All Forum Posts by: Jameson Drew

 And honestly, my mood toward the end of the trip did factor into it.  I had flown out of a big project, and was potentially leaving with nothing.  I was also cold and wet because I tend to buy stuff in the winter when no one else will in Indiana.

I wanted to pay under $10k per door. Factored in what I saw in the walkthrough, namely an active roof leak and plumbing issues. Kept deducting that from the sales price. The only thing I didnt take into account was the mandatory electrical upgrades that neither the Bank nor its agent were made aware of as neither tried to turn on the electricity while it was an REO. One of those live and learn moments.

Ha! Well its a small town.

 Thats awesome.  I always say to my peers that deals are found everywhere, including the local papers.  

 Complete Property Care, which is a PM/Realtor/contractor in one.

Daniel Norton is who I use and he's awesome.

 How did you manage that? Tax sale?

 I actually did this research before I bought.  Muncie is an odd duck.  In the early 2000s there was a large auto plant there that shut down.  Obviously it was pretty bad for awhile.  Lately, many more manufacturing companies have started to move into the old warehouses and spaces once occupied by auto manufacturing.  Its a much more diverse economic base than it was a few years back, though it is far from perfect.  There is also Ball State, and a large regional hospital to the northwest.  Nestle has a large manufacturing plant near Anderson.  The rest is a mix of sales and service industries like normal towns.  I have a few tenants that work at the local Walmarts and whatnot.

The local government is pretty pro-active about getting rid of the blight.  Mayor Tyler is extremely approachable and loves having face-to-face conversations with investors.  There is also a brand new training hotel going in downtown and the city has been upgrading its sewer systems the last few years.  Its also a fairly liberal area politically, though its surrounded by a predominantly red state.  Makes for interesting, but functional local politicians.

I do a bit in Delaware County.

Its the Muncie Redevelopment Commission.  I tried to post the link, but it was removed.