All Forum Posts by: Anthony G

I just checked and there's an identical building that I was thinking about on Dequincy, but not this one. The area where your building is located is pretty rough so those rents would have to be section 8 to get $750. So the price would mostly be a result of the high crime.

Can I ask if that property is off of New York St. on the East side? If so, I think I remember seeing it listed a few years ago.

Do you currently commute to St. Louis for your job or just for personal reasons?

This is interesting.  Any time I have a vacant property in Indy, the water company assumes the water meter is broken and tries to replace it (at their cost).  I find myself calling them and explaining the situation to avoid the inconvenience.  Customers don't usually pay to replace utility equipment around here.

@Atwan Kwan In my opinion the first step would be to visit the unit and determine for yourself whether there is a problem or not.  The contractor may have had allergies and just not wanted to do the job.  This kind of thing is very subjective.

@Ashley S.  Something else to consider is if you pay off the mortgage for them and they gift you the house, are you responsible for paying capital gains taxes when the property is sold?

I did a 203K on a duplex, it can be done.  I'm not sure if the separate buildings plays a role or not.

@Kent Chu 30 liens is a lot to deal with, what's the ARV for this house? I would think in most states the foreclosure would wipe all of the other liens out and require the bank to pay taxes, but I'm not sure.

@Ian Broadie  I feel like we really need some pictures of this place.  I from St. Louis where all of the older house have flat roofs, so a flat roof isn't seen as a negative to me.

@David Sray  How old is the house and what type of construction, frame, brick, etc?