All Forum Posts by: Mitchell Krotz

Brian!

I didn't know you were a BP fan! I will check that out and let him know ASAP.

Thanks!

Hello All,

I have an issue for a friend. He took over a 2 rental properties that was already occupied.  One renter has been great, pays on time and has no problems.  The second he has been struggling to collect rent every month. The renter has paid late several times, and is now completely ignoring his phone call.  He is starting the eviction process and put the notice on the door.  I am trying to use his situation as a learning experience (along with helping him out gathering information). 

Has anyone had this situation in the certain location (Columbus Ohio) and knows the process.  Such as paper work, steps, can it be done online or does the paperwork and everything need to be handled in person... so on.

I am a rookie so please be kind! Any and all help will be appreciated!

THANKS!

Now another question I have is if I placed a single family residence on the empty lot, how does that change my main residence after two years and being able to take out earnings tax free? Does this second building fall under some sort of umbrella where I can rope it under the first property since that was all under my first mortgage and the two lots where included under my original residency purchase?   

Ladies and Gents,

Thank You all for your help and input!  I will looking into splitting the lots ASAP and figure out my next plan of action there after!  Thank you so much!

Hello All,

I have been involved with real estate for about 1.5 yrs. I bought a house which I am currently "BRRR-ING" Trying to finish the work up on it by March. The house came with two separate lots, one with the house on it, the other is empty. When I finish the house and get it re-appraised I will be looking to do something with the property (sell, lease out, build something etc). The lot is a corner lot in the Hilliard, Columbus area. Has anyone had this type of situation? I am looking for any possible guidance (I am very new to the game) in terms of what I could potentially do with the property to help me get this real estate thing rolling quickly yet efficiently.

The lot is sized for a single family residence.