All Forum Posts by: Amy Hu
Amy Hu has started 26 posts and replied 111 times.
Post: tenant moved out before eviction court date, now what?
- Investor
- Thousand Oaks, CA
- Posts 126
- Votes 47
Tenant moved out before court date. There's $800 water bill unpaid.
Now what? PM said eviction case was dismissed as tenant moved out.
So there's no 2nd cause court. I need to file a case at small claim court.
Is that true?
Post: Newbie to 5 units in 7 months!
- Investor
- Thousand Oaks, CA
- Posts 126
- Votes 47
congrats!
good team is key!
Post: inexpensive multifamily markets with strong rental cashflow
- Investor
- Thousand Oaks, CA
- Posts 126
- Votes 47
Originally posted by @Bob Prisco:
Hey fellow Cleveland investors, a piece of advice , Be VERY careful when buying a tax cert from Cuyahoga County !! The county can and will give your property to the land bank if they feel there is an "error in your paperwork" , you can lose your ENTIRE investment .Once they give it to the Land Bank , well consider it gone, or you will have a battle to get it back.. I am in the middle of a law suite, $125k, plus 25k legal fees, They gave the the building to the land bank who gave it to another party. So they keep my money, and the building. Stay tuned.
Post: Flying to CLV next week, looking to network
- Investor
- Thousand Oaks, CA
- Posts 126
- Votes 47
Originally posted by @Al Blazek:
Hi Amy, I'm an investor who held several residential properties outside of Cleveland, but I'm a Cleveland native who lived here for 25 years and have been back for a year or so now.
Happy to get together for coffee and just chat about the different neighborhoods, some of the places you may want to avoid going on your own, etc.
Drop me a line if you're interested.
Al
Hi Al! I'll be back in CLE in the week of 7/11. I'd love to meet and chat!
Post: Flying to CLV next week, looking to network
- Investor
- Thousand Oaks, CA
- Posts 126
- Votes 47
I'm back in town! still wanna meet?
Post: 39 Local Credit Unions & Community Banks
- Investor
- Thousand Oaks, CA
- Posts 126
- Votes 47
For purchase, I know an investor got a loan through Costco and worked with Pennymac. He paid $275 for closing cost and it's closed within 25 daYS
Post: Nice 3b2b rental in solid suburban neighborhood
- Investor
- Thousand Oaks, CA
- Posts 126
- Votes 47
Solid 3-bedroom and 2-bath ranch, nested on an wooded lot in safe working class neighborhood!
Home also offers a finished basement with a fireplace, a bar, and a detached 2-car garage with a workshop.
Construction Materials: Brick, Aluminum, built in 1954. rehabbed in 2016, updated electrical and plumbing working, new bathroom vanity, bathtub, room carpet etc.
The reason to sell is that we only own this one rental in MI. Now we're focusing on apartment building and Cleveland metro. We've got quite a few inquiries about land trust but would rather just sell it to cash buyer.
This house has lots of potential for long term investor.
Post: 4 SFR -great rental property for cash flow! $700-850 rent
- Investor
- Thousand Oaks, CA
- Posts 126
- Votes 47
Originally posted by @Daniel Weed:
Amy, do you have any pictures to go along with these to show what kind of work was done? If you do, please send them and any other information to [email protected]
Thanks
pictures can be seen on redfin/trulia.
I'll definitely ask my contractor/PM to send me tons of pictures in future.
Post: 4 SFR -great rental property for cash flow! $700-850 rent
- Investor
- Thousand Oaks, CA
- Posts 126
- Votes 47
I got a lot of inquiries about insurance.
FYI, I just got insurance quote from an A+ insurance company. $1525 for all 4 SFR, full coverage including rental loss! that's less than $400 per house for a whole year's full insurance
Post: 4 SFR -great rental property for cash flow! $700-850 rent
- Investor
- Thousand Oaks, CA
- Posts 126
- Votes 47
Good questions, Austin!
I was not very happy with previous PM. However even with that, cash on cash return is well above 15%. My advice is to go with well established PM company than individual. check reference. there're good ones out there.
tenants responsible for all utilities , and landscaping.
I can refer a great insurance broker.
Cleveland is landlord friendly. most of my tenants pay on time. eviction is quick and inexpensive, unlike CA.
Originally posted by @Austin Tam:
Hi Amy,
I'm interested in purchasing your Cleveland properties. I have a few questions:
-Do you have property management in place? Which company are you using and are you happy with them?
-It looks like tenant pays water and sewer on these properties; are there any monthly utilities you are responsible for? What do those costs look like?
-What are you paying in insurance for each property and who is the provider/broker?
-Who is responsible for maintaining the lawn?
-Are all tenants up to date on rent? Are any of them problematic?
You can reach me at [email protected] Thanks!