All Forum Posts by: Josh C.

@Nick Talvy

Hard to say exactly but a 30-40% discount is huge. Surely you’d be able to sell to someone willing to make that sacrifice to live there for cheap. But DOM is a good sign as mentioned. 180 days means not a smoking deal almost 100% of the time.

@Robert S.

I didn’t read your second paragraph yet and about jumped down your throat because wires and breakers must match. But you got there. Slow play.

I might add high high likelihood that a fuse panel house is also a knob and tube house. Everyone I’ve seen was. So depending on size and other factors you can budget another 5-25k for a rewire and Drywall repair. Unless you plan on gutting the house. Then it’s closer to a 3-10k job since easier with just the studs.

@Jonny Reck

Is the work done now? It sort of sounds like you are trying to back out. Maybe I’m just reading it wrong, but either it’s done or not. Hire a photographer off craigslist to go take video or pictures for you. Or ask your agent. Or something. If they didn’t do the work that’s different then they were a little late on doing it and didn’t send you pictures. No deal should be that skinny. That shouldn’t kill the deal.

@Anthony Broadus

You just have to have a pro membership to post things for sale. It's called the marketplace. I've bought off there, but no takers for the one I was trying to to sell. Oh well. I flipped it myself and made a boatload. You should just do the same. Fix it up and list on the MLS.

Good luck

@Juan Carlos Castillo

It’s always cheaper direct to tenant as you save the 6% commission plus extra kickbacks and fixing the house. 10% discount is fair because that is what it saves the seller.

@J. Pablo Fernández

Commercial products loan to LLCs. Something like 5 yr fixed then 1 yr arm on a 15-25 year am. Or ballon Payments. Unlikely you'll find a fixed interested rate loan to an LLC. Also, good luck finding anyone to lending to foreigners are tough. Even at 50-60% LTV. I don't understand it.

@Andy Rumple

I agree with with you those are good rental areas, but eagledale an A? Also, west of 465 is both Wayne and Avon. I agree Avon is A, but Wayne is definitely not. I grew up there and went to chapel glen elementary school. My folks rent out the house I grew up in for $1000 and have had several evictions over the years. I think A is high end $1500 and up. Right downtown or near north side up to 25th (some rents are as high as $2500 now) or Fishers, Avon, Brownsburg type neighborhood is what I’d consider A. B rental is near Eastside, bates (depending on finishes) and the neighborhoods you mentioned.

My 2 cents anyway. Hoping to buy a deal from you but you sell them too fast. 😀

Obviously stay away from any old oceanpointe properties. That being said we are a local property managers and would be happy to help and give other references as well. Indy is a great market.

Good luck!

@Mike D'Arrigo is totally right. Unless in bad shape that’s and very rough area most likely in Indianapolis.

@PJ McLaughlin

I see your point, but as a property manager I can 100% back up what at @Joe Splitrock said. Courts will give you $0 for ten year old carpet. A client of ours here in Indianapolis was once awarded $75 for 5 year old carpet. It has a life span. That’s why it’s expensive upfront, but LVP or refinishing the hardwoods are the way to go. I personally never would put carpet in anything but a bedroom. Preferably not even then.

I’d recommend prorating the carpet based on age. As mentioned above. Also, I’d recommend returning the security deposit as soon as you have looked over everything. Nothing upsets tenants more than you holding their money for no reason. If you know in 6 days, return in 10 days. Then they are less likely to complain what you kept.

Good luck