For the record the A-Z of multi – property owners Lorain- “A”

August 6, 2012 at 2:41 pm 13 comments
We will now begin with the WHO IS WHO of Lorain’s multi property owners.

For the princely sum of $25.00 and a public records request to the Lorain County Auditor I received a “disc” with all the non commercial property owners in Lorain .

In coming weeks I will give my readers a listing of those who own the multi- properties. Those with 3 or 4 properties listed I skipped over – I want the people who are “determining” the conditions of Lorain’s neighborhood.

Starting with the A’s –

once I found a name listed more than three times I pulled ( where able) their mailing addresses/ home addresses then I scanned the photos of each of their properties from the Auditors website to see what their properties looked like. The first up was
Abouelhana – Magdis
Now under this name there are 9 properties and under the “one?” investment company
ASM Investments there are a further 69 properties including the one where the tax bills are mailed ( NOTE) this address is a Lorain address. In my opinion, A PLUS – at least they are living in Lorain – almostπŸ˜‰

Now interestingly enough the properties under this group etc. ( at least from the photos on the auditor’s site) aren’t in too bad of a condition. These properties seem to be on the whole in pretty good condition. Granted I didn’t look at every property. I just clicked on addresses where other homes in the neighborhood were “failing”. You too can look for yourself

NOTE: All photos are the most recent from the Lorain County Auditors site – I take no responsiblity for their accuracy today. If anyone sees they are in either worse or better condition please contact me

For instance this property 321 W 30th was sold August 24th 2010 to ASM for $8,000 from the Secretary of HUD.

And this home ( proximity to my neighborhood) 1307 W 5th Street
sold to ASM 1/26/2009 for $24,503
looks like a bank deal – Tribeca Lending Corp

Seemingly , the most money that ASM Investments paid for a property ( apart from a Block Buster property ) was approximately 28 thousand dollars –

as with this house on 2064 E 37th Street which was sold in 2004 for $83.500 and 6 years later was purchased by ASM Investments for $27,000. another bank deal “Federal Home Loan Mortgage”

The lowest price I see is $4,000 for 119 W 31st Street purchased off of Jason Davis ( you remember him)

and again

The average price paid ?
Answer: under 20 thousand ( apart from Block Buster) by ASM Investments
for the other 67 or so properties .

Abouelhana Magdi had a much higher end on the 9 properties listed to that name the lowest being $12,000 and the highest being $650,000.00

Next Up —— to be continued


Entry filed under: a Cow -elle opinion, city of lorain, hell is other people, Lorain Multi Property Owners. Tags: , , , .

August 3rd- Magic Lost – Chris Ritchey For the record the A-Z of multi – property owners Lorain- β€œA” (2)

13 Comments Add your own

  • 1. Brian  |  August 8, 2012 at 11:44 am

    I thought the house on Rosecliff looked familiar. That house was built for a doctor that worked at Community as I worked on a couple of other houses within a stones throw.

  • 2. Loraine Ritchey  |  August 8, 2012 at 9:57 pm

    well I am without a computer for a couple more days AGAIN>>>>>
    think it is a conspiracy to shut me up πŸ™‚

  • 3. Brian  |  August 8, 2012 at 11:42 pm

    I’ll try to help you out. This morning I woke to a stench of burnt wood. It was later reported the cause of the stench was a CITY OWNED PROPERTY that had burned.

    Mind you, this isn’t the first time a city owned property has burned. A homeless man died in a city owned property on the corner of Lexinton and 25th Street, around the time when Jose Gonzalez was shot and killed at his grocery.

    Mind you, the housing inspectors have been sweeping the neighborhoods preety hard lately, but why did the city, or possibly more specifically, why did Howard Goldberg who works for the city purchase properties without any plan or idea what he was going to do with them?

    Great job Howard!!!! I saw Donny Buchs out there today knocking some parts of the building down, maybe the whole thing came down, but someone could have DIED. Wait, let me rephrase that. Someone could have DIED AGAIN!

    Whats that saying when you make the same mistake over and over??????

  • 4. Brian  |  August 9, 2012 at 1:34 am

    The point of my comment revolves around this sentence that was related in the news article. “Police at the scene said there was furnishings and other evidence of people passing through the building.”

    Mind you, community development is in charge of the housing sweeps and here is yet ANOTHER home that they own that has been torched. Makes me sleep well at night knowing that the housing cops are no better or worse than the folks they are citing.

  • 5. Brian  |  August 9, 2012 at 11:56 am

    I guess the gripe that I have also revolves around the fact that when the city cites a property owner, the CHARGES are CRIMINAL, not civil in nature.

    I will admit that while there is some improvements that some property owners make to improve their properties when they are cited, CRONIC ABUSERS, and the city is one of them with their own properties, skate on by.

    The message that this sends to residents that want their neighborhoods to get better and are willing to participate is “FUCK YOU!”.

    The harsh reality is that the city wants the residents to do what they say, but not as they do themselves.

  • 6. Loraine Ritchey  |  August 9, 2012 at 7:29 pm

    Sorry Brian just got to a computer …..your comment went to moderation because there was more than one link so I just got the chance to approve it apologies……

  • 7. Brian  |  August 10, 2012 at 11:41 am

    I must have gone off on a tangent. I reread what you posted and I have lost your point? Is it the price that the houses are being sold for, the condition that they are currently in, or is it that some businesses are in the business of providing housing?

  • 8. Brian  |  August 10, 2012 at 11:46 am

    I do believe that me and you are seeing some of the same things and I completely agree with you on some points. I think that we are putting differant values on what needs to be done to make the pedulum of what our city can do to swing forward.

  • 9. Loraine Ritchey  |  August 10, 2012 at 7:30 pm

    There isn’t a point or a conclusion as yet I am just putting together the documentation of the who what and where and how much at the end of it then maybe there will be a point πŸ™‚
    Computer is back ( for now anyway) πŸ™‚

  • 11. Darla Cuevas  |  August 12, 2012 at 11:00 pm

    Wow, Looking at some of these rental. before and after, OMG. House goes from nice to trash. I cant belive that the landlords would let them get that way.
    I would hate if my house ended up like that. They would be out!

  • 12. Darla Cuevas  |  August 12, 2012 at 11:02 pm

    I only checked out a few of the houses of the guy that bought my old one. yea he owns 31. Thanks for the link.

  • 13. Loraine Ritchey  |  August 12, 2012 at 11:52 pm

    Well a lot of these landlords (not all we have some decent ones) use these homes for the most they can get out of them with the least they can put into them – they don’t care about the type of tenants – I was told with some of the federal supported programs they get paid to “repair” damage done by the tenants but they do minor and cosmetic repairs and pocket the rest ……. then once they get what they can they sell on until like the house next door to me until it is unfit for anyone to live in and walk away. and since Kent Sutton and Co are the ones who are determing the conditions of the neighborhods I would just like to see WHO is setting the bar……. πŸ˜‰

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