All Forum Posts by: Brad Semenoff

Good point @Denise G.. Thanks!

Thanks @Lee Bell. I’ll inquire if the city and county how they would prefer I handle it. 

I’ve been self managing my own rental property for about 5 years now and I’ve learned a lot in that time. My parents have decided to start renting out their soon to be old house and they’ve asked me to manage it for them. I’ve offered to do it for free, but they want to pay me for it. 

Do I need to be a licensed property manager in California to manage someone else’s property? 

Thanks in advance for your help!

Thanks @Mihir Bhimaraju!

Thanks @Peter Stewart ! That was extremely helpful. 

Thanks for the link @Peter Stewart. I’ve seen @Sterling White’s original blog post and have been zooming in on that map, but it’s much easier with the direct link to the Google Map!

Thanks @Joel Clausen and @Shawn York ! It’s nice to know that I’m on the right track as far as location. Do either of you have any experience in the Southern party of Indy? Specifically the Southport and Franklin Township areas? 

Thanks for your help! There seem to be a lot of houses for sale on the lower end of that range within a 4 block intersection of 38th and North German Church Road. There’s two houses listed off of Medallion drive near W 66th. I just don’t know if these are desirable areas for renters.

Hi there BP!

I'm hoping that you all can give me some insight on whether my current plan of attack is a good one. I'm getting my feet wet with my first long distance investment and hoping to buy my first property in the Indy market. I'm looking for a long term, relatively stable SFH that I might someday be able to manage myself remotely. I'd ideally get about $150 per month cash flow at this time using a property manager.

I think my best bet is to invest in a solid B class neighborhood with a house in the $110-$135k range. Looking at Sterling White's helpful post, it looks like my best bets are South, Northwest and Northeast of the 465 freeway and north of 38th street are all solid B areas. It looks like rents, at least according to the Zillow rent estimates I've seen, fall within the 0.8 - 1% RV ratio.

I know that is a large area, but are there any areas that people would recommend for a newbie like me to pursue? Equally important, any areas within there to stay away from due to lack of renter demand?

I'd also love to have recommendations for Realtors that have experience with remote investors in those areas.

Thanks!

Thanks, Frank! I called Chase and they said that they also charge a quarter of 1% of the principal along with the monthly interest payment. Unless I’m mistaken, it doesn’t look like they have an interest only option.