All Forum Posts by: Rob Hayes

Keep working and grinding and saving and keep your eyes open for an opportunity. As far as the credit, i at one time had bad credit it is now almost 800. That takes time also, keep paying on time and credit card debt in check! I know this may not be what you want to hear, but sometimes there are no magic bullets! 

Keep working and grinding and saving and keep your eyes open for an opportunity. As far as the credit, i at one time had bad credit it is now almost 800. That takes time also, keep paying on time and credit card debt in check! I know this may not be what you want to hear, but sometimes there are no magic bullets! 

Guys, I think we can surmise that the numbers with all expenses ‘IN” are not to impressive or they would disclose. I also know if I wanted it badly enough I could do what @Austin Fruechting suggested (thank you). But the reality is I dont trust this person on this particular deal after the way this was handled so I will walk on this one. The problem is this person is well known in the markets I am interested in and there is a good chance I will be having to deal with his company for future properties of Interest in the Cleveland market area! Oh well, I hope he will be more forthcoming in the future? 

Guys, I think we can surmise that the numbers with all expenses ‘IN” are not to impressive or they would disclose. I also know if I wanted it badly enough I could do what @Austin Fruechting suggested (thank you). But the reality is I dont trust this person on this particular deal after the way this was handled so I will walk on this one. The problem is this person is well known in the markets I am interested in and there is a good chance I will be having to deal with his company for future properties of Interest in the Cleveland market area! Oh well, I hope he will be more forthcoming in the future? 

@natesmith when I tried digging and made mention that I needed help understanding how the owner (who purchased it a year ago) wouldn't have his records for water, sewer, gas and common electric  (all the items the owner is responsible for) and without this info I couldn't risk a 350k purchase without being able to evaluate theses items . His response was " reach out to me on the next one you are interested in it"! Not even an attempt to help with this, I am guessing you are right! something fishy with this!!! 

I am looking at an out of state 6 unit multi family unit. The seller (Realtor) tells me there are no previous record of expenses to evaluate. The landlord (potentially me) is responsible for gas, water, sewer and common area electric. How can I evaluate income potential without previous records? Boiler and water heaters are gas. I am calling BS on this. The owner must have gas and electric and water and sewer records? Any advice. Unit is in Ohio, Thanks 

I recently had a tenant in Garfield Heights Ohio that brought a dog into my home, clearly breaking the lease agreement. This is a Large breed that is considered dangerous and I am told is very intimidating. I was not comfortable with this especially after doing this behind my back as well as being concerned with any liability should this dog harm someone. Had she asked with a few financial adjustments I may have let her (probably not based on the breed). We decided to take her to court, I lost even though she clearly broke the lease agreement. The judge said she could keep the dog for the length of the lease without any increase in rent. WTF!!! I had my property management company handle this and it cost me $500+. She also started building a outside dog pen on th property as well with out discussing this with anyone. She has also been a real pain in the *** when we needed access to my house for appraisal when I cash out REFI it took her almost a month to let anyone have access? Enough of my rant :) 

FYI- I am an out of state REI so its not easy for me to visit the property

@Michael Enriquez congrats, like you I just jumped in as well. I purchased my first out of state REI property in Ohio. Its now on the market (8 days) and will be real happy once its rented. Do you have "boots on the ground" so to speak in the Philly market? I used a reall good guy in the Ohio market and find that as a very important part of out of state REI. I counts have done it with out the help unless I had the time to sacrifice. Just curious, because I am interested in other states but find that having someone to trust in each of those areas is a challenge. Best of Luck to you! Once this one is rented I will be onto the next :)

Do  any of you know of any reputable "turn key"companies out of the Ohio area (Cleveland) ? 

I have also been speaking with Larry from Morris Invest. Im seriously considering a duplex, I truly dont think we would jeopardize his reputation by taking advantage of his customers.  I happen to live in the town next to him (Clayton) ,I like that fact if there ever was any issues with my money or property! I am concerned with the comment of the property being in the "Hood". Was more confident in the investment until reading these posts!