All Forum Posts by: Joshua Thang

Yes, there's a living room, dining room, kitchen on the appraiser's report and then they called the what I thought to be a 3rd bedroom to be a "den". The "den" is over 200 sqft and has an openable window and door with 2 closets.

Yes 2 closets, minimum height requirement met, it's bigger than the bedroom than the other rooms that was considered a room, 1 window, and 1 door.

Hi,

So I have a situation where Cuyahoga County records states my house has 2 beds but my house has 3 beds. The appraiser came in and appraised it as a 2 bedroom and called the 3rd bedroom as a "Den". Is this something I can dispute and get the 3 bedroom so I can increase the appraisal value? What is the process like to change Cuyahoga County records? Are there any risks?

Thanks,

Joshua

Has anyone tried requesting a sec 8 rental increase but the rate comes in lower than the current rate? Would sec 8 decrease the rent to the calculated fair market value of rent or at worst case scenario remain the same and sec 8 decline the increase?

Hi,

I'm looking for a DSCR lender who accepts transfers of appraisal report (less than 2 months old) and credit report (less than 1 month old). I'm trying to get a cash out refi done but I'm having trouble getting it to the finish line with current lender.

Thanks,

Joshua

I will be in Cleveland next week to walk properties. Please send me any deals in Euclid, South Euclid, Garfield Heights, West Side of Cleveland. Preferably would like pp to be in the $70k, rehab $20k and all in to be less than $95k. Minimum ARV of $130k.

Also looking to connect with more property management companies, contractors, and wholesalers.

@Colleen F. - My thoughts exactly! I paid for the repairs immediately but the 3rd inspection based on what I've been told, the inspector didn't show up then rescheduled again, tenant had covid, then rescheduled again. I will be having a call with my PM and CMHA because something's not adding up.

@Colleen F. I was getting failed for having unused hot water tank, windows nailed shut, loose hinges, defected paint areas, etc.

Thanks everyone for the input. In this scenario this was an inherited sec 8 tenant when I purchased the property. Based on what I've been told by my property manager, repairs were done in mid may but it took forever to reschedule the final inspection due to tenant having covid and reasons beyond our control and each time inspection was rescheduled, it was spaced out for at least another 2 weeks...

Hi Everyone,

Does anyone have experience or frustration with CMHA not paying back rent during the inspection period? In my scenario, Sec 8 came out to do their inspection on the property around end of March but it didn't pass inspection after several tries until end of June. I paid my property manager in April for the repairs that needed to be done on the property as soon as I knew about it. Now that inspection is cleared, CMHA refuses to pay back rent for May and June. Some of the reasons why it got delayed was because tenant got covid and it had to be delayed for another several weeks. Is there anyway I can recoup back rent I didn't get during the inspection period?? My PM said it's not possible.....even though everybody says Sec 8 provides guaranteed rents...