All Forum Posts by: Adam Craig

I use NREIG and have been for 5+ years. They insure 30+ properties.

Never really had any issues. I dont know how they would be if I filed a claim but in terms of adding/deleting properties you just use their online system its really east and price is right.

Since we have 3-4 jobs going on at any given time I always have a need for hauling service or dumpster. a 15 yard on my location is around $300 for 5 day rental.

With us needing clean ups and various locations multiple times a month we spend alot on dumpsters. I considered buying my own truck and trailer. But then I have to incur all the expenses of owning and repairing and find someone to drive and dump it.

Are most of you guys who do volume just using dumpster services ?

I have a couple rentals right now on the market that would have been snatched up this past spring. I can always lower the rent and a bit and still cash flow nicely and rent them. But I seem to rent quicker and get a premium on rent if I market from early spring to mid summer.

Does anyone else experience the same seasons and do you try and make sure your leases renew during a good rental time? 

I feel the only downside would be having more turnover in a short concentration of months instead of spread out through the year which is not a big deal.

Regarding sherrifs sales in my county.

On the property page link below - there are 5 categories for the status of a given property. ACTIVE/CANCELLED/BANK/PRIVATE/BANK PLTF - What does bank,private, and bank pltf mean?

Does the property go back to the bank if it doesn't reach the listed mortgage balance? I am confused if these property are selling and who they are selling to.

https://webapps.lakecountyohio.gov/Sheriff-Sales/

I am new to sheriff's sale but not new to real estate. I have purchased dozens of home without interior access through auction.com, hubzu, xome and I know there are guys making a living at the courthouse steps so I finally decided it was time I start going. 

I went to my first sheriff's sale to listen and learn but here are some follow up questions.

1. I told one of the bidders there which houses I was interested in. He said the bank will probably buy that one back. Does that mean some of the bidders down there represent the bank or the bank just has a reserve.

2. I heard a couple people open the first bid up with "Plantiff" - What does this mean.

3. Lake County Ohio starts the bid at 2/3 the listed appraised value. But sometimes the listed mortgage is considerably higher then the ending bid. Does the bid need to reach a minimum of the listed mortgage in order to sell?

4. On the property page link below - there are 5 categoris for the status of a given property. ACTIVE/CANCELLED/BANK/PRIVATE/BANK PLTF - What does bank,private, and bank pltf mean?

https://webapps.lakecountyohio.gov/Sheriff-Sales/

I am new to sheriff's sale but not new to real estate. I have purchased dozens of home without interior access through auction.com, hubzu, xome and I know there are guys making a living at the courthouse steps so I finally decided it was time I start going. I have someone on fiverr running title searches and they do a great job so I understand the risk with these properties. 

I went to my first sheriff's sale to listen and learn but here are some follow up questions.

1. I told one of the bidders there which houses I was interested in. He said the bank will probably buy that one back. Does that mean some of the bidders down there represent the bank or are banks just putting a reserve.

2. I heard a couple people open the first bid up with "Plantiff" - What does this mean.

3. Lake County Ohio starts the bid at 2/3 the listed appraised value. But sometimes the listed mortgage is considerably higher then the ending bid. Are these properties being sold if they dont satisfy the mortgage?

4. On the property page link below - there are 5 categoris for the status of a given property. ACTIVE/CANCELLED/BANK/PRIVATE/BANK PLTF - What does bank,private, and bank pltf mean?

https://webapps.lakecountyohio.gov/Sheriff-Sales/

Hi All - I am in the process of starting to build my real estate brand. I have been doing this for 10 years with 100+ deals so I feel I have some good experience and insight to share on facebook, youtube, website, twitter ect...  My goal with building my brand is to build trust, attract new investors, and possibly someday earn advertising money if my brand gets to the level I want it to.

All the brand guys say dont worry about the name you can always change it - get the content out there is most important. But I would rather get my brand name right from the start so I dont have to change my website or email down the road.

Right now my brand is my LLC - "CLE Real Estate Group" because I invest in Cleveland. I know its not that catchy but I already have a website for it and I dont hate it at the same time. In your opinion is this to bland for a youtube channel or twitter account? Is it too long for someone to remember the website or email domain?

I know guys are really into brand themselves on youtube so they use there full name. But I have never been a fan of throwing my name all over the place

I will try and make a long story short... 

The buyers inspector listed a dozen items on the ROC. Because they had such a strong offer we agreed to fix  all of them. One of the items was "termites in crawl space" - truthfully we never saw any termite evidence they are extremely rare in our area and only in the crawl space. My regular pest guy didnt do termites, few in our area do. 

So this guy treated the termites and the buyers signed the removal of contingency and moved in. Shortly after closing they said the termites came back and they had a friend that worked at ORKIN and sent me a bid for $3800. I contacted a larger reputable company in the area who said $1800 with a 1 year warranty. The buyers demanded their friend at ORKIN do it. I told them I would get rid of the termites but they dont get to pick the company. I offered my company do it OR I would give them $1800 towards ORKIN. Mind you they were never talking to me directly like many buyers do, they directed everything through their agent.

This was in July 2018 at the was the last I heard from them until a law suit came in the mail in October 2019. The suit was 90 line items long and they are suing everyone involved - 6 parties in all. They mention termites, signs of water proofing in basement (we didn't waterproof), pluming and electrical repairs not disclosed, not disclosing a new roof, and they were suing for 150K on a 165K house...

The truth of it is we didn't know of any leaks in the plumbing or the roof. We got the house dirt cheap, no utilities were on the majority of the rehab and we replaced everything. Old galvanized pipe, roof, windows,  HVAC, electrical, the works... Normally we brag about this stuff in the description but because I didnt write every detail in the disclosure they are trying to turn this into a non-disclosure issue.

Until attorney files for a discovery we wont know the exact details of the complaint of what has happened in the house since we sold it. Going forward we are attaching a list of repairs to the disclosure so we dont deal with this BS

It doesn't appear my wife will have to pay anything, her brokers insurance is handling it. Her broker just said the company insurance goes up when these things happens but she is not on the hook.

So this will clear my wife and her broker but it wont clear me or my business to my understanding.