All Forum Posts by: Josh C.

@Bret Winegar

Little flower is nice, but definitely some rough area right by Sherman. East of there is better. But if the numbers work, and you can take the occasional big turnover it can be solid.

Good luck

@Joe Villeneuve

If you check out an amortization table the vast majority of money goes to interest in a 30 year over 90% but only 60% or 70% of a 15 year does. And gets to 50% quickly. Also when selling a property after 5 years you notice a huge difference in equity built. Check the tables if you don’t believe me.

I get what you are saying and pure numbers you are right if you invested that extra $200 or whatever in another property. But the idea that in my 40’s I’ll be debt free with big big bucks rolling in is better than that extra fancy dinner per month per property.

Person decision.

@Nasir Mansoor

Do you live in Indy? If so I can help. If you are out of state probably not. Not sure why banks hate OOS but they do.

@Charlie Moore

That’s why there are leases. So people can’t just take money because the “feel they should” what if their AC broke for a day and they “feel they didn’t need to pay rent because of that?”

Had you evicted them you’d probably be entitled, but you didn’t, So your not.

I suggest a property manager and/or attorney. In Indiana holding security deposits wrongfully can get expensive fast.

Join the military. Get a VA loan.

Offer double asking price and ask for seller carry back.

Both of these are 100% going to work. 👍

@Brandon P.

Several good companies here in Indy. Some much more competitive than that. Especially on more expensive properties. I’m a local PM. Please let me know if I can help.

Indy is a great market. Good luck.

@Charlie Moore

How do they know I made a profit?

You tell them. It’s called paying your taxes. Also called shooting straight.

Now if you don’t want to pay your taxes. Just don’t. It’s a crime. No boss taking out estimated W2 taxes in grown up land. Up to you to be a good legal citizen or a criminal.

I can’t tell if you are a troll or not but someone on here does need to know that answer. And my advise to that person is actually make a profit/or loss. Then hire a CPA and they can help you figure it out. Because reading this read is most likely killing brain cells. But of course you pay taxes on profit and no buying a new house doesn’t offset that profit.

Not sure about your area, but here you can’t “put” the utilities in someone else’s name. Only your own or your company. So you can’t force a tenant to take utilities. Also, you really don’t want to cut of water or gas in my area as they are tough to get back on. Plus tenants back out of lease signing all the time so you may cut them off hoping someone is going to sign

And then they back out and the house has no heat or Ac making the showings tough. Can’t ever turn off gas in the winter. Shouldn’t happen often but is one of those things. Just like a tenant who’s never been evicted before not paying one month of rent. I don’t understand but it does happen. $200 is too bad and hopefully the turnover is just a cleaning.

@Justin G.

That's a tough range. There just isn't tons of those properties in Indianapolis. We weren't built high density. Land is too cheap here. I feel like there have been three good small multi-family deals on the MLS in the last three years. One was listed here in BP.

@Justin G. As with all service businesses there are several good ones and several bad ones. With Oceanpointe being the worse. We’ve been doing a while. Please reach out if we can help.

Indianapolis is a great market. I’d recommend avoiding the D class market here unless you can scale to mix several losers in with some winners.

Good luck!