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All Forum Posts by: Sofia Komrskova

Sofia Komrskova has started 0 posts and replied 60 times.

Post: Handyman in Cleveland

Sofia KomrskovaPosted
  • Real Estate Agent
  • Cleveland, OH
  • Posts 60
  • Votes 48

DM me what the issue is. 

Post: HELOC or Cash Out Refi?

Sofia KomrskovaPosted
  • Real Estate Agent
  • Cleveland, OH
  • Posts 60
  • Votes 48

Do a HELOC. That way you don't increase your payment unless you pull money out. Cash out means a higher interest rate and a higher payment in today's economy (I'm assuming you bought when rates were lower).

Post: First time home buyer slum lord

Sofia KomrskovaPosted
  • Real Estate Agent
  • Cleveland, OH
  • Posts 60
  • Votes 48

The issue isn't the neighborhood necessarily, it's just you are buying turnkey in a D area. There are better uses of 120k. 

Post: First time home buyer slum lord

Sofia KomrskovaPosted
  • Real Estate Agent
  • Cleveland, OH
  • Posts 60
  • Votes 48

Cash flow seems high for the area but it does have 11BRs total in a quad. With property management you'll cash flow probably around $600-$800 per month after PITI and expenses, etc if it really is bringing in over 5k. That area is rough tho and in my opinion it's not worth dumping money into. Do a househack in a better area or a value add. Buy and hold in Mount pleasant looks good on paper but it will turn out different than you are thinking.

Post: Accrued Utility Service Charge Before Turn on

Sofia KomrskovaPosted
  • Real Estate Agent
  • Cleveland, OH
  • Posts 60
  • Votes 48
Quote from @Andrew Boston:
Quote from @Sofia Komrskova:

Did they have to come out and install a meter? And is this in Cleveland proper? If they had to install a meter to turn the water back on you'll get a missing meter charge of $300, but nothing else. You don't pay for water if it's not on, but you do pay for sewer no matter what. 


Hi Sofia, thanks for the quick reply! They did not install a new meter and it is in Cleveland proper, but maybe this is the sewer charge, hopefully when the bill comes it will be clear if that's the case.


 Okay yeah its probably an estimated sewer bill based on historical usage. It will get adjusted on the next billing statement as a credit against your balance once you turn it on in your name (You still have to pay around $14-20 per month for sewer whether utilities are on or not). If you want to DM me a copy of the bill when you get it I can confirm. I'm a General contractor here so I see this happen all the time with vacants that sit =) 

Post: Accrued Utility Service Charge Before Turn on

Sofia KomrskovaPosted
  • Real Estate Agent
  • Cleveland, OH
  • Posts 60
  • Votes 48

Did they have to come out and install a meter? And is this in Cleveland proper? If they had to install a meter to turn the water back on you'll get a missing meter charge of $300, but nothing else. You don't pay for water if it's not on, but you do pay for sewer no matter what. 

Post: Lenders only wanting to lend 80% of purchase?

Sofia KomrskovaPosted
  • Real Estate Agent
  • Cleveland, OH
  • Posts 60
  • Votes 48

Sounds like they are trying to offer you delayed financing QM loans. You need to wait for seasoning to do cash outs(I think it's up to 12 months now) or find a DSCR lender instead.

Post: Photographer in Cleveland

Sofia KomrskovaPosted
  • Real Estate Agent
  • Cleveland, OH
  • Posts 60
  • Votes 48

Austin Cupach Photo is great 

Post: My first deal in Cleveland

Sofia KomrskovaPosted
  • Real Estate Agent
  • Cleveland, OH
  • Posts 60
  • Votes 48

If I were you I'd go for 4977 E 110th instead. Nearly the same price, but with the extra bed. Plus it's already vacant.

Post: My first deal in Cleveland

Sofia KomrskovaPosted
  • Real Estate Agent
  • Cleveland, OH
  • Posts 60
  • Votes 48
Quote from @Eyal Goren:
Quote from @Sofia Komrskova:

Area is fine. The rent is high for just a 2 bed though, I don't think you will get 1300 for that. Overall I'd say the deal is not that great. You can get 3/1s and 4/1s in Garfield Heights at that price that will actually cashflow at 1300. Again, biggest issue here is the fact that it's only 2 beds. 


 Thanks. Appreciate that. Would you say 1200 is a better estimation for that area for a 2bd?


 Yeah I think the range is more like $1050-$1200. You've got a garage, which is nice. 1200 is still on the higher end. Again, it's harder to rent a 2BR home. Most people are going for 3+. I'm looking at the property now, and it's tenant occupied. Are you planning on renovating afterwards? You'll have to factor that into the holding costs as well.