All Forum Posts by: Daniel R.

Hi all- I wanted to ask if I’m missing something obvious, or if there’s something that can be done to fix my troubles.  I have a second floor bedroom in a colonial style home (with a third floor full attic that’s not insulated).  The summers seem to be a little warmer on my second floor,  but winters are extra chilly in one of the 3 bedrooms on the second floor. Am I incorrect in saying that this bedroom has 2 return vents and no supply blowing in warm air?  Is there a new vent with a damper I can install to get warm air to flow in (and cool air in the summer)?  Thank you for your insight!

Welcome aboard Jeff!  I'm in the same boat as you scouting out the red hot western suburbs.  Property values are great for current homeowners, but it can be a little frustrating to see some the market prices in these areas and expect to come out ahead a few hundred every month on a single family or duplex.  Let me know if you'll be at the next BP meetup and would like to chat.  Dan

What are some of the most established or reliable banks out there to put money into a higher interest yielding savings account?  Not necessarily looking for a CD that locks up money for 24/36 months, but rather a fluid account that yields better interest than a standard money market that gets 0.02% interest.  What are the fees, penalties, or other main factors to consider with these accounts?  Thanks!

What is a good, polite, yet “aggressive” approach to write to family that inherited a home from a deceased parent in the neighborhood?  Of note, the family is not local, so there is no prior connection.  How long would you recommend keeping the letter?  Major points to hit or not to hit in this statement?  Would this letter be best written from me, the proposed buyer, or a representative for me?  Thanks!

For the local Cleveland investors out there, which area in Lakewood is the best to be in?  I guess with proper screening, it really shouldn't matter that you can get good tenants.  But if you were a (young professional) tenant, where would you WANT to be?  Downtown Lakewood, western edge of Lakewood?  Clifton?  Take a gamble on birdtown for cheaper property? 

Thanks Jeff for the pointers!  With this seller financing transfer, are there any ticking time bombs to look out for?  Thinking in relation to added costs such as tax liens with foreclosure transfers.  With this peer to peer transaction, I was just curious what other risks are to be assumed in this type of deal.  Thanks!

Hello BP!  I had found a local home listed for sale with seller financing.  What do you look out for in this kind of deal- pros, cons, red flags?  It looks like the home hasn’t been transferred since 2016, so I would be curious what has happened since the current owner acquired it- not enough money to fund a flip?   Outstanding violations to the property not worth the headache of working out?

Why won’t this qualify for conventional financing assuming I have my 20-30% down if i wanted a bank to fund this?  Thanks for the help!  

I also have been intrigued by this idea.  I wouldn't know if contacting schools would be a conflict of interest/frowned down on or actually encouraged considering you have a good reputation.  Curious what thoughts come out of this thread...

@Dori Arazi one other good tool to bookmark:  school rankings!  Again, not to harp down on Euclid again, but as you can see, ranking 596th out of the 608 school districts in Ohio. 

http://www.cleveland.com/datacentral/index.ssf/2017/09/every_ohio_school_district_ran.html

@Dori Arazi best wishes with your real estate ventures in our area!  Just a word of caution on my own behalf, the whole Amazon craze is for a warehouse facility providing low income jobs for packing/shipping, NOT the big secondary headquarters that's been in the news lately.  With regards to Euclid, many locals would not consider it a B neighborhood!  Not to say avoid like the plague, but if you were looking for A/B, Euclid and the Randall Park area may not be desired areas for that.  See the attached article to see how Euclid has changed the last 20 or so years: 

http://www.cleveland.com/architecture/index.ssf/2018/02/can_euclids_new_master_plan_re.html