All Forum Posts by: Dell Schlabach
Dell Schlabach has started 10 posts and replied 873 times.
Post: Exit Strategy Help! First rehab has gone wrong...
- Investor
- Canton-Akron, OH
- Posts 916
- Votes 476
At this point it looks like you will be somewhere between break even and making 20,000.
I would do my best to keep costs down, get the rehab completed asap to keep the cost of money at a minimum.
I would much rather be at break even, feel the pain, learn my lesson, and move on then refinane a property that doesn't cash flow, and drag the pain out for another 10 years or more and hope to break even then.
Post: Stuctural Engineer/foundation expert
- Investor
- Canton-Akron, OH
- Posts 916
- Votes 476
Originally posted by @Robert Weekley:
I need your help finding a good structural engineer or an expert in foundation repair in the akron/canton ohio market.
Post: Stuctural Engineer/foundation expert
- Investor
- Canton-Akron, OH
- Posts 916
- Votes 476
We use Pioneer Basement Solutions in Canton for all our foundation issues, straps, piers, posts, replacing walls, waterproofing.
They have solved a lot of foundation issues for us over the years. Always prompt professional and knoweledgable, and provide transferrable warranties for our buyers.
Ask for Caleb Andrews.
Post: Documentation and structure for private lenders
- Investor
- Canton-Akron, OH
- Posts 916
- Votes 476
Originally posted by @Jonathan Z.:
Any suggestions on documentation or things I would need to address when writing up terms for a private lender? For instance is there a common document used or legal structure anyone would recommend.
We buy all our properties in an llc, our private lenders get
1. Promissory note spelling out the terms.
2. Mortgage
3. They get added as an additional insured with insurance co.
Post: AC replacement cost in Ohio
- Investor
- Canton-Akron, OH
- Posts 916
- Votes 476
Originally posted by @Adam Craig:
Me and my HVAC guy had a falling out which was unfortunate because he had some solid prices and I always get a working AC in my rentals.
I was getting most of my AC unit replacements for around 2200 and new AC systems for 2500. I am getting ready to shop it again but are those decent rats for low level ac systems?
What are you getting them for?
You shouldnt have much trouble getting someone to match that price or do better.
We get all our new ones installed for 1,8000- 2,000.
Post: The Strangest Rejection I've Ever Received
- Investor
- Canton-Akron, OH
- Posts 916
- Votes 476
A thought.
Find someone she trusts and respects. Maybe her pastor, one of her children, sister, brother.
Someone she trusts that could reason with her.
Post: Looking for a CPA in Ohio
- Investor
- Canton-Akron, OH
- Posts 916
- Votes 476
We have been using Jeff Craft CPA, JCraftConsulting.com. for about five years and are very pleased with his knowledge and service.
He owns rental properties himself, and was a partner in rehab and flip business for years.
They tailor their services to the needs of clients, although we di all our data entry into QuickBooks, it's a service they provide for the investors who don't want to do any of that detail work.
No affiliation, just very pleased with his work.
Post: Newbie from Canton, OH (Caribbean of the Midwest)
- Investor
- Canton-Akron, OH
- Posts 916
- Votes 476
Welcome to Bigger Pockets, neighbor.
We are in the Buy Rehab and Retail business, based in Canton, although rarely so anything in the city, some in North Canton , Jackson, Green, as well as Summitt and Portage Counties.
Sounds like you are pursuing a different strategy then we are, if you want to meet up for coffee some evening, be glad to meet up.
Post: Newbie from Canton, OH (Caribbean of the Midwest)
- Investor
- Canton-Akron, OH
- Posts 916
- Votes 476
Originally posted by @Daren Wendell:
Hello BP!
I am a real estate investment rookie learning the ropes by a mentor friend who is pretty successful at this in Grand Rapids, MI. He introduced me to it while climbing up Mt. Kilimanjaro earlier this year. From then I have been hooked and have been in a ton of books and forums increasing my financial intelligence ever since. My favorite so far are BP's "The book on Rental Property Investing", Rich Dad Poor Dad, and Cash Flow Quadrant.
My current job is a professional fundraiser and I look forward to connecting my passion of fundraising with the buy and hold market he in Canton, OH. I'm currently looking for an entry level single family rental to get my feet wet a bit.
I love coffee and would love to connect with others in the area so if you are interested please let me know.
Thanks BP community! Grace and Peace, Daren Wendell
Post: New investor in ohio!
- Investor
- Canton-Akron, OH
- Posts 916
- Votes 476
Congratulations on getting your first one done.
Have any pictures to share or a link to the property?
If you run into trouble or need help, not too much we haven't run into. Be glad to help if I can.