All Forum Posts by: Steve Borawski

Morning All,

I wanted to give you an update. Also, thank you all for you feedback because it’s always good to get different perspectives.

So, I placed a 3-day notice on the tenant’s door that the lease has
been violated. I laid out the issues of noise and disturbing the other tenets. I expected to meet her at the house and go over the issues but
I had to send a message instead. Surprisingly she understood the issues and agreed to move out. I agreed to give her back the full security deposit even though there was some damage. She moved out as scheduled and I gave her the security deposit back.

There was fall out and I had another tenant move out while I was working on getting the tenant to move out. But honestly it could have
been worse. Rooming house are a pain but the money is so good, lol.

Steve B

Very Early Morning All,

So here's the situation (In Ohio). I have a tenant that is thrashing and screaming in her room. As you can imagine this is scaring the other roommates. She does periodically come out and destroy something minor. The police have been called and she has been picked up by an ambulance. This has happened twice. Each time I reach out and talk to her she seems okay. They don't keep her at the hospital and just release her back. Just got a voicemail at 1:00 a.m. and she's at it again, third time. No I didn't get the voicemail because I was sleeping. 

I'm worried for her safety and those of the other tenants. 

Any ideas of next steps would be greatly appreciated. Yes I'm going to call a lawyer but it is 4:00 a.m. and I will probably post notice for her to vacate. But I was wondering if there is anything to be done in the meantime because it does take a while to evict and she may easily hurt herself by then.

Steve

@Ronald Allen Barney Thanks, I was going to reach out to zoning and make sure everything's on the up and up. I'm also doing some research into the situation with the septic tanks.

Steve

Howdy All,

I have a couple single families and a couple multi-families in my portfolio currently so this is not my first rodeo. However, a very interesting opportunity came up with a property for sale and I want some advice if you'd be so kind. The property has a duplex and three trailers on site. These trailers are not owned by the property owner but there is lot rent for them. I've never purchased the property with what is basically a miniature trailer park on it. Are there things I need to investigate or regulations I should be aware of when purchasing such a property. I am in Ohio and the property sits in a county with minimal zoning regulations. Thanks so much for your help.

Steve

@Ronald Stanley

I just started doing this about 5 months ago in Ohio, so the state is different. Our tax sales are very random and are not all at once. Many get pulled at the last minute so I wait until a week before to do my research. I also check the docket for each the day before the auction because several get paid the day before. I drive the property a few days before and get out and talk to the neighbors. Yep I knock on doors and say hay I'm looking to buy the house next to you. I don't say it is at auction but many already know and don't care. You can get some great info from them about the property. Like one had a fire in the kitchen and another had all the copper ripped out. Hope that helps.

Cheers

Howdy All,

So it looks like Biden is going to limit the 1031 exchange, if it passes. You will be able to shelter only $500,000 of capital gains per year. This may be a huge blow to large multifamily investing and may push investors into smaller multifamily and single family as they may allow for more flexibility in staying under the cap. What do you think? Is the large apartment complex dead?

Steve