All Forum Posts by: Grant Anderson

Do you offer SimpliSafe to your tenants when they move in? If so what do you charge extra per month if they choose to keep it? I am assuming they would be responsible for the monthly monitoring charge.

i second Elizabeth Maora. Her website is elizabethmaora.com

Do you live in Indianapolis? If not I would advise against managing the property yourself from afar unless you have a team to handle issues already in place. It would be best to have a property management company manage it or buy a property in your area to manage.

HI Chavis - To help get your spouse on board with real estate investing have her read Rich Dad Poor Dad. Either that or bring her to our Cashflow game meet up. If you haven't played cashflow before it is a great game to learn about finances. 

Hi everyone,

I just got a brrrr property under contract. I have never bought a property on a well and septic before. Does anyone know what issues I should be aware of in buying a rental with a well and septic? Before I buy the property I will get them both inspected, what type of inspection should I get? Does a home inspection cover these items?

Thank you!

Hello everyone, I am starting to search for an apartment complex in Indianapolis. Does anyone have a recommendation of an apartment broker in Indianapolis? Thanks

Yes, https://www.meetup.com/Indianapolis-Cashflow-Meetup/events/248766778/ 

Originally posted by @Jon Holdman:

By cash I think you mean piles of bills.  You cannot easily accept a briefcase full of cash.   You will have even more difficulty returning his investment and returns in cash.  Depositing $50K in cash, which WILL have to happen at some point in this transaction will require the bank to do a "suspicious transaction report".  They are guarding against money laundering.   You, he, or the both of you will be required to explain the source of the cash.  Shouldn't be a problem as long as the money can be explained.  OTOH, if there is not a good explanation, then its possible you might really be involved in money laundering.  You certainly don't want that.

 Thanks Jon, they got the money legally so I am not worried about how he got the money. I would require him to complete a Form 8300 and I would complete one when I deposit the cash into my account at the bank.

Originally posted by @Henri Meli:

@Grant Anderson . Cash is always good. I hope he/she understands that as an investor, he/she can lose the money. If you, you should take some time to explain to him/her the risks of investing. 

Does this person want to be a passive investor? a Partner ?  Do you have a "prior relationship" with the person? Depending on how you want to answer these questions, you will need to draft a framework around it to protect each other, in case something goes wrong. Always hope for the best, but plan for the worse. That's the way I would approach it.

 I have know them since the day I was born and they understand the risk. But my question is the cash part. His money is not in a bank it's actual cash.

Hi Everyone,

A family member wants to invest money with me on a flip property. The only thing is he has only cash to invest, he does not trust banks. Is there anything I have to worry about if accepting cash? It will be around $50,000.