All Forum Posts by: Josh C.

Title company would never catch these things in my area. Water bill? Title company is for title things. Go after sellers agent? Are you kidding?

Good lesson for next time. Make a checklist of things to check. Open board of health or code enforcement cases are a good one to add to that list too.

@Mathew Hilton

I own 1815 new st. Very close to your place. You can google and find pricing and pics. You are right about values being all over the place. 200-450.

I have a couple of rentals in bates. But I bought them years ago for pretty low compared to today prices. They are good rentals, but today finding a cash flowing rental sfh would be tough.

Good luck

@Ethan Anderson

I agree it’s a nice start and I don’t have a map to provide. But there are 600k new builds happening in some of those C/D neighborhoods. That’s all. It’s a good start for sure for some of the out of towners. 👍

Tenants probably care less, but buyers do. Even if not practical as mentioned above. Mama still going to want it. Period.

Long term tenants are gold. No head aches and no problems. Once every five years is plenty.

I don’t love that map. Several either neighborhoods pretty dated or just wrong. Not sure where that comes from. But rural and 10th is changing fast with several new builds in the area. Just East of there a ton of flips are going on. So around 10th is niceish. South is ok. The further North you go the worst til you hit about 46th st or so. Good luck. Indianapolis can be great.

@Jaron Walling

Tools are good to expense. (Not a bob cat, but drills and saws). Other things like carpet and water heater have their own schedule, 5 or 8 years or something. I think for simplicity if you do a big rehab you can just add everything to the basis and depreciate it over 27 years. Since it’s technically not “in service” and I don’t think sticking a for rent is something I’d want to have to defend to the IRS. That’s what I do instead of breaking it all out. Not a CPA. I see you are local and I’ll be happy to recommend my CPA if you’d like. Definitely get a software that links you checking account. Like quick books or xero. Makes your life so much easier.

Lights and cameras work great.

The wire would help as mentioned above but then they probably just climb it.

Good luck

Had a tenant burn a house down and then call me and I say I burned your house. Lol. Police did nothing. ☹️

Had a tenant smear their kid’s poop diapers over the walls. And I when I say walls I mean every single walls floor to ceiling. Must have been saving diapers for weeks. Or feed their kid White Castle 24/7.

But the worse are something you don’t think about. And that’s bed bugs. We’ve battled several cases over the years, but I can top them all. I had a great tenant for four years who was a WW2 vet. Which meant he never complained. Not one maintenance call in four years. But when he moved out we had a colony of bed bugs that had never been seen before. 12 chemical treatments and 6 heat treatments (I even stopped by the last one and gave the techs $100 bill to crank it to the max) and six months of no rent. Worse case the three separate companies I used had ever seen. The owner of one company who refunded my money said they had at least 100 million bed bug in there. That guy and his dogs must have lost a pint of blood a day. He never called once and even on inspections he never mentioned it. The cleaning crew said they filled a trash can of dead bed bugs. Full hasmat suites and triple pay for everyone. That was the most expensive turnover I’ve ever had. It was a personal rental.

@Anthony Wick

The police aren’t going to help her move with people and a trailer. That’s my main point. Some people don’t have a network or means to pay someone to move. I wasn’t a hero paying people to help move someone and offering my office as a safe place to file a police report. Only doing what I’d like others to do for my sister or mother. I have the means and ability to help someone and chose to, and would do it again. Some people don’t have the people or money. I get that. It cost me practically nothing. Two hours of time and less than I’d spend on a new toy I don’t need. And these aren’t business decisions as something like this happens about once every two years.

Anyway I can’t argue this point any longer, we just have a fundamental difference in what should be done, on to another post to tell someone they can’t get a 15 cap in an A/B area in Indianapolis.