All Forum Posts by: Sofia Komrskova

Area is fine. The rent is high for just a 2 bed though, I don't think you will get 1300 for that. Overall I'd say the deal is not that great. You can get 3/1s and 4/1s in Garfield Heights at that price that will actually cashflow at 1300. Again, biggest issue here is the fact that it's only 2 beds. 

Most realtors will want a firm commitment in the form of an exclusive buyer's agreement. Being a realtor is tough, and there are quite a lot of unserious buyers that are just poking around. You can try reaching out to a bunch of them but you most likely will get lackluster response if you don't show some basic level of commitment on your end. 

Don't do home warranty. Learn basic maintenance stuff from YouTube (caulking, painting, learn how to use a drill, etc) and find a well priced handyman for maintenance. Look for somebody who doesn't have all the bells and whistles(fancy van with wrap, marketing, uniform) because you will be paying for that overhead if you do. Just a local guy/gal that wants some side work here and there. Make sure you have a bulletproof lease, treat the tenant fair but set expectations early on. 

Your contractor is on the money here. Follow that plan. Go in again in a month or so to check on the unit. If it has significantly deteriorated, accelerate her move out date. Either way, you definitely don't want to keep a tenant who blatantly disregards your rules or leases. Sooner or later it will come back to hurt you. 

Find a good agent who can write a vacant/builder's risk policy, then during the refinance have them switch to a landlord/fire dwelling 

@Jerry Maliszewski Agreed. I think public perception of the Midwest has not caught up to the reality on the ground. Anyone who has spent time in either of these cities since 2015+ has seen the tremendous amount of progress that has been made. 

Don't spend that kind of money on courses. Just google it or come here. 

If you found somebody willing to lend the full 100% in exchange for 50% even though you have no experience then you've got yourself a unicorn. There is no better situation or opportunity to be in than that. You are basically saying somebody is willing to front the entire risk while you keep 50% of the spoils. Learn how to find off market deals and good contractors. Delegate the rehabs to them and then get the properties sold. If your lender has some money floating around send me a dm too :) 

Waste of time. Just deduct security deposit and move on. If you insist, try skip tracing if you have one of their phone numbers. Might take a few months for the new address to show up on those apps. But again, probably not worth the hassle. 

If you can talk to a local appraiser before the refinance then ask them  what implications on appraisal price a finished basement would have. If it's net positive, then make sure to do it up to code, etc so the finished square space can count. If it won't have any effect then don't do it.