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All Forum Posts by: Russ B.

Russ B. has started 2 posts and replied 317 times.

Post: Stressed that noisy neighbors will ruin my investment

Russ B.Posted
  • Investor
  • Cleveland, OH
  • Posts 319
  • Votes 329
Quote from @Wesley W.:

If there is no noise ordinance, how about calling the cops when they are going on late at night for "disturbing the peace"?  That's got to be a law on the books, right?  You can't tell me if some fraternity is having a giant house party in your neighborhood late at night and you called the cops, they would respond with "it's a civil matter" or "there is no noise ordinance"?

I like @JD Martin's first suggestion - the concrete wall would act like a sound barrier and would probably moderately work.  I would build it as tall as it needs to be to block line of sight from any bedroom in your house to the area of the backyard where they perform.  That should impede the sound along that path as well.


While building your wall, be sure that your plan involves lots and lots of early morning jackhammering šŸ™‚

Post: Tenant harassing me

Russ B.Posted
  • Investor
  • Cleveland, OH
  • Posts 319
  • Votes 329
My favorite response to "I'm gonna call my lawyer!!!" is, "Well, when you do, here's how to contact mine."

That usually shuts em right up šŸ™‚

Post: Should I SELL or continue to RENT/MANAGE???

Russ B.Posted
  • Investor
  • Cleveland, OH
  • Posts 319
  • Votes 329
I might have missed it, but 4k/mo on what size investment? If it's on a place that's worth 300k, that's awesome.. but if it's worth 3M, that's a little different scenario.

Post: Should I represent my self when purchasing rentals

Russ B.Posted
  • Investor
  • Cleveland, OH
  • Posts 319
  • Votes 329
Sounds like it depends on state - in Ohio you can have a dual agent, which is something I personally like to do for a couple reasons.

Post: Basic screening questions you ask tenants

Russ B.Posted
  • Investor
  • Cleveland, OH
  • Posts 319
  • Votes 329

I couldn't imagine doing an inspection at their old place, but I've heard it so many times it must be something people actually do?

Given that this was your personal home and is probably pretty nice, I'm guessing the type of tenants it can attract will be people with good jobs and solid credit - the kind of people who would have something to lose by getting themselves sued. This by itself makes it less likely anything will happen, assuming you actually verify their credit and income.

Post: Tenant coming after me for not renewing lease

Russ B.Posted
  • Investor
  • Cleveland, OH
  • Posts 319
  • Votes 329
Quote from @Ryan Camenisch:

...


All that to say we have records of nearly 12 months of consistently late/delinquent rent payments on top of a very poor communication from the tenant, if any at all, so it seems like Iā€™m in the clear. 


 You should tell her that "Karen" is not a protected class, and she should consider the ramifications of having an eviction on her record šŸ™‚

Post: Tenant refusing to sign 1-year lease

Russ B.Posted
  • Investor
  • Cleveland, OH
  • Posts 319
  • Votes 329
I was in this situation as a renter, years ago - lease was ending and they wanted me to sign for another year or pay significantly more for M2M.

I was already looking at houses and not willing to wait another whole year, so that just motivated me to hurry up and buy something. The effect was probably the opposite of what they'd hoped for.

Post: 3 Reason Why You Ought to Consider Owner Financing

Russ B.Posted
  • Investor
  • Cleveland, OH
  • Posts 319
  • Votes 329
So.. probably a dumb question, but what does that do to your tax situation?

Post: 3 Days before closing seller is asking for an extension

Russ B.Posted
  • Investor
  • Cleveland, OH
  • Posts 319
  • Votes 329

Seller is delaying the sale so they can deliver vacant.. sounds like they're trying to hold up their end of the deal and the tenants are causing them a huge headache by still being there.

Closings get delayed every day for many reasons. I just closed on a building the other day where I had to go back and beg the seller for another month, because my lender apparently can't communicate between departments. I was scared they were gonna keep my deposit and tell me to go away.

In short, I wouldn't worry about it unless it's something that you were super clear was a giant red line through the whole process.. especially not when it's 3 days. To me, that doesn't even count as a delay.

Post: Get it Under Contract Despite "Notice to Demolish?"

Russ B.Posted
  • Investor
  • Cleveland, OH
  • Posts 319
  • Votes 329
If it's city / county owned, they may only be interested in a cash sale - I doubt they're gonna agree to a regular P&S with contingencies and all that.