All Forum Posts by: Michelle Fenn

I would only offer cash for keys if they will hand over keys in a week.   Otherwise, Ohio is relatively landlord friendly.   If they are blocking your PM and ignoring you, there is a good chance they will ignore an eviction filing.  If the tenants do not show you win.   Hire an attorney and file. 

I am in same position. I am using 1031 exchanges to scale to Class B SFH that need less oversight as I grow older and continue to self manage. It is also put me in a position to select great tenants that would eventually want to become home owners. I am offering to become the bank for those reliable tenants. It continues to provide me with monthly income without the hassles of property management. Much easier to prepare a 1098 annually than answer a midnight call about a plumbing crisis.

Reply to Nathan   Do not get to excited about what Kris Harsh is promoting.  The lead policy committee is considering an alternative test schedule, 5 years after passing 3, bi-annual lead risk assessments.  

I am following your example.  15 years in the Cleveland market and I have used 1031 exchanges to purchase Class B properties in the burbs. I was a licensed lead inspector and often attend the city's lead policy committee meeting, usually the only landlord in the building.  I have been promoting targeted selection for lead testing.   The city evaluated the condition of all the houses in the city 2-3 years ago.   Select all houses in poor condition with children under 6.   That common sense approach would really reduce the number of lead poisoned children in Cleveland.  It would also include owner occupied homes, which the politicians work hard to exclude.  The result is the good landlords comply with registration laws and testing and the city has no idea whom the bad landlords even are.   The current percentage of lead safe properties is between 25-30% and decreasing.

I am a realtor and investor in Cleveland area. I have just sold off the last of my 100 year old Cleveland properties, even though I owned them all free and clear and they were purchased during the last crash. Why local laws. In Cleveland they have enacted Residents First, which translates into a narrative that out of town landlord are "evil" They also enforce a Lead Safe Certification Law which requires that all rentals built before 1978, must pass a Lead Risk Inspection every 2 years. This means you better have new windows, doors, vinyl siding, LVP flooring, composite porches and no bare dirt anywhere. This month a client was required the paint backboard of the garage mounted basketball hoop because there was flaking paint. I personally live in a 100 year old home and after spending a week each painting the basements of my rentals bi-annually, they now look better than my own home. The trend to enact such laws is spreading. Cleveland Hts, Toledo; all the rust belt cities are considering this kind of legislation. 100 year old homes can be charming, desirable and more affordable than a new build but look to local laws. Cleveland's lead safe certification makes it a constant maintenance issue. They claim to have funds to assist landlords in making required improvements, but in 5 years have failed to figure out how to administer disbursements. HUD has now given Cleveland two extensions to spend the funds or return millions to the federal government.

I have a listing in Cleveland, 134900 duplex Cash Flowing at 16% and one of the units is under market rent and area that city is developing.    PM me.

Some of the offers they make with Seller Finance are so ridiculous.   They offer you full list, a tiny payment with a balloon 5-7 years in the future.   No interest rate, no terms.     I find it laughable.      When I ask for terms they never respond.    Guess that is to hard to figure out or they did not learn it in some class they took       LOL

I explain renters insurance during the tenant selection process.   I explain that renters insurance protects them.  The landlord is protected by their property insurance but it does not protect a tenant.  I tell them the story of my neighbor whose pipes burst on the 3rd floor during a bad cold snap.  The water fell 3 floors, when I observed the incident my neighbor was attempting the sweep water out the back door.    The house was made inhabitable.  My neighbor who owned the property and lived in the 2nd floor rebuilt.  The young couple living in the 1st floor, lost everything and was homeless at Christmas.  They had no renters insurance.   My version of the renter's parable.

Is it just my location or are a great majority of rental listings on Facebook Scams. A quick check of new listings results in many listing that seem well below market rates. Googling the address shows Zillow listings at market rent or MLS listings. The listing parties all seem to have 2024 accounts. I

I have not listed on Craigslist for years.   It became a place where my properties were listed fraudulently by others.   It became so bad I documented on other platforms that I do not list on CraigsList.    Last week I was hit by requests via Zillow platform inquiring about my listing on AffordableHousing.com, formerly GoSection8.com.    Sure enough a fraudulent listing of my property.    No email contact address and no one available over the holiday weekend.    I checked their reviews which were very low.    Yet another site defrauding tenants.