All Forum Posts by: Shuai Zeng

I'm not a area of expertise on south Cleveland. However the house seem a bit outdated, and school rating is kind of low. Maybe lower rent towards $1200 or comparable towards "similar“ homes？ Since it's winter right now, not many people want to move.

Well, the question your asking has been answer by Bigger Pocket weekly webinar 80% of the time. But here is the short answer: FHA / Househack / Partnering

Another thought would be check on Rover or any pet sitting site for that address. Your tenant could be using the house as a pet sitting business, or related. Also a thing to note on the houses with Cat. Cat piss are really hard to get out if tenant let it sit in the house carpet or in a low ventilation room, and could cost you few grand to try to remove it. Also there is another issue of Dog piss smell outside which if not rinse out can be quit troubling. Also I hope your insurance have pet damage cover in there, as if something happen it faults might fall on you. 

OP is trying to spend less then a hundred buck on a kitchen top as replacement of old tiles or proper counter top. Just go laminated top instead if you don't want to spend much. If you have no experience doing it and comes out a ****** job, might as well just get a laminated top for the property if it's rental which will cost you less then time you re-grout it. If you are doing a flip, don't be a cheap *** on kitchen, which is most house selling point and go buy a proper top.

Want to give us context on what happen? Was looking at Columbus, OH; but after some research went a little bit north instead.

Well, my suggestion is stay out of city with "Heights". 

Ok look at it this way. Does your lease with them allow them to sub lease? Is there going to be a new person added to the lease, or they are going to lease it out without your approve. There is a Major problem with this, is if the sublease/ unauthorized person moving into the basement any injure will fall to you. Any damage to property that is beyond the amount of deposit will be a problem to get because "it's not your tenant." You can go after your current tenant, but that will cost money and court time which will it be worth it?

So the major problem is Liability here. If there is a fire, from basement, due to unauthorized dwelling, will your insurance pay for it also? 

You can bite the bullet here, and the final decision comes from you.

For me, it's cure or evict. I bought single family because I want to deal with single family, if I want to deal with multifamily headache, I would gone and bought that. 

So main point is your Liability vs Reward worth it or not.

Interest on your thought on South Euclid, on the neighborhood rating for them. Was told by agent that never look North of Mayfield as that area tend to be a bit bad. 

 Also from same agent telling me people starting to leave Euclid, as the crime rate has risen this few years.

Would not suggest Cleveland as the price might be a bit above 50K. Good tenants location would be suburbs with "Heights", but these location also come with headche of city requirements. I'll never look back at Detroit, unless your really comfortable with C - D class neighborhood. 

@Stephen Stokes whos your lender?