All Forum Posts by: Erick Caffarello

Good Morning BP:

Sometimes real estate transactions happen quickly and easily, sometimes they drag on for months.  I'm looking for agents in the Northwest Indiana area, knowledgeable specifically in Gary, Lake Station areas as well as LaPorte and Michigan City.  These agents need to have a solid grasp on the market, Section 8, lender, contractor connections, and have confident knowledge as to what I can rent the properties for, what improvements to make, etc.  As I am just getting started, someone with patience as well will go a long way.  I'm in this for the long haul. 

I contacted the listing agent for a freshly remodeled, 1700 square foot house in Miller Beach, about 4 blocks away from Lake Michigan, and the listing agent told me I could only get $650/month.  That amount resonates with other areas in Gary.  That is what I'm talking about.  No knowledge about the market.  According to Rentometer, average rent for the area is about $1000-1300/month.  However, since it is a Quit Claim, I'm no longer pursuing it.

Would definitely appreciate any referrals.

Thank you so much!

Erick

Good Morning BP!!!

I'm about to buy my first duplex (have one other rental), and when I walked in, I noticed a sewage smell coming from the laundry room, behind the bathroom.  What complicates the issue, is that the property is on a concrete slab.  At first, the seller was not going to make any repairs, selling the duplex "as is".  In Gary, IN, a duplex for $45k is pretty much top dollar.  He finally agreed to make repairs to the roof, sewer, and furnace.  These issues will all have to be noted in the sales contract.

A question: if the sewer issue surfaces again, do I have any legal recourse after I close on the property?

Thanks,

Erick

Greetings,

Looking for investor friendly realtors in Houston area.  Please contact me.  Thanks!

Erick

Thank you guys so much!  I will look into this.  I appreciate the feedback!

Erick

Guys,

I'm looking for a property manager to rent/manage my properties in Portage, Indiana (Porter County.)  I may be moving to Texas for a new job.  I had someone in mind, but she's not returning calls, which I question whether or not she's up to the task if there's an emergency at 3am...  Any suggestions?

Also, what is the going rate to source/screen a tenant?  I have been quoted 50-70% of first month's rent, then 10% ongoing.  Is that customary?

Usually I manage the houses myself, but being that I'm going to be 1000 miles away, its not quite practical.

Thanks,

Erick

Nick,

Not at the present time.

Thanks,

Erick 

Greetings BP!

I'm an investor in NW Indiana, looking to make a career change.  I'm seeking opportunities as either a Leasing Consultant or Property Manager in NW Indiana.  If you're interested, please contact me. 

Thanks!

Erick

Sam, $2,000 is definitely a steal!  I ran into a similar situation in a house I just purchased.  Instead, I decided to use a 1-piece surround/shower, as I've learned they are less susceptible to leaks.  I don't know if you'll see this in time, but if grout is not done properly, it will leak...over time.  I just don't trust grout/tile showers in rentals.  Just my $.02.  Good luck.

Awesome!  Thanks Ciro!  Left him a voicemail...

Guys, thank you so much!!!  I'm totally digging BiggerPockets!!!!