All Forum Posts by: Andrew Foster
Andrew Foster has started 7 posts and replied 15 times.
Post: How much should a unit turnover be?? (I feel like my PM is taking advantage)

- Montana
- Posts 15
- Votes 16
Quote from @Caleb Brown:
I would want an itemized bid or what exactly they did. Tenant was messy so the amount isn't bad. If they painted, did flooring, replaced a window, etc those items can add up. If they only cleaned things out and left it close to the same then $3,500 is steep.





Post: How much should a unit turnover be?? (I feel like my PM is taking advantage)

- Montana
- Posts 15
- Votes 16
Post: How much should a unit turnover be?? (I feel like my PM is taking advantage)

- Montana
- Posts 15
- Votes 16
Hi Matthew,
I apprecaite the promp response. This turnover was from a tennant that I inherited. Who did not renew their lease 5 months after I purchased the property and tookover. The eviction is also a tenant that I inerited who stopped paying the second mother I took over, paid half a month then stopped paying. We tried doing a payment plan, they agreed and didnt hold up to their agreement and decided to take this to court which was a whole process in itself. I will say the unit that was vacant and that my PM placed a tenant in has been great so far, they also got the "turnover" unit occupied in two weeks for more rent than the previous was paying. Im not justifying anything Im jsut trying to paint a clear picture of the situation.
I too feel the price is steep. But i have a bout 30+ photos of the unit that needed the work, and Im wondering if I should post those to maybe add some more context. But I do see your a point. If they can just have each unit turnover yearly, it would be great profit for them. This is what Im concerned about, and why I am posting. Thanks again though for the quick reply!
Post: How much should a unit turnover be?? (I feel like my PM is taking advantage)

- Montana
- Posts 15
- Votes 16
Hello guys and gals,
So I have to had to turnover one unit so far in my Triplex, and about to have to turn over a second ( from evitction a whole separate post ). I am curious as to how much a unit turnover should cost, and what that includes. My PM charged me 3,500.00 to turn over a 1 bedroom unit. And another 400.00 plus to clean the unit after. The former tenant, let the fridge kind a mess, Ice in the freezer, the bathroom was gross, and left some clothes hangars and small effects behind. I can attach phots that my PM took. As well as photos that the PM took after the vendor "turned the unit over" They facilitate the vendors, I have no idea who they are and have asked for itemized receipts twice so far and have not received them. I feel like this price is pretty steep. But this being my first rental property and a tenant that I "inherited" (same with the eviction) I have a second unit that will need to be turned over after going through the eviction. So any and all advice will be greetly apprecaited!
Post: Looking for somone to replace a storm door.

- Montana
- Posts 15
- Votes 16
Hello Guy and Gals,
Im looking for some one to either fix or replace a basic storm door at my property in Cleveland. My PMs guy quoted me a pretty high price (or what I thought, pretty much with any maintenance) . If any one has any one to recommend for this please I would appreciate any and all information.
Post: Buying my first property, Transferring Deed, and LLCs

- Montana
- Posts 15
- Votes 16
Quote from @Ashish Acharya:
@Andrew Foster Congrats on your first property! Here's the best approach:
- Pay the Down Payment Personally since the mortgage is in your name. Don't use your LLC account yet.
- Wait a Few Months Before Transferring the deed to the LLC. This lowers the chance of triggering the “due-on-sale” clause.
- Consider a Land Trust to transfer ownership without alarming the lender.
- Once transferred, use the LLC’s account for all rental income and expenses to keep it separate.
This post does not create a CPA-Client relationship. The information contained in this post is not to be relied upon. Readers should seek professional advice.
Thank you very much for the feedback!
Post: Buying my first property, Transferring Deed, and LLCs

- Montana
- Posts 15
- Votes 16
Quote from @Bob S.:
Quote from @Andrew Foster:
Hey guys,
So I have an offer accepted, I'm looking to close in 30 days on a multi-family in the Cleveland area. I'm curious on how to go about paying the down payment so that I will not potentially trigger a "due on sale clause", when I transfer the Deed to my LLC. I still plan on personally guaranteeing the loan to secure it. Should I have the funds come out of my LLCs account for payment or is it fine paying the down payment out of my personal account then once the property is paid for, transfer the Deed to the LLC. The LLC would collect rental payments in a business account and make the monthly payments on the mortgage operating like it should. (but mortgage would be under my name still). I've been told to "Wait a few months before transferring the Deed". In advance I'm sure people will ask why I would have it under an LLC for my first property, of course liability protection but the main reason is Taxes, I'm not trying to have the added income from the property be on my personal tax returns. I appreciate any and all input!
Who walked this property for you and gave you the reno budget? PLEASE do not tell me your realtor. Do you know how much the reno should be? Does it have the led cirt, and rental reg, and do you know how much they will cost you? Is it rented aer they current? Any tenants SEC 8 , and if so do you know if they are actually still on the program and current on their portion ?
Hey Bob thank you for the reply! So the first property fell through after I got the inspector in there. He flew a drone and saw that there was more roof work than I felt comfortable taking on, ontop of some code violations in one of the units and exposed knob and tube wiring in the attic space.
I do currently have another property under contract. I am waiting to have my PM and Agent do a walk through (he does pretty thorough videos for me as I am an out of state investor). Here is what I do know so far.
Property is a Triplex with 2 units currently rented ou CMHA. 3rd Unit Vacant, renovated and rent ready. Rent rolls show rents are up to date. 1 unit had lapse in payment for one month. This was evidently due to a refrigerator that needed to be replaced to stay in compliance for CHMA. The tenant wasnt allowing delivery and replacement for some reason. Which caused a lapse in compliance. It ended up getting sorted out and the rent got issued through the CHMA, but there WAS a delay. The leases look to expire, one at the end of this month, and one the end of next month. So I am currently looking to see if they are getting renewed, and if the CHMA will be renewed as well. I do have copies of the leases, Rent rolls and the P&L Sheets. When my Agent and PM do the walkthrough, I plan on having my Agent give the tenants an Estoppel Agreement to fill out so I can attempt to have full transparency of the leasing situation. As far as Lead Cert, I don't have that answered yet, I would assume doubtful from just my little experience of a majority of the properties in Cleveland that ive seen on the market.
I appreciate any and all feedback!
Post: Buying my first property, Transferring Deed, and LLCs

- Montana
- Posts 15
- Votes 16
Quote from @Cameron Green:
It sounds like you're on the right track! I also own properties in the Cleveland area and initially paid for them under my personal name before transferring them into my LLC. It was super simple to do, and as long as you're personally guaranteeing the loan, you should be fine.
Regarding your question, it's generally safer to pay the down payment from your personal account first, then transfer the deed to your LLC afterward. This way, you avoid triggering a "due on sale" clause. Just make sure you document everything properly, and once the property is in your LLC, it can operate as you described.
As for your concern about taxes, keeping it under an LLC is a smart move for liability protection and managing income. I used the same LLC for multiple properties and only changed it when I adjusted my strategy. Creating a new LLC for each property can be costly in Ohio, so consolidating can save you money and hassle. You've got this—just make sure you have everything set up correctly!
Thank you for the information! As far as documenting everything properly, could you elaborate a bit more? I just want to make sure I have all T's crossed and I's dotted.
Post: Buying my first property, Transferring Deed, and LLCs

- Montana
- Posts 15
- Votes 16
Thank you very much for the prompt replies guys. The information have been extremely helpful and will definitely help guide me in the right direction!
Post: Buying my first property, Transferring Deed, and LLCs

- Montana
- Posts 15
- Votes 16
Hey guys,
So I have an offer accepted, I'm looking to close in 30 days on a multi-family in the Cleveland area. I'm curious on how to go about paying the down payment so that I will not potentially trigger a "due on sale clause", when I transfer the Deed to my LLC. I still plan on personally guaranteeing the loan to secure it. Should I have the funds come out of my LLCs account for payment or is it fine paying the down payment out of my personal account then once the property is paid for, transfer the Deed to the LLC. The LLC would collect rental payments in a business account and make the monthly payments on the mortgage operating like it should. (but mortgage would be under my name still). I've been told to "Wait a few months before transferring the Deed". In advance I'm sure people will ask why I would have it under an LLC for my first property, of course liability protection but the main reason is Taxes, I'm not trying to have the added income from the property be on my personal tax returns. I appreciate any and all input!