All Forum Posts by: Jim C.

Hello! We just bought a house and will be closing on Wednesday! We'll be moving out Thursday!

  @Jerrad Shepherd -  What's the purpose of selling? For additional retirement funds to live off of? I'm assuming with an extensive portfolio like you have, you have quite a bit of cashflow? If you don't need the money from sale of properties to live off of, how about setting up a Corp. and putting all properties into Corp and then hiring management company to manage the day to day? Then the cash flow from the corp can be given to your kids and yourself (or however you want to pay out). 

I typically determine my lease terms based on location of rental (a-f). On my A properties, I typically do a yearly lease, whereas my C properties I do month to month, since most tenants in that class don't care what the lease says and will move when they want to, regardless of lease terms. If a A property tenant moves out and breaks lease (which is rare), its easier to collect since they are White collar class and have stable, long term employment. If my C  property tenant bails and  gets sued, most of the time they just quit their current job when I get a garnishment and then I have to start all over again trying to garnish their new job (I first have to find out where they are now working before garnishing.... and the process just repeats itself....). They just keep quitting their current job until I get tired of chasing them and give up collecting. 

@Brandon Rainwater- Welcome to BP! I'm a B&H investor who owns properties all throughout NWI. As you might expect, most B&H investors are mom and pops and kinda hold a low profile.  Are you interested in wholesaling, B&H, or ??? If you are interested in B&H, that's my niche and be more than happy to help you out getting started!

@Sean O'Brien- Welcome to BP! I currently invest in CP, Schererville, Cedar Lake, Griffith, etc.  as a buy and hold investor. Feel free to reach out to me if you need any guidance!

@Jake Jessen- I've got rentals I'd be interested in selling. PM me what you are looking for.

ROI vs ROE- Which one should win? As an example, if I purchased a property for 45K a few years ago that rents out for $1000, but could sell the property today for 90K, the ROE is low enough that it would make sense to sell! BUT, the ROI is decent. So, should ROI or ROE win out? Hold or Sell?

Only buy rentals in areas where you would feel comfortable in having your mother live there....

It all depends on the rents. If rents are < $1000, window unit are the norm for my area. If  $1000, then I would consider split-units or central air if you can get the duct work to fit into your units. 

@Chris Youssi- Thanks for the feedback. Anyone else want to chime in??