Fear of the first investment - what are we really afraid of? And how to cope ....
Updated: Mar 26, 2019
Fear of success is equal to fear of failure, and this is reflected in the fact that we only have thoughts in mind about what we will do, and how, but refrain from carrying out business ideas. Our fear is very substantial, and sometimes it seems very logical to us, so it's time to put our thoughts aside and "jump" into the deep water.Most of the fears that guide us come from home and from the style of education we received. Because at one point in our lives comes the need to break away from the old patterns of thought and to activate independent thinking, to dare to think in a new way - and to forget everything you have learned.And still there will always be fears - then what are the fears that arise when buying an asset? and how do we will deal with them?
How do I know the condition of the property before buying?
The building is being inspected by a number of bodies: The first group is Ohad Group, in cooperation with Keller Williams, one of the world's largest brokerage company. second We strongly encourage the investor to obtain an additional opinion from one of the home inspection companies out in the market.
Who received their license to engage only in the audit of assets. These companies are inspecting the property for close inspection of foundations, pipes, electrical wires, heating / cooling system, roof, chimney gutters and more.
The test is given at several levels of your choice, and at the end of the examination the company gives a full and detailed report on the condition of the property.
How will I know if the property is free from liens or debts?
Before purchasing any property we use a title company that examines the taboo up to 40 years ago. The trust company checks who owns the building, whether there is debt and what amount? Are there any warning instructions from the municipality or foreclosures on the property.
The trust company's role prior to closing the transaction is to provide an insurance policy for life, that the property is clean and free and not mortgaged to any person and registered in our name. Which best safeguards us.
What happens if a tenant does not pay rent?
According to the law in Ohio, tenants must pay the rent on a fixed date according to the rental contract on the first of every month, with a period of grace until the fifth of each month. If a tenant has not paid the rent until the fifth of the month he receives a three-day eviction order - in which he must leave the property or pay within three days. if the tenant did not pay or did not contact or did not vacate or did not sign a payment agreement with the consent of the company (prevents additional expenses) a copy of the eviction order attached to the door is sent to the attorney that sets a date for evacuation in court. When we come to court according to the date set by the lawyer we stand before the judge together with the tenant and declare the debt of the tenant, who can either pay or leave within a week, if we do not vacate we call the court bailiff and entrust him with the keys to the apartment to evict the tenant , If the tenant has left his or her belongings in the apartment, according to the law in Ohio, the owner of the property has the responsibility to vacate the contents of the apartment to the nearest sidewalk to allow the tenant 24 hours to collect his belongings.
How will I know that the property is registered in my name?
After the closing day, the title company takes the documents signed by the purchaser (and approved by a notary) to the municipality building, paying a fee for recording the documents in the municipal archives. Once the documents are recorded at the municipality, city employees take between 3-5 weeks to upload the information to the Internet.
Is property leased all year round?
You can not guarantee that the property will be rented all year long, and no company can guarantee such a promise. However, to ensure maximum occupancy, we have been working in a unique way, and over the last decade I have been searching, locating and building relationships with more than 12 non-profit organizations that guarantee the tenancy of the tenant for 12 months.
Those organizations, by law can sign an annual lease. After the 12 months according to data from 2009 to 2019 and hundreds of tenants in 96.4%, the organizations and tenants renew the rental contracts for additional years.
Our oldest tenant has been in the apartment for over 21 years.
Ohad Group is a local owned boutique company, buying, selling and managing properties in the Cincinnati, Ohio area since 2009 with a personal attitude to every investor, specializing in yield-producing properties with a wide range of private homes, apartment buildings and commercial areas. Our Investment yields are amongst the highest in the United States. We specialize in finding investment properties in a timely manner, through field work and years of experience, and currently manage about 500 tenants for various investors from private homes, apartment buildings and commercial areas.Call us for a free initial consultation and we will find the right location for you!