All Forum Posts by: Louise A.

@Ross Denman

Hey!  Welcome to BP!  I second Ross' comments about how hot those markets are.  I'd be worried if I were buying there now.  If I were new to town and looking at a 10-15 year hold period, I'd be focussing on the Red Line.  I think prices are going to go up substantially within a couple of blocks of the route.  

Good luck!

@Cameron Paterson

Hey!  Welcome to BP.  eCommerce!  Who knew that was a thing?  My husband and I are doing RE here in Indy.  Let me know if I can help. 

If you're looking at commercial for your business, I'd look into an SBA loan.  I think you have to occupy more than 50% of the space yourself?  But its a great product.  

If you have time once you're a dad, come to our REIA meetings. Both CIREIA and INREIA are great!

@Karthick Bhaskaran

Congrats on the purchases!  I've just gone through a business remodel myself, so although I'm not a lawyer or an expert, I'll chime in with my thoughts anyways.  

Unless you're doing business in CA, I wouldn't have entities there.  My RE LLCs are in IN with a holding company in WY.  The deal with WY is that the fees are low (maybe $100/year rather than $800/year) and they have charging order protection which means that if you have a judgement against you personally, the LLCs held in WY are protected from a lien.  They also provide better anonymity than IN.  But you should talk to a lawyer.  I'm using Anderson Advisors - https://andersonadvisors.com.  Perhaps you could call them to get their advice on your situation?  They're pricey if you use them, but in my opinion, worth the money.  And a quick consult might be free.  

Good luck!   

@David Raab

Hey!  Welcome to BP.  I'm a multi family investor here in Indy.  Its funny that you're doing sobriety housing because I'm currently researching ways to create affordable housing for underserved communities after doing a bunch of normal investing, and you're starting off that way.  Cool!  

Let me know if I can help in any way.  

I always needed leases for lenders too, and I'm not sure of any way around that.  Stinks that you have crazy cash flow and can't get credit for it!  

Good luck!

@Ashley Mullin

You're not doing PM any more?  If so, should I say congratulations?  

@Leo Gonzalez

If you're comfortable living there, chances are you'll find good people who also want to live there.  Screening is the key whether you're in D or A areas.  When I did my own leasing, I called 3 personal and 3 professional references as well as current and previous landlords.  They had to make a certain amount and have good employment history.  Lots of time investment, but you get a REALLY good idea about people by talking to the people they spend time with.  Good luck!  

@Grant Anderson

Ditto to Amy's comments. 5-7%. Not much besides the MLS is necessary these days because the market is so hot. When you find a real estate agent to work with, have them pull comps for you. That area is really block by block which could affect your sale price quite a bit. Good luck!

@Dan Turkel

My two cents is to pay attention to your gut.  2 years is a short time frame to buy, especially when the market is overheated and may have nowhere to go but down.  You're not comfortable managing from afar on your first property.  There's nothing wrong with that.  You can be successful and stay within your comfort zone.  Save money now so that you're ready for the house hack when you have a little bit more time to live in it!  Feel free to contact me with any other questions.  I'm house hacking currently and building my portfolio.  

@Vang Cha

You could use an FHA loan for your first property, live there for a year, and then buy another house hack with conventional financing after you have the down payment saved up. It might be possible to do this play a few times, but not forever!

@Steven Bonfante

Do you have a lender you're working with? Worth a call to make sure that the office space will still qualify for the FHA financing you're planning. They only do residential and are pretty strict. Good luck though. I love house hacking!