All Forum Posts by: Christopher Sandys

This past July I had my first single-family home in Toledo approved for a Community Housing Voucher, i.e. Section 8. The three bedroom, 1.5 bath is grossing $1400/month from the Lucas Metropolitan Housing Authority. It is in a C-neighborhood. My all-in acquisition costs were about $20k. That includes all of the purchasing costs plus renovations. After paying the monthly, full mortgage component, I am grossing about $730/month. Break even on acquisition costs in 28 months while government is funding my principal, interest, insurance, taxes, and PMI.

That's a pretty good return, right?  

The major, major issue here in Toledo is the Lead Safe initiative. Enforcement is halted by a court order. If that changes, and I have to install a boat-load of new, piece-of-crap vinyl windows, the entire ROI will change. Heck - the entire rental market for <5 units in Toledo will experience significantly decreased liquidity and availability.

 Auctioned by the bank.  

No Inspections.   Only pictures.  Old pictures.  

I own a house next door to a Multi-family house in Toledo.  The house next door was bank-owned, but they finally found a California investor to purchase 345 Rockingham St, Toledo, OH.  

The current tenants, whom I know, are getting the heck out, because it has been so neglected.  They told me the new owners wanted to sell them the house, i.e. the California investors quickly realized that they are holding a white elephant.   

This house is in a rough state of affairs - market wise.  Regardless of how cheap the acquisition price, getting it market legal will take significant money.  You'll either need to get it section 8 ready, or you will need to get it Pb-certified ready.  Either way, you're probably in for at least another $20-30k.  From what I hear, there are some issues with the plumbing, i.e. big time leaking.  Also, there is a garage that is entirely unstable and unusable.  I'm just waiting for it to collapse into my yard.  The back porch is held-up by concrete masonry units (cinder blocks).  It's just a hot mess.

The current tenants told me that the CA investors said, "It didn't look that bad in the pictures."

I've never done an eviction in Ohio, but I have done them in Connecticut.  My experience is that they are easy and straightforward, and I was getting them done far more quickly than the lawyers.  

I suppose I'm not busy enough!

@Chris Seveney

Hi Chris, Have you ever done a Second Cause?  If so, how did it go for you?

Thank you for the reply.  I'm doing this pro se, so no lawyer.   My tenant is clearing out right now, and at the rate he has been packing and moving, I think he will be gone within 24 hours.

I'm tempted to throw an air tag on his car, so I can have knowledge of his new whereabouts for this purpose.  ("Tempted," I did not say I was doing it.)

In Toledo when performing an eviction, you have two options.  The first, and most common, cause is to evict for possession of the property.  This is the classic "get out of my house" action that most people are familiar with.  The second cause, and one that is not used as frequently, is essentially a monetary lawsuit.  With a second cause you sue for delinquent rent, late fees, damage, et al.

You can file a first cause alone, a second cause alone, or a combined first and second.

My question:  If you plan on filing a second cause (i.e. the deadbeat renter is gone and you have possession), how do you find out where he is to serve him the court summons?  Has anyone done this?

 Are they asking for referrals for contractors and lenders?  Presumably those people get paid.
Are they asking to use your management company?  You don't work for free, do you?

I have no idea how you made the jump to "everyone wants something for nothing."  

It looks like people want to do business. 

The Youtube algos have been sending me your Youtube shorts.  You're doing great!