All Forum Posts by: Mark Plesha

Hey @Ben Martin, I'm a realtor and investor in NWI and have lived in Highland basically my entire life. I'd love to sit down for coffee some time and chat real estate/investing. 

Hi @Rashad Jackson, what area of Indiana are you looking in? I'm a realtor in northwest Indiana and I invest here as well. If you need any help with anything, I'd love to help!

@Steve Hyzny I live in Highland, IN and invest here as well. I agree with what someone else posted above, it seemed like you answered your own question. I'm sure the emotional attachment will be hard to get over, but financially speaking, with everything you said it makes the most sense. We are seeing a wave of people coming from IL for the exact reasons you just pointed out which is driving higher property values because there is no supply right now. My wife and I bought our house for $135k 5 years ago. It is a ranch that was completely outdated. A home similar to ours a few streets over just went up this week for sale by owner for $245k. I still can't wrap my head around it. Anyways, if you have any questions about our market or best areas to live/buy in feel free to reach out to me.

@Matt Wells I live and invest in northwest IN and what you stated is correct. The good thing is taxes are extremely low to begin with in most places in the state that it is still an extremely viable market. I pay just under $5k a year in taxes on one of my properties, but I'm still cash flowing well and the property has appreciated far above inflation the past 3 years. I can't speak for all of the state, but NWI is a great place to invest. Hope this helps. 

@Martin Sterling I live near Gary in Highland, I have not seen or heard of any contractors doing this. I did however find an article of some contractors doing this is in the suburbs of Chicago. Here is the article, maybe the contractor referenced could be a good point of contact for you.

https://www.chicagobusiness.com/residential-real-estate/house-made-shipping-containers-gets-underway-westmont

Good luck Martin, let me know how it goes, definitely interested.

@Meryl McElwain Are they not paying anything at all, or have you had the conversation that rent is still due every month, but if they can pay a % right now then that is better than nothing. I think it would be helpful to sit down with them and explain that your mortgage is still due, the taxes and maintenance bills still need to be paid, etc. Maybe they can be put on a plan that when they become employed again they can start to make up for lost rent with an increase to the prior agreed upon rent. I'm sorry you have to deal with this, let me know if there is anything I can do.

@Jonathan Steele it is definitely addictive, I started listening to the podcast in 2015 and haven't stopped yet. It took a few years, but I finally left my job and now I'm going full time into real estate. Good luck and don't hesitate to reach out if you have any questions or want feedback on something!

@Ryan Millea It definitely depends on what your goals are. I think with you stating that you are new to investing, just keep collecting the rent money and take a few months to immerse yourself in BP and reading books that get suggested on the podcast and you'll come out with a clearer picture of what fits for you.

@Scott Tangney tons of great advice from everyone on here for you to digest, I didn't read all the replies, but one thing I didn't see mentioned that @Brandon Turner always talks about is analyzing deals! You are onto a great start, and I agree with all the book recommendations, but especially with how competitive the current market is you need to be able to analyze deals quickly and efficiently. Having this ability just takes practice like everything else in life. I would suggest waking up 45 minutes earlier than normal and analyze 3-5 deals every morning. Getting that sense of accomplishment at the beginning of your day is huge for the mental side of things. 

@Dave Foster thank you for your reply, I will definitely be reaching out to our accountant and ask these questions. Appreciate your time, sir!