2 September 2024 | 9 replies
I have personally never owned a condo that DIDN'T have a special assessment - which happens when there is a repair needed but not enough money to pay for it.
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29 August 2024 | 1 reply
Hi I need to make repairs between tenants.
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3 September 2024 | 12 replies
Hi Yu Jin,Dayton is a step up from Toledo but also comes with a step up in price.The numbers make sense in many Ohio cities.You make money when you buy and not when you sell.So look for off market (We do a lot of direct to seller), negotiate hard, buy with cash and buy quickly.Great deals don't last so you need to know the numbers very well in your target market.I've flipped hundreds of properties in Toledo since 2014 and am glad to say that I know the market like my back pocket.All I need is the address, scope of work and how much I can buy it for.Quick access to AREIS, the MLS to run comps and "ka ching".I know if it's a deal or not.Immerse yourself in the market and become a market expert on the numbers.Nothing comes easy mate and all good things take time.If you are looking to build a rental portfolio in Ohio you have to build a big one.Buying 1 or 2 properties and expecting a significant impact to your bottom line from a net-worth or cashflow standpoint isn't worth the risk IMO.In all sub $100,000 markets, it's important to build a large portfolio as there is a high likelihood that you will have repairs and vacancy on 1 or 2 properties at any given moment.Just my opinion and all the best.
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2 September 2024 | 2 replies
This job has given me practical experience in general repairs and maintenance of large multi-family buildings.
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3 September 2024 | 6 replies
Tenants have kept the property in decent condition so considering that my initial strategy was to not disrupt them, maybe do a month to month lease agreement while making some repairs than execute a new lease Jan 1st with a small increase in rent.
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1 September 2024 | 9 replies
They were quick to pay when repairs had to be done and their in-house adjusters were on point.
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7 September 2024 | 36 replies
I also tell them that I'm not doing any repairs that section 8 may require in order to move in.There is a clear difference in whether they can make you accept section 8 - versus whether the govt can make you take less money and do more to take section 8.
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1 September 2024 | 1 reply
Buyer's agent has requested a CLUE report as part of the request for repairs on a flip property under contract.I've asked my insurance agent to pull one, but he suggested to contact LexisNexis directly.
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2 September 2024 | 8 replies
Without cash flow you will end up going out of pocket for any repairs and Capex expenses.
1 September 2024 | 3 replies
I win in court and tenant is kicked out in 24-48 hours.In 90% of all situations, the tenant leaves before I have to file in court, I use their deposit to cover unpaid rent and as much cleaning/repairs as possible, and I move on.