Your Rental Portfolio is a MESS! Now What?!?
Normally, the biggest complaint investors have is that they are not making enough money on their real estate investments.
Owners often don’t understand the repair costs; especially in a market like Cleveland!
Many homes in NE Ohio are around 100 years old, no matter how much you update these homes, there are repairs needed on a regular basis.
Also, the extreme weather leads to many problems; we live in a very rainy area with snow and ice as well. These conditions lead to roof problems, basement leaks, etc.
Dave highly recommends not to wait to file for eviction when you have a tenant who doesn’t pay. Many times, this is the only way to collect the rent. Sometimes people will pay right before the actual eviction occurs; the rent is collected and court fees are paid by the tenant (make sure this is on their lease!). They are welcome to stay, as long as they (eventually) pay.
For more details, LISTEN to our PODCAST where Mike Ferrante from Century 21 HomeStar and the 21 Mike Team and Tony Geraci, Broker/Owner of Century 21 HomeStar as they speak with their special guest Dave Koenig of Pine Creek Property Management about real estate investment properties/portfolios.