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All Forum Posts by: Ed Perez

Ed Perez has started 6 posts and replied 42 times.

Post: Residential Assisted Living

Ed PerezPosted
  • Cleveland, OH
  • Posts 42
  • Votes 12

hi Gene, Isabelle already sent me an invoice for the upcoming training in March 2017. It's just frustrating dealing with government agencies. They just don't want to spend some time with my questions. I've been bounced back and forth to different agencies. 

How was your training in Mason, Ohio?

Post: Residential assisted living facility

Ed PerezPosted
  • Cleveland, OH
  • Posts 42
  • Votes 12

Post: Residential Assisted Living

Ed PerezPosted
  • Cleveland, OH
  • Posts 42
  • Votes 12

Hello, 

I'm looking into starting a residential assisted living (RAL) business in Ohio and would like to know which State of Ohio department(s) has (have) regulations on RAL. The no. of beds my property can accommodate is no more than 8 beds. Looking over at the regulations of the Ohio Department of Health (ODH), if I'm not mistaken, they only have jurisdiction over facilities that house at least 17 residences. I've called and left messages to different departments and, unfortunately, I have not gotten any proper guidance. I would like to know what regulations will apply to my situation (8 beds). If you can provide the exact OAC and/or ORC rules, that would be great.

Thanks in advance,

Ed

Post: East Cleveland Project Funding

Ed PerezPosted
  • Cleveland, OH
  • Posts 42
  • Votes 12

Other places are much better for RE investing other than East Cleveland (bang, bang bang!) especially for beginners, in my opinion. Garfield Heights, Bedford, Maple, and Warrensville Heights are so much better and the amount of money for rehab will require a lot less $$$ because these houses so much smaller compared to the houses in East Cleveland. 

I'm with Kim Meridith Mampton... just move on if there were no damages on the property. 

Post: New Member from Cleveland, Ohio

Ed PerezPosted
  • Cleveland, OH
  • Posts 42
  • Votes 12

@nicholas, Welcome my fellow engineer graduate! I have a degree in mechanical engineering and just left my full time engineering job 9 months ago to be a full time RE investor. I enjoyed doing this more than doing engineering calculations 5days a week. I needed a change after 26 yrs. You're on the right track! I think you're in a right location to invest. 

Post: Any investor friendly realtors in Cleveland ohio

Ed PerezPosted
  • Cleveland, OH
  • Posts 42
  • Votes 12

hi Charlene, please send me a PM. I have a perfect neighborhood that is not a war zone.

Post: Any investor friendly realtors in Cleveland ohio

Ed PerezPosted
  • Cleveland, OH
  • Posts 42
  • Votes 12
Originally posted by @Charlene Isoh:

I'm currently looking at areas with a lower price point to start in but not located in "war zones" i've heard that I might find this in Cleveland, Ohio and would love to speak with a investor -friendly realtor that understands that market.  A little about me, i have about 20k saved up in invest-able cash ...looking for areas that have properties 20k and below and still in a workable neighborhood my main focus is single family or duplexes (to start) i'm more so interested in cashflow to buy and hold  (appreciation is an added bonus but not my biggest concern) i would ideally like no less than 12% cocroi ). Looking forwarding hearing from you guys!

Best,

Char

Post: Tenant paid rent but not Late Fee

Ed PerezPosted
  • Cleveland, OH
  • Posts 42
  • Votes 12

I had the same situation in the past. What I've done in the past was I gave him a list of charities to contact that provide assistance to families that are experiencing hard times. Your tenant will appreciate that more than demanding late payment from them. You will leave a bad taste in their mouth should you demand $$$.

My advise is don't nickle and dime them especially if they're taking good care of your property, not to mention paying on time. If this becomes to be a pattern, however, you have no choice but to ask them to move since you're running a business and not a charity. 

Just my two cents.... good luck.

Post: new kid in the block

Ed PerezPosted
  • Cleveland, OH
  • Posts 42
  • Votes 12

@Ryan Arth thanks. I will be joining the Canton/Akron REIA soon. I'd like to partner up with investors who have experience in residential assisted living.

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