All Forum Posts by: Jason Richardson

This property has been sold! 

Thank you for everyone who has looked at our ads, including James Wise for chiming in with his thoughts. ;) 

No Longer Available

We have another great property here, located in decent neighborhood of the Westside of South Bend. Property needs some TLC, but all plumbing, electrical and mechanicals are intact. This property has been well maintained, externally, and needs a light rehab inside. Kitchen and bath are outdated and need updating, but it isn't necessary for this property to cashflow since they are still in decent condition and functional. Property is currently vacant.

2 Bed / 1 Bath / 725 SqFt / 5550 SqFt Lot / Detached Garage / Built 1949

Here are the numbers, as a cash-flow property:

3117 W Dunham Street, South Bend, IN 46619

Our Price - $15,000

Rehab Cost - $5,000

Total Potential Monthly Income - $550

Yearly Income (Based on 1 month vacancy) - $6,050

Yearly Taxes - $755.30

Yearly Insurance - $600

Yearly Management/Maintenance Fees - $1,210

Yearly NOI - $3,484.70

ROI/Cash On Cash - 17.4%

Professional management and rehab services are available. Serious cash buyer inquiries only please.

Email for more information.

We have a great property here, located in the Far Northwest side of South Bend. Property needs some TLC, but all plumbing, electrical and mechanicals are intact. The house directly to the right is being renovated, as well as one 2 houses to the left, on the same side of the street. Neighborhood is one of the better in the area, and is seeing a lot of renewal activity. Property is currently vacant.

3 Bed / 1 Bath / 720 SqFt / 4960 SqFt Lot / No Garage / Built 1946

Here are the numbers, as a cash-flow property:

1614 N Johnson Street, South Bend, IN 46628

Our Price - $15,000

Rehab Cost - $6,000

Total Potential Monthly Income - $650

Yearly Income (Based on 1 month vacancy) - $7,150

Yearly Taxes - $812.78

Yearly Insurance - $600

Yearly Management/Maintenance Fees - $1,430

Yearly NOI - $4,307.22

ROI/Cash On Cash - 20.5%

Professional management and rehab services are available. Serious cash buyer inquiries only please.

Email for more information.

Hello All,

Nothing wrong with properties $30K and under. These are the types of properties we mostly deal in. Like Indianapolis, IN or Springfield, MA (for example), South Bend, IN can also be block by block, but can also be in large sections as well. Many cities are the same way. And, just because they are cheap doesn't make them bad houses. You can buy a good house in a decent area in the teens, put maybe $6-10K (or less) into it depending on it's condition, and it would make a great rental that brings in between $600 - 750/mo (some with or without Sect 8). You can buy nice house in a better area between $20-30K, and still may only need minor work. Really depends on what you can find, or have others find for you. I can't see someone buying a house for $30K in Chicago, or any other higher priced market, and it not needing a ton of work. In some areas of Indiana, you can find many properties that need very little work. What areas you can get these for at that price, with little rehab needed, makes all the difference. In the hood, you can find decent homes that need little work for the first price mentioned. If you are wanting desirable areas at that price, you are probably buying junk or getting it at tax sale/foreclosure pricing. This is in regards to our area, and possibly a lot of other areas. 

I didn't look at every post in the 19 pages of replies to see if anyone had mentioned their business....

Anyone who is looking for properties under $30K, whether it is to purchase or co-wholesale, please contact us via our website's Contact page or call my cell direct (web addy and phone info below). Keep in mind, we don't post all our properties on our website or other media. We'd love to hear from you to discuss what you are looking for! Have an awesome, blessed, day! ;)

We are a real estate investment company located in Northern Indiana, specifically in South Bend. We invest in properties within this city, as well as all surrounding areas in a 20-30 mile radius. South Bend is the 4th largest city in Indiana, and growing. We have inventory we need to move!

We work with US and Foreign buyers. We deal in Single Family, Multi Family, Apartment Buildings and Complexes and other Minor or Major Commercial.

Please contact us on our website's "Contact" page to request more info* :

J & J Investments Company - Contact Page

* While we are currently investing in our local market, we are not limited to this market. Please contact us on our website's Contact page (Link Above), and include in your message the areas you are interested in receiving property leads from. We will contact you with deals from those areas as they come in.

A few major benefits of investing in this area are:

1. Properties here have a high investment return to property cost ratio.

2. This area has a high housing demand, whether it is rental or retail.

3. The city of South Bend, and Notre Dame University, are working together to make major infrastructure and other changes to this area. These changes include faster internet (fiber), new roads and sidewalks (city beautification projects), major downtown renewal investment projects (under way), urban renewal in lower class areas (under way), free wireless internet downtown, airport expansion (completed), technology park (under way), business incentive programs, etc). The nature of the City of South Bend and Notre Dame working together in some of these expansion projects is to retain the talented graduates of Notre Dame. They are providing jobs and growth for these graduating students so they will want to stay here, rather than move away. In doing so, they are building a stronger economy and creating more jobs here as many graduates are starting their own companies.

This city is positioning itself to be a major commerce and tech center in this region, and there is great money to be made in investments during the build-up.

Here are a few reference sites:

Mayor's Commentary On Changes Happening In South Bend

How Cloud And Fiber Are Turning Abandoned Factories Into Innovation Centers

South Bend International Airport Connects Indiana To The World

South Bend To Get Free Wireless Internet Downtown

South Bend Highlights A Travel Story

Hotel And Apartments Planned For South Bend's Chase Tower

39 Proposed Projects Could Lead To 700M In Investment

South Bend Looks To Develop Downtown Areas - Redraw TIF Districts

Groundbreaking At Ignition Park

SOLD on 8/5/15! (late update) Thanks to everyone who looked at our ads.

Hello All,

I am in search of commercial buyers of the following:

• Office Buildings
• Apartment Buildings
• Apartment Complexes

The above types will be Small through Large, and will be Class A - C. Please specify your interest. We sell performing and non-performing. We work with US, and International, buyers. 

Properties we currently have are located in Northern Indiana.

Please send me a message in BP directly.

Thanks,

Jason

Nice two-bedroom home on a friendly street that sits across from a large park. Monthly rent is $650 with Section 8 paying a portion. The tenant in the house has made this her home for 14 years now, and desires to eventually own it one day. This is a great hands-off or passive investment for any investor no matter how new or experienced you are. Newer roof. It will need a light rehab of around $3,000 to take care of some cosmetic issues, and to seal the basement. Tenants take excellent care of the property. 

Here are the numbers, as a cash-flow property:

12** Wilber Street, South Bend, IN 46628

Our Price - $23,000

Rehab Cost - $3,000

Total Monthly Income - $650

Yearly Income (Based on 1 month vacancy) - $7,150

Yearly Taxes - $1,215.26

Yearly Insurance - $600

Yearly Management/Maintenance Fees - $1,560

Yearly NOI - $4,424.74

ROI/Cash On Cash - 17%

The last two digits of the addresses have been removed so that the tenants can continue to enjoy the right for peaceful and safe living. If you are serious about this property, and can prove that you are a legitimate buyer, then the rest will be given to you during your due diligence period.

Professional management and rehab services are available. Serious cash buyer inquiries only please. Email if interested.

Additional photos can be viewed here:

1714 Obrien Photos

This is your chance to own the ugly house on the block, and with a little work restore it to the cash flow machine that it used to be. This house has great bones, with a newer roof and mechanicals, and plumbing and wiring intact. 3-4 bedrooms, detached garage, and on a quiet block. The house primarily needs cosmetic work, but will make a great rental for a family looking for a place to call home! The rehab cost will run between $8,000 and $10,000 depending on how extensive you would want it to be. The monthly rent amount would be $600-$650/month. This house would also be an ideal candidate for an investor looking to sell on land contract or lease option. 

Here are the numbers, as a cash-flow property:

 1714 O’Brien Street, South Bend, IN 46628

Our Price - $9,900

Rehab Cost - $8,000

Total Monthly Income - $600

Yearly Income (Based on 1 month vacancy) - $6,600

Yearly Taxes - $1,032.32

Yearly Insurance - $600

Yearly Management/Maintenance Fees - $1,320

Yearly NOI - $3,647.68

ROI/Cash On Cash - 20.4%

Professional management is available. Serious cash buyer inquiries only please.

Email for more information.