All Forum Posts by: Paul Sian

I would add that it does not hurt to talk to a lender now and get some ideas of what they will need from you. A good lender can provide you plenty of info to help you accomplish your goals even before a credit pull. 

I will use it as an excuse to visit once a month but the furnaces are in a basement common area. So don't really have to go into each unit to change filters out. But still wise advice from everyone so thanks!

I recently bought a 4 unit multifamily.  When going through with the home inspector I saw the furnaces did not have any filters in them.  It was warmer at the time and since they were not being run I did not think too much about it.  Went to the building shortly after closing and saw they were running without filters.  I have always learned that the furnaces need to be run with filters and I did go out and buy some for the furnaces.  All the furnaces are new due to the old ones being damaged beyond repair due to a flood.  While I plan to use filters I was just curious does anyone run their furnaces without filters?  What kind of harm could happen as a result?

Thanks

Review the lease terms to see what it says. This would appear to be a case of constructive eviction.  If I were the tenant I would start taking pictures and video of everything.  

For damages to the tenants belongings he may have to file in small claims depending on the value. 

Depending on the location of the property the tenant could complain to the local building or Property Maintenance Division as well. 

Just a note, if your property is in an LLC then for evictions in Cincinnati you will need to have an attorney do the evictions. You can do evictions on your own if the property is not in an LLC. Picking good tenants can help reduce problems with that.

As for lenders and LLCs each lender has their own policy and you will need to talk to a few different lenders to see how they will treat LLCs. I know some lenders will allow you to quit claim a property into an LLC after purchase but for others it may trigger the due on sale clause.

Try Roehr Agency In Cincinnati. 

I have had them give me quotes on a commercial/residential building.  They were able to give quotes when other agencies were not, although I ended up not buying that building  

Aubrey,

Who is your hardwood and plumber rec?

Thanks!

thanks Jim!

Looking for names/contact info for a few different rehab contractors.  Would need things like flooring, walls, etc. etc.  Any recommendations for Cincinnati and NKY area contractors?

Thanks

Aubrey,

Congrats on your new investment  I am also in Cincinnati and looking for my first purchase.  What made you decide to buy in North Avondale?

Thanks

Paul