All Forum Posts by: Brianne Leichliter

Thanks @John Lyszczyk for the post!  I am experiencing this right now.  I've had a new deck on my list at one of my multi-families in Cincinnati for the past two years with the anticipation of doing it this summer.  I was going to delay, but unfortunately can't due to the condition of the deck.  As you can imagine, my estimates are through the roof for the  materials.  Oh COVID...how we are enjoying the repercussions. 

Thanks @Todd Dexheimer for your recommendations.

Cincinnati is the winner for me!  I moved from PA to eat, sleep, and breathe the city here.  So much opportunity!  I started off finding my agent on BP almost two years ago and now we're partnering.  It's been great!  Looking forward to hearing more from you.

@Greg Scott I assumed that was the case as well.  Very interesting story.  I'm sorry he has to deal with that.

Hello BP!

I'm interested to hear "updated" feedback regarding investing in condominiums.  With more people working from home and wanting separate spaces from others, are you seeing in your markets any growth in condominium rentals?  If so, are they vacation rentals, airBNB, or long-term rentals?

I'm in the Cincinnati market and am interested in hearing the experiences of others.

@Mary Lopez I invest in Cincinnati and have some contacts I can share with you for banks that provide commercial lending on multi-families.

@Zaid Bender like many others said, Ohio!  There are several growth markets here.  I'm personally in Cincinnati (started as an OOS investor before moving here) and investing in Cincinnati.   There is multi-family potential for sure, but not a lot of low-purchase price multi-family, which a lot of investors are looking for.  I only invest in multi-family and have used various strategies to procure my properties (house hacking, private money, etc).  

@April Savoie - I would first start by checking to see if there is an actual meter outside and call the utility companies to verify if there are separate services for each unit.  If there are, and the meters are in the basement and not to code per your building inspector, then you will need to do something about it.  If not, then what @Nate Bell mentioned is the case of the landlord billing back tenants (this is only legal in certain areas, so make sure you check your local laws).

In the case of open air, he is correct.  You must have a form of egress in each bedroom for emergencies.  If the building inspector is telling you this info, you need to listen or you can face serious fines.  Do not go by the word of the current landlord.  There is a reason they are selling.  It's also worth it to check with the city to see if there are any open violations against the property.

@Jim K.  completely agree.  I am actually a Section 8 and subsidized housing landlord.  The right type of communication has been the key to my success with those types of tenants as well.  I still hold them tight to the contract, but how I communicate is tailored to the person.  Those parasitic tenants are the absolute worst though.  I luckily only have dealt with them through "inherited" tenants and they usually immediately get a notice to vacate upon closing.

Great post @Jim K.  I would agree with you.  There is a balance most definitely.  I have a similar experience with inherited tenants as well, although not payment related.  Luckily they were on a month-to-month, so I could terminate the relationship.  Still ended in eviction, but well worth the experience. 

When I think about the "business relationship" terminology, I think it does still apply here, but I look at it differently. Signing a lease (the contract) enters into a business relationship.  The contract is what keeps the relationship balanced and what the tenant agrees to.  If they break that contract, we're out of balance and it needs to be corrected.  

Love your biology analogy.  It's great and I do agree.

Hi @C. Gorm.  Great question!  Where is this located and what is the eviction for?  I would be wary of purchasing a property with a pending eviction during the CDC Moratorium.  Has the eviction gone to court yet?  If so, what was the outcome?  I have had to do an eviction in OH during the CDC Moratorium.  Interesting times we are in!