All Forum Posts by: Bo Edmond

Hello, I’m active duty military deployed overseas and one of my guys has a significant problem. His wife and two young kids are in Ohio in a house they’re renting. Their AC went out two weeks ago and still has not been fixed. Their landlord is saying it’ll be at least two to three weeks more until the part will arrive and the AC is fixed. He is refusing to pay for portable AC units or put them up in a hotel...meanwhile the house is incredibly hot. Ohio tenant/landlord laws list air conditioning as a requirement. What rights do the tenants have? Could they get reimbursed if they pay for hotel or portable units out of pocket? Is 4-5 week repair time reasonable? Any other guidance? It is extremely difficult to deal with these issues overseas. They have an appointment with a RE attorney on Tuesday next week. Thanks in advance for your input.

All, I appreciate the replies. You've given me a lot to think about.

I've been giving my Mom an "allowance" for years now. She's moving near me and will be renting a SFR property that I'm closing on next week and paying me rent. I'm trying to decide if I should actually have her pay rent so that I can show income on the property and it'll help me be able to get future loans due to the rental income? Or, just stop giving her the allowance and have no income on the property? The PIIT will run about $650 per month and market rent is about $1100. Trying to figure out the most advantageous way to crack this nut from a tax and rental income perspective. I'm meeting with my CPA next week. Any inputs would be appreciated!

Hey guys, I'm new to the PCB real estate arena and I'm definitely interested in the January meeting. Cain, I'd be interested in learning more about the multi family deals you've got as I'm looking to make my first multi fam purchase.

Hi Barry, I'm here in the Panama City area. I'm a fellow active duty member. There are some decent investment opportunities in PC imo. Send me a PM if you'd like more details on this market.

Gents, I am active duty military so making an afternoon meetup on a weekday is difficult. Do you guys ever meet on evenings or weekends?

What time are y'all meeting next Wed? I'm hoping my work schedule will allow me to make it out.

Dan, thank you for the input. I'll definitely be taking a trip up there before buying. Are there any other rebounding cities you're liking better for a 1-2 house rental investment?

All, I'm an investor living in Florida. I'm looking for a great investment property anywhere in the US where I can rent the property out immediately and expect capital appreciation over the next 10-20 years. I'm looking in the $15-55K realm and have seen what appear to be some great options in the Detroit area just west of the University District and east of Hwy 10. This will be my third investment property but my first time buying in a city I don't know (currently own in Edmond, OK (rented) and Panama City Beach, FL (living in)).

Questions:

Not knowing Detroit, is this a good area? I've seen several listings with Section 8 tenants currently living in the home and the price to rent ratio seems favorable ($25-55K house with $750-900/mo rental income).

Should I be looking at a different city other than Detroit? At the right price, I could be in the market for 2 properties. It just seems like there are still many great investment opportunities in Detroit but I've also seen Pittsburgh recommended.

Any good realtor/property management company recommendations?