All Forum Posts by: Adriaan Sierra

 I wouldn't want to rent a unit from you if you randomly emailed me reminding me about a form. 

Thanks y'all, very entertaining read

My post is tagged in Cleveland Ohio, isn't it?

The real work in a C area would be to find a PM who can deal with all the complexity involved. Getting a S8 tenant, insure property, understanding blight and future of the area. 

Properties would pencil out great, but you are tangible risk that are not included in the calculations. If you know the area then it's great, but I'd be careful otherwise.

Considering on whether I should stop buying properties (MFH) with the expectation of further price drops.

What do y'all feel? is the opportunity, on average, is shrinking (a.k.a. buy now) or expanding (wait a bit)?

PMs always have an incentive to get a higher price for the rented unit, as they will take a cut out of the rent. They also have more insight than you, since they are operating in the market. If you are double guessing them, it sounds like you did not put enough effort into the vetting.

It seems that the problem here is a lack of understanding on expectations on both ends. Get more clarity on exactly what the issues are and how to best resolve them, I would not short the PMs on such a small amount (no matter how significant it is to you); they are managing a unit for you that is very likely worth much more than that. 

Any experience with rezoning in Parma, OH?

I own a triplex (lot is zoned as a multi unit) that has a 4th basement unit already built by the previous owner (they occupy). It currently lacks egress but I would be happy to install if it would make sense to convert.

Has anyone been through the rezoning process in this area? I will talk to my lawyer to discuss, but I was curious if anyone has dealt with this issue before.