All Forum Posts by: Paul Latendresse

I meant they’re getting info on unemployment for me.

Recently had a tenant move out, and it’s been pretty nerve racking trying to fill a unit during the pandemic. Recently had an individual apply that has a job making decent money as a bar manager. However they’re on unemployment, but they say the company is bringing them back on within a few weeks. Should I even consider these kinds of applications? Currently they’re getting into to send in on their unemployment, and having the company email me on return to work. Let’s just say that the pandemic ramps up again in Indy that could cause longer unemployment, and we cannot evict tenants here right now.

What’s your experience with investing in a different state?

How do you feel about it?

@Austin Steed

But I want to get into my next deal regardless. My goal is to replace my income with passive.

@Austin Steed

I’m at 3% on the rental. 4 1/2 on the house. I intend on selling this house eventually. I’d love to house hack again if I could actually find something. Girlfriend will not move from the area because her son has gone to school here for years and her mother helps with him. So unless I find something in my area she’s not up for it

The house I live in I owe 198,000 on and it’s worth 234,000. I have no liquid cash, a 22,000 personal loan, but I have a duplex I owe 65,000 worth 170,000 that rents 1600 a month altogether minus the 720 dollar mortgage. So cash flow is 880 a month. There’s not much as far as multi family that even makes financial sense to me in this market. What would you do?

So about 8 years ago I purchased a duplex as my first property in Plainfield, IN. Bought it for 78,000 owe 65,000 on it now, and it rents 1600 a month. It is valued at around 170,000 currently. I just got out of a divorce, and it took all my liquid to keep her from the rental and my retirement. I’m just starting on getting my finances in order and hope to start saving soon, but all my cash is in assets. I’ve been analyzing deals and I’ve found some. One is about 275,000, but has a great cap rate. Looking at it the area is class c. Should I try, and Leverage equity to grow? Selling I don’t really want because my first property is in a great location and it generates great cash flow. I really want to build, but this market is very tough. I’ve even entertained looking out of state but that scares me.