All Forum Posts by: Kevin Saunders

The search continues.. Haha will do @Federico Gutierrez

Happy Monday BPers,

Could anyone recommend a good GC located in the Cleveland area that can handle apartment building unit turns? We are attempting to reposition the property, so these are more intensive unit turns than normal. Abundance of follow on work available. 

Qualifications: (1) Quality craftsmanship; (2) Effective communicator. 

Many thanks,

Kevin

Echoing @Dante Pirouz -- reach out to John Wunsch at Huntington National Bank

Hi Tony,

If you PM me the address I will have a contact of mine swing by to take a look so that he can offer more informed advice. Not sure if it's something he'd be interested in, but if it's a smaller job like it sounds, he knows quite a few contractors that could get you right. If this is a time-sensitive matter, though, just be warned that you racing against the clock to get a solid foundation poured before the winter freeze sets in. After that point, you'd be better off waiting for the Spring thaw. 

I will do that. Thanks @Abhi Golhar

Hey BPers--

I recently submitted an offer on a 4 unit on the near west side of Cleveland, OH. If accepted, this property would be a perfect candidate for the BRRRR strategy. Can anyone recommend a lender they've dealt with who will loan both the acquisition (minus down payment) and rehab financing at a reasonable rate? Any info is much appreciated.

Many Thanks,

Kevin

Arun,

We own multifamily in that area. After a pretty extensive search, we found that most prop mgrs aren't willing to manage in that area just yet, or if they are will charge you an arm & leg (and possibly a flat fee). Ultimately, we deemed it necessary to bring prop mgmt in house in order to get the service we were seeking at an economical price.

I have been told that Cleveland Property Management may be willing to manage in that area for a reasonable price, but this was after we had made our decision to self manage, so I never vetted them. If you do, let me know your thoughts!

Best,

Kevin

It will take ~5-6 months from the date of the first missed payment to the Sheriff's Sale, depending on how depending on how diligently the homeowner pursues debt relief. The following link contains a concise breakdown of the foreclosure timeline.

http://www.savethedream.ohio.gov/foreclosuretimeli...

Hope this was helpful. 

Hi Antonio,

I'd be interested in getting my hands on any additional financial information you have. Please send to [email protected]. Feel free to call me at (330) 607-7940. 

Thanks,

Kevin

@James Wise do you interpret "supply" to mean "must pay for"? If we read the landlord's duty to supply running water to the building the same way as "supplied by a direct public utility connection" later in that same provision, then I interpret supply to mean provide, but not necessarily for free. I'd be interested to hear if you've had any direct experience with municpal workers that colors your interpretation?