All Forum Posts by: Alex Rehman
Alex Rehman has started 8 posts and replied 91 times.
Post: Out of State Investing
- Property Manager
- Cleveland, OH
- Posts 95
- Votes 74
Hi Justin,
I can understand your concerns about investing in DC. It's always wise to consider other options and explore different states for investment.
Being biased Cleveland is a great city in Ohio for real estate investment. The city has a low cost of living, which makes it attractive for renters. Additionally, the property prices are relatively low, and the rental market is stable. The appreciation rate is also good, making it a good option for long-term investment. Long story short, it is a cash cow. DM me, to show you the options.
Post: Small multi-family investing.
- Property Manager
- Cleveland, OH
- Posts 95
- Votes 74
PM you, Anthony.
Post: Evaluating/Handling a 5 Year Rental Agreement in Ohio
- Property Manager
- Cleveland, OH
- Posts 95
- Votes 74
You cannot ask the tenant to increase the rent as agreement clause 17 states that for the entire agreement, all clauses shall remain the same. However, you can evict/terminate the agreement and then enter into a new agreement with the increased amount of rent.
Long story short, you cannot increase rent by having this agreement, but you have the right to terminate the agreement.
Post: Need a Property Manager in Cleveland (Section 8)
- Property Manager
- Cleveland, OH
- Posts 95
- Votes 74
Hi Henry, Check your Inbox. Thank you.
Post: CMHA Section 8 Refuse to Pay Back Rent During Inspection
- Property Manager
- Cleveland, OH
- Posts 95
- Votes 74
When CMHA is placing a tenant and the inspection fails then, CMHA doesn't pay until the inspection is passed & Tenant is placed. But if the inspection is an annual inspection and after the tenant has lived there for 1 year. CMHA PAYS even if the inspection fails for 3 consecutive times or almost 2 months then when they cancel the contract on the bases of failed inspection they stop paying.
Joshua, check your inbox.
Post: PM companies buying recommendations.
- Property Manager
- Cleveland, OH
- Posts 95
- Votes 74
Anyone who can help to buy a Property Management Company or its Portfolio?
Post: Need Recommendations For Good Property Mangagers in Columbus and Dayton OH Areas
- Property Manager
- Cleveland, OH
- Posts 95
- Votes 74
Hi Gavin, I can help you. Please check your Inbox.
Post: New Investor, Out of State, Need Property Mgmt and Handyman Referrals In Ohio
- Property Manager
- Cleveland, OH
- Posts 95
- Votes 74
Hi Marcus, check your inbox.
Post: PM companies buying recommendations.
- Property Manager
- Cleveland, OH
- Posts 95
- Votes 74
Quote from @Bob S.:
Quote from @Alex Rehman:
Quote from @Bob S.:
Quote from @Alex Rehman:
Any recommendations on where to buy PM companies as a whole or partially their portfolio?
You want to buy a PM co?? Are you licensed in OH ? What is your budget?? How many properties have you done out there?
Yes Bob, of course, will comply with all legal requirements. Whether you have 10 or 10,000 units, I can make you an offer.
oK, you will need to send me a POF( NOT a HM letter ) I know them all out there
Post: PM companies buying recommendations.
- Property Manager
- Cleveland, OH
- Posts 95
- Votes 74
Quote from @Nathan Gesner:
Buying PM is just like buying real estate: you want to look for an off-market deal that has been neglected/ignored/abused with a lot of up-side. You clean it up, get their rates up to market, and can increase profitability dramatically.
PM companies listed for sale publicly are probably at market-value with very little meat on the bone. Your best bet is to look for a mom-and-pop operation. I think cold-calling would be the best solution. Find a PM that is tired or stressed and wants out of the game. They often have poor systems in place, their fees are low, and things are a general mess. You buy them for pennies on the dollar, clean them up, and your revenue-per-door goes from $92 to $225 in 1-2 years.
I'm hoping my wife will let me do this once the kids are older. A good PM company can earn hundreds of thousands in pure profit, per year, in perpetuity, without owner involvement. All you have to do is crack the code, then rinse and repeat on each business.
Thank you, Nathan.