All Forum Posts by: Geoff Cavender

If a tenant goes to jail can you remove their possessions and move in a new tenant with evictions being halted...???

I bought a 5 unit apartment building.  Previous owner said he had 2 evictions filed on Units A and B.  He said he will continue to finish the eviction process even while I owned it on those two tenants.  Tenant in Unit B got arrested and has been in jail for a few weeks with a court date for their criminal act in September.  The previous landlord decided to move out the tenants possessions into a storage unit, even though the actual eviction hasn’t taken place.  I moved a new tenant into the unit now but I am nervous that there could be some legal ramifications.  Does anyone know how this should be handled and what my liability is.  

I also called the lawyer he is doing the evictions with and she said the eviction court dates are set for August 7. 

Building is in Indiana 
any advice would be helpful

It all started with a facebook message offering to take a local investor to lunch to ask some questions

Warsaw is the Orthopedic capital of the world so there are a lot of great jobs in this area making this community grow at tremendous rates!  They just built 3 new hotels and multiple brand new apartments.  This one is all rented out, but it is a higher turn over unit so my goal is to do some repairs and really try hard to screen for good tenants and change that

Investment Info:

Large multi-family (5+ units) buy & hold investment in Warsaw.

Purchase price: $139,900
Cash invested: $34,975

5 Unit Apartment D-C Class paid for by leveraging a single family rental! Excited to get this underway and really start my investing career!

What made you interested in investing in this type of deal?

First step at multi family investing

How did you find this deal and how did you negotiate it?

Met a local real estate investor, became friends, bought this off of him

How did you finance this deal?

Leveraged my single family rental for the down payment

How did you add value to the deal?

Got value in the deal - Also didnt have to use a Realtor because I am one

What was the outcome?

Me getting a 5 Unit

Lessons learned? Challenges?

Networking is everything!

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Geoff Cavender I would highly recommend him to anyone in the Warsaw area

Investment Info:

Single-family residence buy & hold investment in Warsaw.

Purchase price: $90,000
Cash invested: $26,000

This is a Single Family home that I bought at the age of 19, for $90,000 with $0 down. I lived in this home for 6 years until I bought a bigger home to fit my growing family in 2019. I turned this into a rental property and just recently leveraged the equity in it for a down payment on a 5 Unit apartment! Even after leveraging this property still cash flows $300 a month!

What made you interested in investing in this type of deal?

I was 19 years old with a 2 year old son living with my mom. My parents had helped me build up credit since I was 16 years old and then I got a full time job that was good enough to get financed for a USDA loan on this home.

How did you find this deal and how did you negotiate it?

Used my aunt who was and is a realtor

How did you finance this deal?

USDA 0 down

How did you add value to the deal?

No value added at time of negotiation but I did do some renovations and added a chain link fence

What was the outcome?

Still hold this property as a rental property, and just leveraged the equity in it to use as a down payment for a 5 Unit Apartment Building

Lessons learned? Challenges?

Single family homes in a community with great jobs are GOLD

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I am now a real estate agent so I recommend myself!!!

I would be interested in a meet up as well!  I am a local investor from Warsaw area but looking to expand!  If a meeting gets arranged please message me.

Thank you guys for all the input I will certainly read the articles you guys have recommended and keep you updated along the way. I know that for sure one snag we have hit is that he doesnt have financing available like I do with the HELCOC. His idea is creating the LLC and then doing a business loan, however he does bring the knowledge and the ability to flip the properties. I bring the real estate license and am willing to help with the work as well. I am just not sure on partnering with someone who doesnt have financing available.

Hello, I am about to form an LLC with my friend who has his own contractors business, and I am a real estate agent. Our goal is to start flipping houses now build some cash and then buy and hold duplexs. I am looking for advice on forming this partnership, pros and cons, and then also he is wanting to go the route of taking a business loan out, and I have the ability to pull a HELOC loan for 20 to 30k. Any advice on how I should go about starting this partnership and maybe some advice on what kind of contracts we should have between each other when forming this.

Thank you,

Geoff Cavneder

Hello everyone,  I am currently doing a ton of research reading blogs, books, and listening to podcasts on real estate investments. I would really like to join, or form a team.  I do have my real estate license,  and I am out of RE/MAX Partners in Syracuse.  I am stuck between flipping single family residential, or multifamily units to rent out.  I live in northern Indiana, and I am wanting to be involved locally.  Any advice on deciding between the two of these would be greatly appreciated.  I currently do not have much cash saved, in the past I was heavy into investing into stocks so I have 401k, HSA, and a brokerage account.  I am not wanting to do what I need to do to prepare myself for real estate investing.  I have about $30,000 in equity on my house.  Thank you all for your advice.