All Forum Posts by: Joshua Janus

So my property is at the edge of a city limits  3 house to the right starts a new city and my appraiser said i can only use comps in my city limits i can’t go out of my city limits 

has anyone else experience this or have information on if that is correct 

Hello! I am excited to be part of this group. I have been looking at REI for sometime and decided to finally start researching. What I am trying to determine is the best course of action to begin with. I am located in Venice, Florida and I'm in an area where vacation rentals are a popular choice. Any recommendations on if I should look at property for vacation rental or if it makes more sense to look at a property for long-term rental? The real estate market in my area is now stagnant with a surplus of inventory. I have also been listening to podcasts that discuss seller financing. So that leads to my next question... Should I locate a mortgage broker or start with a realtor? Ideally I would like to keep my personal finances separate from my REI.

Hey BP community!

I’m expanding my fix & flip operations to Columbus, and I’m looking to build a solid team. I need experienced realtors, boots-on-the-ground, and contractors who have worked on fix & flip projects before and know what it takes to get the job done efficiently.

If you’re local to Columbus and have the experience, I’d love to connect! Please reach out, and let’s see how we can work together to make some great deals happen.

Looking forward to hearing from you!

Hello,

I am a 21 year old real estate investor out of Los Angeles California. I own some rentals in Cleveland and Milwaukee and I am a couple of weeks from closing on another multi family in Wisconsin. I am interested in any advice I can get in regards to expanding my portfolio in Cleveland? The do's and dont's would be greatly appreciated as I am always trying to learn. Any advice? All investors welcome

Looking for the best property management in Cleveland! This is our first property, it’s rented out until next June and we are looking for a property manager that won’t break the break too much 😉. 

My boyfriend and I are looking to purchase 5-10 properties in the next 12 months that will be then rented to Section 8 tenants. If we find good financing, we can purchase the houses in the next few months. This is in Ohio State.

I do not anticipate the purchase price to be higher than 80,000 USD. However, here is the tricky part. My boyfriend is a foreign national with an ITIN number, US address, and an AMEX in the USA, but he is not a US citizen, so a lot of the times, he is not offered good loan programs. I am a US citizen with a 680 credit score (actually, credit karma shows 680 for one bureau and 710 for another bureau), but I haven't worked in the USA for years, and overall, we are looking to get a DSCR loan. I have one Amex card showing up and a bunch of student loans - do banks take these as trades? Overall, I am trying to find a bank that can still do 85% LTV with this type of credit. Or if there are other nonconventional ways to find financing - please let me know! Since our goal is to scale in real estate and we do have the funds, we would prefer to minimize the deposits and invest into reno where necessary and keep the capital for now for improvements, if they arise. Thank you all in advance!

Hello BP Fam! Anyone here have experience with Rent by the Room in CLEVELAND HEIGHTS? I am purchasing a Duplex 5bd/2bth each side, and planned to house hack one side and rent out the rooms. 

1. I'm struggling to find ordinances surrounding the requirements and regulations with this strategy in Cleveland heights. ANY INSIGHT?

2. Any property managers in Cleveland that would take on properties renting by the room?

3. Would generally love to connect with anyone who has experience in the rent by the room model as this is my first time using this strategy.

Thanks in advance :)

Hi BP. Out of state beginner investor initially looking at single family/duplex in Cleveland area to rent to section 8.

The more research I’ve done and the deeper into the process I get I’ve noticed that I’m starting to lean towards appreciation instead of cash flow due.

Is this a natural line of thinking? My wife and I are high income w2 and thought it would be a good idea to expand our portfolio with real estate to help with taxes. However, we also don’t want to invest too much initially due to the learning curve of real estate so we figure starting out with a smaller budget and learn the ins and outs especially developing a team we trust before buying at higher price points.

So here’s the question, for someone not depending on the cash flow as income, is it better to find properties that will cash flow at lower purchase price and find ways to spend the income to avoid taxes or to give up some cash flow and possibly even be at a loss for a few years to buy at a more expensive price in a better neighborhood, be able to take the tax savings each year, but also have a better rate of appreciation? 

Hello Fellow Investors!

I plan on renting out my investment property in Cleveland, Ohio as a long term rental. I would like the system set up where the tenant pays for the utilities. After speaking with someone who is familiar with this market, I learned that you could have the tenant pay all the utilities except the water, the landlord would have pay for that. 

I wanted to know if this is something that is required all throughout Ohio or if this varies by city or property management company. All information and advice would be greatly appreciated! 

How have you set up your system?