All Forum Posts by: Mihir Bhimaraju

@Chris Davis I looked at the county surplus sales and it's mind boggling to see so many opportunities! Do you just pay prop. taxes or have you had any success in owning them as well and then fixing them up?

@John Babcock @Jay Hinrichs thanks a bunch guys! I'm only looking at properties within 20-30 mins radius. There's a condo that caught my eye - it meets 2% but when I looked up the public property from county website, I noticed that the 'Land Value' depreciated considerably over the past 4 years. Have you encountered this before? the prop. value is still stable because of the interior rehab.  Is this a factor that I should consider?

Thank you very much everyone! I appreciate the warm welcome!

Thanks to the motivation and inspiration on here, I'm looking at a condo that I'm interested in. This meets the 2% rule. What I found interesting was that on the county public records site, the land value assessed for this condo seems to go down consistently over the past 4 years. but the interior improvements kept the rate of the condo up- kinda steadying the ship and balancing the price.

How important is this?  Is this a factor that's normally considered while looking at condos?

Guys, I was sifting through public records on a condo unit in a decent - up & coming, safe neighborhood. I noticed that the "Land value" on record has dropped from almost 10k to 1.5k but the interior upgrades that were done to the condo steadied the ship a little bit.

Cash flow is pretty steady and I'll make 2%. but the land value drop is baffling me and I can't think of any plausible cause. While i'm still in talks with my agent to dig up more info on this, I was wondering if anyone of you ran into this? Is this a red flag and if it is, how?

@Jay Hinrichs @John Babcock @Mike D'Arrigo @Tom Olson

Thanks y'all! This is tremendous info. I appreciate the helpful nature! 

@Erin Donlan That's great info! I'll be sure to attend the meetups soon. I just bought my primary residence last year, which kinda wiped out a big chunk of my savings. I wasn't smart about saving money or nifty enough to know all the tips and tricks back then. Unfortunately, I'm one of those folks who doesn't have access to a lot of cash for an investment. But I do hope to get there.. soon! :)

I'll keep you posted!

Cheers!

@Chris Davis You hit the nail on the head, my friend! I'm no expert, but I'm better at doing little handyman work by myself now than a year ago. I'm kinda experimenting on my current primary residence. You offer any handyman coaching? ;)

@Shawn Holsapple Can't' thank you enough for the nice post! So much information, it might take a few weeks to go over it. I appreciate it!

I read mixed reviews about having a full time job and doing real estate part time. I'm still skeptical about taking a plunge full time. Partly because I like my job. What do you think?

@John Babcock That's great info! Being an investor in Indy and giving the inside scoop is priceless! Are there any neighborhoods in specific that you try to stay away from.. or  any special interest neighborhoods that you keep an eye on?

@Lee Smith Thank you Lee! I'll definitely keep that in mind. This is really good info.

@David Faulkner It's always nice to see both sides of the coin. I'm open minded and will keep it in mind. I guess I'll just have to assess on a case-by-case basis.

@Account Closed I appreciate you reaching out to me, Steve! Will get in touch.

@Erin Donlan Thank you Erin! I'm located on the south side- around Greenwood/ Southport area. I'm well versed with this area and that's my first preference, but I'm also open to other parts of Indy.  What has your experience been so far? What are you recommendations?

@Allen Fletcher I appreciate the caution and wisdom! I'll definitely keep that in mind while looking around. I agree, I was driving through some neighborhoods that fall in this category and I did see sings of vandalism. It's interesting to see how there's a stark contrast a few blocks away from these homes. Will be cautious!