This came across my feed today….thought it may be of interest as we flesh out the whole details of it….Beware in Ohio apparently!
Posted by:
Vena Jones-Cox to Ohio Real Estate Investors Association (OREIA)
4 hrs ·
Did Ohio REALLY just pass a law that says that properties can’t be boarded with plywood anymore, but have to have clear plastic at $115/sheet put over doors and windows? Yes…and no. That requirement is ONLY for lenders who foreclose under a new expedited process for abandoned properties. Ironically, I’m guessing that the increased costs of the board up–it will literally cost 10x as much for the plastic as it does for plywood–will keep lenders from using the foreshortened process, as any savings from getting the property quicker might actually get eaten up in a $4,000 board up procedure.
<p style=”margin: 0in 0in 8pt;”>I recently bought a boarded up 3/1 in Cleveland. I guess I better unboard it and clear board it. And of course rehab it. I’m trying to find out if there are specs on this polycarbonate clear board. Where to get it at wholesale. If I were an FHA lender I could get reimbursed I read. Darn.</p>
