All Forum Posts by: Maxwell Wuensch

I moved into my first house hacking a little less than 2 months ago. It’s a duplex so I live on one side and have a month to month tenant that I inherited on the other side who is paying $550/month($100 below market). The side I live on is in good shape and could be rented out right now at market rent but the other side is in need of repair(floor/paint/kitchen). The m2m tenant pays on time and doesn’t complain but after doing some minor repairs on her side i’m realizing it needs more work than I thought and there are tendencies of the tenant that I see being harmful to the property long term such as not telling me when things don’t work and not keeping the unit in a somewhat decent condition and since we don’t have a lease in place and I inherited her with no security deposit, there’s not standard I can hold her to. I understand that I shouldn’t expect my tenant to maintain the unit as I would and that there are benefits to her not complaining or caring much about the condition but I’d also like to be able to choose a tenant based on my criteria and be able to move over to her side so I can live in it and turn the unit quickly while simultaneously leasing out the currently rent ready side that i’m living in now to cover my debt service while I get the other side rent ready for when I move out. Would love to hear some suggestions

@Will Fraser Thanks for the response Will! I’m trying to build momentum so it looks like hard/private money and/or equity deals is going to be the sweet spot for that, i’m just trying to avoid putting 20% down with a conventional because i’d still like to have reserves for my other rentals as I grow and I want to have as little money of my own in the deal as possible.

I just recently closed on my first duplex and i’m now pondering different ways of financing my next deal. my goal is to build up a portfolio and to do so quickly so i’m seeking advice from people who have been in a similar situation early on in their investing journey.

@Alora Glaze, Thanks for the advice, I appreciate it and will do!

@Mike D'Arrigo, I see that you specialize in turn key rentals, can you tell me a little bit about your operation?

@Alora Glaze, Thank you!

@Mike D'Arrigo, I live in Fishers currently but am looking to house hack in one of those areas i mentioned. I’ve just been trying to learn more and more about this market and you’re right there are definitely some rough areas like grace tuxedo, englewood, haughville, but i think there are still good long term investment areas in the places I just mentioned

@Mike D'Arrigo, Thanks for your response! I primarily like areas such as christian park, beech grove, little flower, pockets of devington, south broad ripple, and parts of warren park. I should’ve been more specific haha

I’m currently looking for my first duplex to house hack in indianapolis. I know it might sound dumb since all of you are other investors but if anyone has and/or knows of anyone that has some rentals they are looking to off load, I would love to make an offer.

Does anyone have any good suggestions for Real estate meetups/Networking events in Indy for real estate investors?