All Forum Posts by: Josh C.

@Ronald Grams

Can you go into more details? What does “S hit the fan at the closing table” mean? Did you change the sale price at closing?

What does “back the lawyers we went” mean? Did you sue them? Was the HVAC defective?

@Steven Tirsway

Fountain square has about tripled in the last 5 years. Hard to see that continuing. Nice duplexes don’t make sense there typically unless you plan to live there or just want a safe place to park money.

Lots of other neighborhoods where cash flow is there and values haven’t skyrocketed as much.

@Roni Karpman

Mars Hill can be spotty. Bean creek has seen some up tick as of late, but still very working class and if those were the two places I had to pick I’d go with. I’d recommend a solid realtor or wholesaler. I would not recommend you make decisions based on what’s in your budget. Super cheap houses have the most expensive problems typically. 90k is enough to get a solid place though. A nice little 2 bed for 90k that rents for 800-1000 is a great first rental.

Good luck and let me know if we can help.

@Aaron Singer

We primarily work with out of state of investors, and would be happy to help. Harvey mentioned above runs a nice shop as well.

But watch out for the “franchise” outfits also referenced above. They don’t have an typical office and charge all kinds of fees to the tenants they don’t talk about. I get their marketing all the time and they said they had a 0% eviction rate. Not possible unless they manage only 10 rentals despite their marketing also saying they “manage 10s of thousands on units locally.” Yes 10k rentals locally. Lol. Odd since I’d never had a tenant come over that lived in their of their units until very recently and their “office” is a small office in a downtown tower where tenant could never even go to conveniently. 🤔

@Jesse Dix

Indianapolis is a great market. You can do well with small multi units. Just avoid the rough areas with super cheap prices. Let me know if I can help.

@James Hamling

Some counties don’t require it. I’m serious. Want to build a 10,000 soft addition in your house? No problem. Just tell the county what you spent. No permits needed.

@Lenza McElrath

I’m sure he good have been nicer. Although I think he successful in spite of his tact and not because it. But he did give one piece of really solid advice.

That is everything the seller tells you is wrong. Period. You should not care about historical numbers or trailing 12 months or last years financials. Most people when they sell are either doing no maintenance so the expenses will be low or lots of rehab so the number look like trash. Additionally, most small multis are run by small investors and they have tenants in there that have been there a long time and never raised the rents. So the income number is likely low and the maintenance numbers likely zero. And both are wrong. Do your own numbers and you’ll protect yourself.

@Mike D'Arrigo

Agreed. I feel the super bowl really kicked it off major developments and sparked people really wanting to be be downtown.

I think charging them for rust spots on a floor made to hold cars and lawnmowers is excessive. Everything inside for sure, but garages are made throw your rusty crap on. I highly doubt some rust spots on a garage floor hurts value or rentability of the place.

What was totally job cost, like $70? Anyone would bills 45 mins and less than 1 hour of time is a nice/honest and probably poorly paid guy. That likely didn’t include drive time and you got that for free. Pay the man.