All Forum Posts by: Demetrius LaMarr

I have a Multi that you may be interested in.  PM me and I can forward you the details.

I agree with @Account Closed.  You definitely want to tour the area in Indianapolis that you want to invest.  In my opinion if you want to invest $20k in a downpayment in RE, you should definitely invest $600 in a plane ticket.  It will be worth it.

What I can say is that units should be turned over in 1 - 1.5 weeks.  That seems to be a consistent issue.  You are paying a premium for the labor/materials, but at the same time I don't know the square footage of the units that you are rehabbing for the next tenant.

Also, you may want to look into the tenants that you are generating.  I know it is harder to find a longer term reliable tenant, so that process on your end might have to be monitored closer.  Good tenants are hard to find depending on the location of your units.  Plus with you being out of town, it's more difficult to take a hands on approach to the process.

The experience is relatively normal to landlords with multiple doors.  Most buildings/units hover above 90% for much of their ownership cycle.  There are periods that fluctuate lower based on the current economy.  Don't lose hope, a few good tenants could turn your whole investment around.

Hope this helps and good luck to you.

Welcome to BP!  I am a buy and hold investor.  DM me with details and we can talk further.

Congrats!

I'm not sure if MIBOR will allow you list properties on the MLS without an agent. They are the MLS that handles the area that you are looking to market. The sunday newspaper lists real estate transactions. You can start there, it may help you.

ARV is $190-$210.

https://drive.google.com/open?id=0B3tw3mLXIezceWFq...

Full brick house with a lot of character.  Has only had one owner.  This is available right now in the Misty Lake neighborhood.  The plumbing and electrical are in good condition.  The roof, soffit, fascia, and gutters are in good condition.

Home has as breeze way and privacy rear porch area.  There is a detached shed on the property.  The basement is unfinished, but  could be completed to add to the already large square footage.  There are two sump pits, water heater, and furnace in good condition.

This home could be converted into 4 bedrooms very easy.  There is also a study off the main entrance.  The kitchen will require some updating to reach it's full potential.  This is definitely a great home to live in or rent for $1,500-1,800 per month.

Because of the size of the home would cost about $3,000 - 11,000 to update.  FYI all appliances are staying and are still functional.

Pictures are available on request.  Email me and let me know

- 3 beds, 1 bath

- 1229 sq. ft.

- Built in 1954

- Wayne Township Schools

- Quiet, dead-end street

- Solid brick with great bones

- Attached carport

- Roof, foundation, frame and windows are all in good shape

- Mechanicals are in good condition/electricity is on

- Furnace, water heater and breaker box are in good shape

- Taxes are $1,379

- Only needs cosmetic painting

- Estimated Rehab Cost: $1k-$3k

- Estimated Monthly Rent: $900-$950

Let me know if you are interested.