All Forum Posts by: Rebecca G.

any property that @Engelo Rumora sells to an investor and maintains through his property management company receives a 1 year maintenance guarantee that covers all of the mechanicals of the property (water heater, plumbing etc) as well as a 1 year placement guarantee, not 2. You can check out some of the deals and such @ ohiocashflow.com. Keep in mind that most of the deals never hit the website due to an exclusive investor pipeline 

Here in toledo there is only one good property management company, the rest are absolutely terrible. Things that i like about the property management company I deal with

Everything is online! I can see the status of rehab/repair/payment/payout immediately anytime I want to.

I can speak to the property manager everyday. She replies quickly to any questions I have

They offer a tenant turn discount, if the tenant moves out and the property is not rented, they do not charge me while they are finding a tenant

I see receipts immediately for any repairs that need done

They remind me if I have any bills due, Taxes water etc So I never forget

Sometimes it is important not only to know what licenses/certifications the company has, how long they have been in business, what kind of reviews they have, but also to know that they truly care about the investment and not just collecting their 10%

We have a few strippers who rent houses from us. We did request income verification from their employer still, generally they will give us a letter stating an approximated amount that the girl makes depending on how much she works etc. Out of all of our tenants I will say this, I have never had one of these girls be late on rent, destroy the house or anything else that was destructive.

When we schedule showings, we schedule them all at the same time. Each property gets 2 showings a week, one in the evening during the week, one early in the day on a weekend. I only do 1/2 hour for each property. We pre-screen apps as well, but still have some no shows. 

@Sam B. Thanks for the response. I will check those out tonight. Never hurts to look

@Don Konipol Is my fear of debt that obvious haha! It has worked for me thus far, and even though there is good debt (like my student loan that is always paid on time) I have always had the theory "if you have to borrow to get it, you don't need it." I came from a very financially poor childhood where nothing was ever handed to you, you had to work to get everything and I guess that I have never gotten away from that mentality. It does take me a little longer to get to the finish line this way, but it has also kept my ROI in the high 80%'s. I think to accomplish my goals on this one I am going to have to 1)keep trucking along slowly now that I'm back at full health 2)find someone to "buy-in" with equity on this property as a return or 3)sell it

I am wondering at this point if I would be better off selling this investment and just keep the ones I have already completed until i can build up a stock pile again

@Mike HannemanYes I am planning on keeping the property at this time. I can borrow against my other properties if i need to, I was trying not to do any loans through banks.  I got into this situation because we have never used outside funding, we have only used profit from our other properties to fund rehab, but due to round 3 with cancer we had to put it on the back burner for a short period of time. We have no debt on any of our investments, no outside funding or loans of any kind have been used.

@Luis Roel yes i do have an LLC and I agree, hard money, even if I took a larger amount, to me is something that doesn't seem appealing due to the high rates

@adam i have actually spent alot of time reading and learning about the ordinance, both on your forum and the vast amount of other resources that are readily available to anyone who cares enough to spend more than 30 seconds looking.

Im glad that at this point and time the majority of my investments are not affected and that they are granting extra time to anyone who has more than ten registeted properties to be compliant. At this point i am going to see how it all plays out, if the threatened lawsuits come to fruition and as stated earlier, even though my properties are currently excluded from this, i am going to have them tested and abated if need be just because its the right thing to do.

hard money is probably not right for this because i dont have a buyer lined up. I know i could have it rented in time but that wouldnt create enough funding for full payback, as far as i know most hard money lenders like very short term loans. I actually have people who keep calling about renting it so that doesnt worry me too much. My other properties have maintained 100% occupancy since renovation.

I have thought about doing a joint venture but finding people that are trust worthy isnt always easy, especially with me being fairly new too this and not having a huge network yet. If you happen to know anyone who would be interested feel free to send them my way haha. Thank you for giving me suggestions, much appreciated