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All Forum Posts by: Mike Knowles

Mike Knowles has started 10 posts and replied 71 times.

Post: What are these stains on brick exterior?

Mike KnowlesPosted
  • Investor
  • Chicago, IL
  • Posts 80
  • Votes 21

I'm rehabbing a property and there are a lot of stains/deposits on the brick exterior.  I'm not sure what they are, what caused them, or if they are able to be removed.  They are all over the exterior.  Any thoughts?

Post: Springdale neighborhood - Indianapolis, IN turnkey

Mike KnowlesPosted
  • Investor
  • Chicago, IL
  • Posts 80
  • Votes 21

I own a duplex on that block of Beville (1301-1303) that I'm very happy with. Have owned it for a couple years and both sides are rented with good tenants ($725 each side for a 3/1).  With several rehabs on the block (thanks to both FS Houses and the Near East Area Renewal not for profit), it may be beginning to gentrify.  Ryan and Ashley actually manage it for me now (I didn't buy it from them) and I reached out to them last week asking if they had any other properties available so that should speak to my opinion of their service.

Post: Kitchen Cabinets - Indianapolis

Mike KnowlesPosted
  • Investor
  • Chicago, IL
  • Posts 80
  • Votes 21

You said no HD, but I use Kitchen Kompact.  They have samples behind the Pro Desk; they're not out on display.  Limited selection of styles, but they look nice and are made in Jeffersonville, IN so there's a short turnaround time.

http://kitchenkompact.com/

Post: Indianapolis Leads

Mike KnowlesPosted
  • Investor
  • Chicago, IL
  • Posts 80
  • Votes 21

Everything works.  Some things may work better than others, but it is all fruitful to some degree.  I would recommend picking 1 or 2 marketing channels and being consistent on those.  There are a lot of people sending mail right now so that may not be a good starting point.  You said you're making a lot of calls...not as many people are willing to pick up the phone so that could be a good approach for you.  It's low cost and likely not as saturated.

If you find a great deal, don't worry about the money.  There are plenty of people on here who will pay you for finding it (including me).    Good luck!

Post: Indy investors

Mike KnowlesPosted
  • Investor
  • Chicago, IL
  • Posts 80
  • Votes 21

Congratulations!  You said wholesale deal...are you looking to move it?  Plenty of cash buyers on here.  Give us some details!

Post: Carl Ghiselli - real estate in Indianapolis, living in London!

Mike KnowlesPosted
  • Investor
  • Chicago, IL
  • Posts 80
  • Votes 21

Big Bad!  Welcome to BP.  Now find us another deal!

Post: hard money and portfolio lenders for Indianapolis area investors?

Mike KnowlesPosted
  • Investor
  • Chicago, IL
  • Posts 80
  • Votes 21

For hard money, the folks at 

http://www.recasafinancial.com/ are good to work with.

Post: Handicap Accessible Turnkey Rental

Mike KnowlesPosted
  • Investor
  • Chicago, IL
  • Posts 80
  • Votes 21

Hi Steve - how do rents for handicap accessible units compare to non-accessible units?  Is there a premium?

Post: The Biker Bar is reborn aka my first Indy flip

Mike KnowlesPosted
  • Investor
  • Chicago, IL
  • Posts 80
  • Votes 21

Wow, what a change.  Very well done.  Here's hoping for a quick contract!

Post: Wholesaling with a License within a Brokerage

Mike KnowlesPosted
  • Investor
  • Chicago, IL
  • Posts 80
  • Votes 21

If there is no agency agreement with the Seller, are you really an agent/fiduciary?  There is no contract indicating that you represent them.

I'm playing devil's advocate here.  There seems a clear need to operate at a high ethical standard and, at a minimum, disclose that you are a Realtor and intend to profit from the arrangement.   At the end of the day, however, it's their house and if they want to sell it quickly for less than it would fetch on the open market, they can do that.

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