All Forum Posts by: Adam A.

@Jim Moody Has there been any new modifications to the Riley-Sykes lead inspection ordinance? Or this is new Health Department regulations?

@Ned Carey I think my question was misunderstood. I'm not concerned about the lawsuits against the landlords. However, whether the lead inspection itself was legally challenged anywhere nationwide? 

Somewhere, sometime in the last 10-20 years some pissed off landlord or attorney must have thought out of the box to sue the city. 

Rochester, NY was the first city to pass strict lead paint inspection laws for rental residential homes in 2006.   Living and investing in a high and hot rental market as in Toledo, OH, a new local city government trend to cash in is "Lead Inspection".  

To all states and cities where lead law inspection has been enforced such as in: Rochester, Baltimore, Philadelphia, etc., has there been any lawsuits to challenge or overrule the city/state ordinance?   

@Engelo Rumora - Sure!! My criticism is more constructive as I know you set your standards higher and above the rest.  

Keep it up..

@Ryan Pyle - I totally agree. There is nothing wrong with a plug every once in awhile but not almost in every post no matter what the subject matter is!!. IMO, It's unethical.

@Luke King - What I heard so far about $550 for SFH but I'm not sure how this will be applied to to units 2-4.

UPDATE - Toledo lead ordinance. 

There is a good discussion about Turn-key investments here.  

@Joe Kim - I agree with everything you stated. 

Most of the Turn-key properties in my city are mostly "Lipstick Touched": new carpet, new paint, refinish wood floors, replace windows, etc. THEN Double the price for a CAP RATE 9-10% and may be 11%. They are advertised as class "B", however, they more "C-".

The Turn-Key company is in it for the MONEY which profits from 2 sides: selling you the property and 10% managing it (Which is not their goal). So, whenever the cap rate is so low, they're definitely making their $$$$  from the selling.

Now, if you're an out of state or a novice investor and anything goes wrong (and it will) at these low cap rates, your chances to make money bidding on football in Las Vegas are better. 

@David B. How can they have $20K in jewelry without a renter insurance? The insurance must have a documented appraisal value for $20K in jewelry.  They spent $3800 on an alarm but they wouldn't spend $200/year on renter insurance?  It just doesn't sound legit!!  

These tenants are more toxic than the mold (if it exists) and sooner or later they'll find another way to get back at you. Time for a legal advice to let them go.