All Forum Posts by: Adrien C.

I was the one who offered $20k (over the phone subject to inspection) and he never returned my calls. That area was the epicenter of the lead/arsenic contamination back in 2017/2018. The comps in 1/4 to 1/2 mile (stay south of 150th and west of Kennedy) suck. I have 3 rentals in that area that are great houses that I purchased for $10-15k each. At the time, your offer of $25k was fair. If I had OOS buyers that purchased based on numbers and not any other factors, I would’ve done the same. He got what he wanted which was the $25k. 

@Tim Sipowicz @Sharad M. it was fun going back and reading this post. Everyone cried about hammond but they are one of the easiest cities to do rehabs in now. As long as you have a licensed GC, pull permits, and don’t add bedrooms to illegal basements, you’re ok. So many other cities like hobart, crown point, postage, and Griffith, are harder to get rehabs done. Hammond is still a solid rental market and I own over 20 rentals just in Hammond. 

@Tim Sipowicz I’ve purchased over 350 Properties in NWI and hAve had up to 40 rentals at my peak. I’d be happy to help. 

I use Vilgar Property Management for all my Gary houses. Hands down the best. 

Hi @Nik Doukas I like lunch:) I’ve been investing in nwi since 2015 and have done a few houses (just passed the 350 mark). I’d be happy to grab lunch once restaurants open up again. 

Hi @Nick Mast I’m also in NW Indiana. I’ve done a few flips over the years. I’d be happy to help or chat. 

Hopefully not- they suck. Just do some searching on here and you’ll see plenty of discussions about their issues. 

I've had great inherited tenants and some really bad ones. The biggest thing is to set proper expectations up front. In the introduction letter which I send the day of closing, I introduce myself and company. I let them know what they can expect of me and vice versa. It sets the stage from day 1 and then I follow through on those expectations. If the tenants aren't the best, you'll hear "but it wasn't like that with the old landlord or they allowed me to do this or that." Estoppel letters are a must of the appliances you thought you purchased with the building will grow legs and walk away. One fear existing tenants have is being kicked out or rents raised. I tell them from day 1 I have no desire to kick them out if they agree to the expectations of being one of my tenants. Typically they are below market rent but the quality of their unit/home reflects that. So I ask them if there's anything they'd like fixed. Most of the time, they just want a fresh coat of paint. So i'll paint it and replace a light or two- just a bunch of little stuff. Then bump the rent $30-50 or whatever makes sense. Hope this is helpful.

Have to predict too what will happen to taxes once the homestead falls off. In hammond, it’s right at 3.5% of assessed value. 

Lol- they all are jumping on the unemployment train and collecting their checks. I’m in that area and can assist.