Risk Mitigation: What strategies do you use to mitigate risks when investing in older properties in Cleveland, especially in terms of unexpected repairs or property management?

When analyzing properties, it's helpful to run a rental stress test to see if the deal can withstand unexpected challenges.

Your approach here has definitely given me a lot to think about in terms of spotting hidden value.Curious, with the deferred maintenance challenges you faced, was there anything unexpected that came up during the rehab that you’d approach differently next time?

This approach ensures realistic pricing and helps avoid unexpected costs later.Good luck!  

This was done to protect senior citizens on fixed incomes from being forced to sell their homes due to unaffordable property tax increases.Since the passing of this amendment, all properties in Michigan have two property tax values associated with them:State Equalized Value (SEV): supposedly equal to 50% of the market value of a property, not based on recent sales price.Taxable Value: the SEV annually capped as long as there is not a transfer of ownership.City Assessors are charged with determining how much property values have changed each year.

How do you usually approach unexpected repairs or big-ticket items?

Did you have unexpected expenses?

They offer SFRs across the country (1031 eligible) that are fully triple net lease - meaning there's no costs to the homeowner, no vacancy liability, no unexpected repairs and maintenance, NOTHING.

An appraisal fee in advance for an actual appraisal is legitimate, but you can find lenders that don't require appraisals and don't charge appraisal fees.

Expect delays and unexpected expenses: No matter how straightforward the project seems, having a contingency fund for emergencies is essential.Your Team matters.