All Forum Posts by: James Maradits

I second what @Ryan Arth said and would recommend reaching out to @Aaron Westerburg

 This is not the case.  There is a large demand for rentals in Lakewood.

If you could post a picture it would help.

There are few different sized boxes that are used, but usually a new light will have multiple sets of mounting holes on the bracket to compensate for different lights.

If the tab is broke off the box, you may be able to use something like a toggle fastener to make it work.

Thanks for the input, Don!  I agree that the exterior should be the only thing needed in most cases.

Thanks for the feedback everyone.

@Blake Johnston I agree that it is probably overkill.  It was a typical high pressure sales scenario.  First guy came out to sell their "patented multistep system" and quoted me $22k.  I said no.  The "boss" came back and told me he can work with me and do $15k,  I said no.  He then got it all the way down to $14k (miraculous, I know).  In all realty neither of them mentioned anything about the source of the problem, they just kept talking about their "famous system"  I think I will be going elsewhere

@Amy Beth  I definitely agree with you and intend to get an estimate from as many people as it takes until I find someone I trust!  I'm going to have the gutter drains looked at before I make any decisions on the basement. Thanks for the input.

I'm curious to hear what others are paying for basement waterproofing.

I was just quoted around $14k to have the exterior dug and waterproofed as well as put an interior drain system put in for about 126 linear feet of basement wall.

In the past I've been quoted roughly $100 foot per linear foot.

Please share if you have any experience or input on this.

Good work so far!  Share some pics sometime.

I put an electric tankless heater in my personal residence and love it!  It's the "eco smart" brand.  I got it off amazon for around $300 I believe.  Takes up no space,  was significantly cheaper than a standard water heater, and saves on the electric bill quite a bit from what I can tell.  Mine uses 80 amps, but I have two 40 amp double pole breakers.  I imagine you can do the same otherwise you'll have to run huge 3 gauge or so wires to it (don't quote me not an electrician).

All the areas you mentioned have good potential.

Obviously part of it depends on where you want to be, but If I were in your position I would try to find a triplex or quad in Lakewood to get as many units as possible with your VA loan. Cleveland Heights and Lakewood are the two suburbs that I see the most 3-4 unit multi families available.

There is the potential to find a newer construction duplex in Parma or a few of the outer ring suburbs.  This is nice from a maintenance standpoint, but probably won't cashflow quite as well.

Good luck!

There's obviously multiple ways to look at this, but the two scenarios that I don't see how anyone could dispute are:

1. Buying a multifamily where the other unit(s) completely cover the PITI and you're living rent free, have tax advantages over renting, build equity, sell with no capital gains after living in it for 2 out of 5 years, etc.

2. Buying a distressed property as an owner occupant and fixing it up while living there.  I recently did this.  My offer got priority over investor offers from fannie mae since I was purchasing as an owner occupant.  I paid $44k and it just appraised at $115K.  I just pulled out 80% of the equity to buy 2-3 similar houses with to use as rentals.  I'll sell after a few years and repeat.

Congrats!  Looks like some extremely high end finishes for a $68k house!  Glad you were still able to profit.

I think in hindsight you'll value the experience having done the work yourself on the first one.  Definitely puts things into a better perspective when moving forward, and gives you a realistic idea of expenses and an all around general knowledge of rehabbing.