All Forum Posts by: Andrew Craft

@Bob Prisco

I am not familiar with the far north and eastern sides. That’s awesome that you’ve been successful in Garfield. Everyone has a different risk tolerance and I am assuming someone who is just starting may not want to go into a rougher area. My idea is not investing in areas I personally wouldn’t live or wouldn’t feel safe with my wife walking around in the evening alone (as of now) this could of course change in the future if I was able to hire more out but as a beginner myself I wouldn’t want to be in those areas. If course north of 480 on the west side is $$$

@Brennan Hanrahan

Check out the area. Parma is a good spot. Also Berea is a college town that’s really fun and happeningish for cheaper. Our pricing is pretty crazy right now, but I know a lot of people making money here. I personally would avoid the north and east sides of the greater area. Not a fan of much north of the 480 e/w highway.

I have some friends who have suffered some pretty severe eviction issues in Garfield Heights. Check your tenants and I think you will be good. They got in trouble due to a landlord selling them on this terrible tenant.

@Dominic Mendolia

There are hundreds of companies that do this. My dad works for a healthcare management company who also own real estate. His is pretty big, but there are many healthcare management companies out there to choose from.

@Ryan Knapp look into USDA wildfire maps and windzones! Those winds cause a ton of spread.

I am curious if anyone has a general liability background or advice on NON-commercial/retail real estate.

I've been thinking about snow removal from properties in the future. Assuming a tenants lease requires them to shovel snow and keep the yard, how does general liability insurance work in the case of injury of tenant or their guests due to slippery conditions?

I am a commercial insurance underwriter and see skip and fall claims all the time for commercial real estate, but I don't write residential real estate so have no experience with who is liable when there is an injury on your property such as the yard or drive.

Does anyone know how much, or what your liability is?

@Anthony Wick

Isn't rent technically a business or service transaction? Curious how things could end up legally or if the tenant disputes if you are using the friends and family option.

@Mike Dymski Thanks man, I definitely like others perspectives on this because I am just trying to figure it out myself. I do feel good about where I am at, but wasnt sure what lenders thought!

Thanks for the comment!

Also, I am asking from a banking/loan preference as well!

So, I took out $143k in student loans. I graduated in May of 2017 and started paying in August of 2017. I have officially paid of $110,000 and have about $34k left! I'm currently paying $3,500 per month with hopes of finishing in May 2020!!!

I would love to hear some opinions on debt..

Should I pay off my debt before trying to get into real estate? Or should I try to split it or pay a portion of my income to a savings or just go ahead and start buying. My credit score is an 809,. My plan is not to live where I live currently in 1-2 years, and prices seem to be outrageous right now. Of course there are always deals, and you can still make money on "expensive stuff.

Just want some opinions on the topic. I'm feeling FOMO as well as a belief that I will be in better shape if I just wait and pay my due until May.