All Forum Posts by: Kristopher Hanks

@Michael Cavitolo

I learned some very expensive lessons investing in the ghetto in Cleveland. Listen to James. Stay around $60,000 to $75,000 for single families in the suburbs and save yourself a whole lot of time and money. 

@James Wise

I have a very strong stomach, but you are pushing my limits bro!

@Benjamin Ervin

I will keep this short and sweet. Nicely finished. 

@Mindy Jensen

Rentec Direct

National Real Estate Insurance Group

@Jose Baeza

Simple answer, NO! Stay away. 

@Alex Bekeza

I grew up in COMMIfornia and as much as I love my birth place and the beautiful weather, especially in San Diego, where I went to highschool, I thought this was still America. Forced expenses like this is not representative of a Republic, as in the Republic of California. My disclaimer is: I am a huge supporter of solar energy. I looked into it when I owned a home in Arizona. The panels for a 4 bedroom house with an in ground pool and spa were going to cost me $20,000 to install and have to be replaced in 10 years. When I ran the numbers for my electrical bill, it was not an advantage to me at all to install the solar panels. I am sure the technology has improved since then, but we are a Republic and all of these regulations and taxes have driven people out of the states that make these mandates. Texas loves California, because the net out-flow of residents moving from California to Texas, with their businesses, has caused a budget surplus for the state. But hey, if California wants to keep driving people out of the state, have at it. 

Let the Market decide if installing solar panels is the right thing to do. I hope solar energy technology continues to improve, however, we all know that when people are getting their energy for no extra cost over the cost of the panels, the government will step in and find a way to tax it. The utility companies will use their lobby money to make it more cost effective to stay on the grid than it would be to install the panels. Just the way of the world. Why would they give up the huge cash flow they get from electrical plants. 

@Jodi Tommerdahl

Run, don't walk away, from this "deal". Because it is not a deal. It is a rip-off. You can buy an occupied rental house in the Euclid area for that amount of money and some of them can generate $1k per month in rent. Then you won't have to worry about the many burglaries, motor vehicle thefts, assaults, the kidnapping that took place a few streets away, oh and that aggravated robbery that happen just to the south of this property. 

I wouldn't think about touching this property if I could not buy it for about $12,000, even then I have been down this road and suffered already. 

@Vinoth Amar

If you chase high ROI or (rental yield) in Cleveland, there is a high possibility that you will end up in the wrong neighborhood and lose tons of money. Look at lower yields in nicer neighborhoods and you will win over time in the Cuyahoga County area.

This is all sorts of awesome. 

@James Wise

The practice of allowing catch up on rent has been stopped. Going forward new tenants will not be allowed grace periods for catch up. I have been burned enough and this can kill a business, especially a small one just trying to build a solid foundation. 

I have zero guilt with evicting. I have learned that there are tenants out there that will give you the sob story of their money woes only to take advantage of you. One tenant had a story every month about some family tragedy or unexpected job loss because she was in the hospital. After the third event I began the facebook stalking to see what I could find out. Rent money due to me was being spent on hair and nails, and fantastic nights out with the girls. She was evicted. When the Sheriff's Deputies were there to remove her, she had the nerve to call me and beg me not to evict her. She owed 7 months of rent + some utilities I covered and that amounted to $6,000. She offered me $600 in cash to let her stay. I told her to have a nice life in somebody else's rental. 

I don't feel sorry for protecting my business anymore.