All Forum Posts by: William F.

Anyone have experience converting a property with individual gas heat to a central electrical HVAC facility? It would really add to this place's NOI, since the units are metered individually for electric. I'm wondering if the cost is prohibitive on a 1935-ish Ohio building with 12 units.

Hey BP! I'm looking into Ohio for my next multifamily rental property. It's cheaper than PHX, but I'm concerned about taxes. It looks like property tax alone can take $100/mo off my cash flow compared to a more friendly state. Thoughts? I'm also torn between the three big cities, and I'm leaning toward Cleveland (on the lake!). Is there a consensus on the standout favorite for growth in the next 5 years? I'm talking with a data/web guy to put together a private app to visualize population and job growth data. Kind of a 'REI-consider-this-place' web app. Please also let me know if there is something else I should put in there!

Ohio BPers!

My entire extended family is from Ohio, and I'm looking for a rental property near them.

On LoopNet I see Mary Palumbo come up as listing agent for many HUD rental properties. Before I get in touch, is anyone familiar with how HUD rental properties in Cleveland are working out? I'm wary because these properties are priced lower than their competition but with 85% of the rent amount direct deposited from Uncle Sam, Ohio Branch.

I have never dealt with this, but I think you have one good course of action. Call the relevant LE agency to levy criminal charges and evict. I don't think pacifism will work.

Damian LoBasso Is Quickbooks in some form really the solution that big players use? Are there other options?

Maybe get in touch with the owner directly. Ask if he would consider selling. Chat with him to find out all you can and then make your offer. Maybe he will seller finance! When he accepts, be ready to sign an agreement right then. Follow up with an attorney-made contract with out clauses for inspections and financing. If it's a good deal, someone on BP will get you the money somehow. Any old hats think differently??

You need the numbers for sure, and I think a killer pitch will have some sort of extra stuff about why THIS deal, at THIS time, in THIS place, is awesome. And remember that if there's a good deal on the table, he's the one who should chase you. Money is a commodity. Check out the book "Pitch Anything" if you want one guy's take on how to pitch. It might help!

Quickbooks is a standard answer, and I've seen some good tutorials on how to set it up for real estate. Good luck!

For those of you who care about the broad economic outlook in your investment areas, here's the recent economics report from this month. http://www.jec.senate.gov/public/_cache/files/b2fb1607-cbaa-4d20-871f-c58170cbf5c0/jec-state-economic-snapshots-september-2016.pdf If that link doesn't go through, google for 'senate state economic snapshot September 2016' and you'll probably find it.

Hey BP! I'm wondering if any of you have incorporated climate change considerations (drought, sea levels, wildfires, ...) into your investment location decisions. What do you think?