Rehab of North Side Houses

[Leah]

Great idea, Allan.  I have a blog, but it's not Youngstown specific. It's http://ohiomortgages.blogspot.com.  I could work something up that is geared specifically to Youngstown or Mahoning County.

Also, I am to begin volunteering at Beatitude House to help educate people about personal finance, credit issues and buying a home.  I'm really looking forward to that.  Beatitude House has some great programs.

[AllanY2525]

Leah,


Why not build yourself a web site?  There are plenty of free web hosting services out
there (the one I use for my site is www.orgfree.com) who will give you a place for
your web site for free, in return for inserting some ads into your web pages.

You could then register your web page with the major Internet search engines,
like google, etc so that more folks could find you on the 'Net.

[Leah]

Right now I'm relying on word of mouth and establishing a good rapport with my current customers.

If I can help people after they've been turned down and/or treated badly by other lenders, they appreciate it and generally recommend me to their friends or family. 

I'm in the process of trying to establish a blog and a larger internet presence to encourage people to ask me questions about home ownership/ qualifying for a mortgage, etc.

Also, once I have a little more free time (whenever that may be!  LOL), I plan on becoming more involved in community groups where I could possibly reach more people.  But, for the time being I've got 2 kids, full-time job, house, husband, dogs, etc to tend to.  I wish there were more hours in the day.

I did post an announcement on this board about what I do, but it was probably considered spam by most and was disregarded.  Didn't want to post the announcement over and over again for fear of annoying everyone.  I do actually visit this forum because I enjoy it, not just to promote myself.

But, thanks for the idea.  I'm definitely keeping my eyes and ears open for ways I can help.

[AllanY2525]

Leah,

If you want to volunteer to help people become home owners, etc try looking up the
various neighborhood groups - maybe you can get some kind of a grass roots effort
started?

[Leah]

You are definitely right about the risks. You are also right that the city should put them up for sheriff's sale.  But maybe there are things we don't know.  There are definitely interested out of town investors.  I've come across several through my work.  But, I'm not sure that's really what's best for the city. 

Maybe our focus should be on getting more people who intend to live in some of these properties to buy them.  I understand that isn't realistic with some of the multi-family units.

I would love to help educate people about what they need to do to improve their credit, become eligible for a mortgage and how to become responsible homeowners.  Unfortunately, I'm not a HUD-certified housing counselor, so I don't think I can legally hold a workshop, like I had wanted to.  But, I'm still looking for ways that I can use the skills I have to help.

[AllanY2525]

Leah,

The problems with the empty homes and buildings are the same on the North Side as 
all over town.  The city has shrunk to less than 50% of the population it used to have, and
needs half the housing stock it used to need.

Many of these empty properties have more than just taxes and water liens against
them.  A lot of them have defaulted  mortgages and other liens that would have to be
cleared in order for a new owner to purchase them.  Check out the message thread I
started on "The right of eminent domain" in this section of the boards....it speaks to
the issues involved in getting "clear title" to vacant homes, etc..

I just don't understand why the city is apparently dragging its feet on putting many of
these properties up for Sheriff's sale - as this can purge many types of liens (maybe not ALL)
from a lot of these homes and buildings.

Your assumption about the risks is also correct - many real estate investors won't purchase
homes in some areas of the city because the neighborhood around them is simply "too far
gone".  The average rent in Youngstown is around $400.00 a month for a single family home.
No landlord can make enough money at this rent to even pay for the maintenance and upkeep
on a single family home.  For example, having to replace the roof on a single family home would
burn up a landlord's rent money for the majority of a year at a rate of only $400/month for rent.
It would cost the landlord a full month's rent (maybe a little more) to replace even ONE major
appliance (ie: washer, dryer, refrigerator, stove, water heater, etc).

[Leah]

I never even thought of the title issues involved with a lot of these properties.  I always assumed these buildings were sitting empty because no one was willing to take the risk of buying one.

Can't the city do something to take care of the tax liens, etc.?  If they are dedicated to preventing/removing "blight", wouldn't it be more profitable for them to forgive the back taxes, water bills and allow the properties to be taken over by more responsible owners ASAP?  This seems a better solution than letting them sit there empty and deteriorating because (insert name of favorite slumlord here) owes them money that they are probably never going to get.

[YtownLogRunner]

I hate to be the one to break the news but the NSCC is dead....I believe there is only a floating board of trustees and that is it.  They are $150,000 in debt, lost all their properties, and in the doghouse with the city.  I live in the upstairs of their headquaters and there hasn't been a soul to be found for over a year.  I have been trying to take care of the building the best I can in their absence but I can assure you they are gone.

[AllanY2525]

I really hope this isn't the case with the North Side Coalition.  I've had telephone
converstations with (the co-chairman) and even met with him at the apartment
buildings at Park Ave and Michigan Ave shortly after he bought both of these
sister buildings to fix them up.  

He strikes me as someone who is,  indeed, sincere in his desire to get the North
Side back together.  He is putting his own money into the apartment buildings to
reopen them.

The coalition purchased a number of homes around the Wick Park area that were
the properties of the infamous Mallen - who at one time owned over 40 properties
on the near North Side.  I hear he ran the properties into the ground, mortgaged
them to the hilt, got behind on taxes and water bills and then skipped Youngstown
for Boulder, CO.  Some have estimated the amount of liens across all of this person's
former holdings on the North Side at around $500 K.

The Coalition is trying to work through a huge stack of liens, etc to get free and
clear title to many of these properties so that they can be sold to new owners,
without any liens or encumberances.  I have been told by a source close to
the coalition that they have hired an attorney who specializes in real estate
law to help expedite the clearing of water liens, bad loans, etc from the deeds
to these properties.

The apartment building that I purchased last June as a result of the "Buy Into
Youngstown" event that I attended at Choffin Career Center was a former
Mallen property, and Mark Thompson was instrumental in making it possible
for me to buy the apartments - free and clear of any encumberances, etc.

Although I am not a member of the Coalition, I believe in what they are trying
to do and I think that if more folks on the North Side are willing to join the
Coalition and give of themselves in whatever way they can (be it time, money,
volunteer work, bake sales, whatever...) they will succeed, in time.  The key
to making it all happen is people who care enough to get involved and contribute
to their community.

[Jocko]

That organization is dead. Not much they can do. They have been sinking under the surface for the past three years.

[jay]

The North Side Coalition has a program to purchase and rehab homes.  What are their sources of funds for this rehab project and how much do they have invested?

If only 1000 concerned citizens could be found and each citizen contributed as little as $100 per year,  the North Side Coalition would be able to expand their rehab activities.