All Forum Posts by: Bart H.

Rightly so because if they don't want your house the information you are asking for is none of your business.

Yes, you definitely broke the rule about rooming with friends.  However, that is in the past and you cannot undo that now.

It sounds that although you are very upset with him, you want to maintain your friendship.  I also agree with you that he is taking advantage of your friendship.

It is probably not the worst idea to evict him, but I am going to answer this going with the thought that a flat out eviction will potentially end the friendship and you don't want that.

Therefore, in your conversation with him you need to politely but firmly inform him that you have issues with how things have been and want to formalize the landlord/tenant relationship.  Inform him that you plan to have him sign a lease (I am guessing you don't have one in place since he is a friend; if you do you need to revise and/or enforce it).  Also tell him that there is going to be a penalty clause in the lease for late rent payments with whatever grace period is required by Texas law, if any.  I would suggest having an actual attorney draft the lease for you.

If he doesn't want to sign the lease that is fine; he can move out.  If he does, you do need to follow through and enforce it; it doesn't do you any good if it is just a piece of paper that you both ignore.

These properties are not in Auburn they are in Fort Wayne, Indiana.  The second largest city in Indiana and ranked in the top 10 for housing markets.  We have a lot of manufacturing jobs and our unemployment rate is low.  If you are talking about manufactured homes I believe you are talking about Elkhart Indiana which is the RV capital of the world  @Bart H. how many properties do you own in Fort Wayne as I think you mixing things up?

@Austin Tam and @Tommy Spijkers I will email you here shortly!

I am currently saving up for my first property and my goal is to have my first rental property in Houston, TX by the end of 2018! I am starting to become a lot more familiar with REI but one thing I'm confused about is, what might be the best way to start investing for someone with no experience and my age (22 yrs old)?

Some background on my finances: - I make about 48k a year after taxes - I don’t have any credit card debt. - Only about $5k in student debt - I am saving $1.5-2k a month with about $2.5k saved up currently - I have about $1.2k in expenses each month

I have big goals and want to achieve financial freedom (making about 1.5-2x my current monthly income) by Jan 1, 2023. I’m planning on starting with small multi family properties or SFRs next year and maybe moving into commercial real estate later on.

So back to my question, for my situation, would it be better to get a small multi family property and house hack it? Or are private/HML investors willing to take gambles on new investors with no experience? I have been able to successfully build relationships with other people in real estate thus far, but am wary whether people are generally trustful of new investors.

Hi, I'm Ludovic Gombos from Dallas and I'm looking actively in the IN market... Indy and around.

interested in this deal. could I get more details? neighborhood class, why is seller selling, is this a wholesale? expenses property tax, insurance? 

Ludovic Gombos

[email protected]

here are some ideas

pretty much every major MSA East of the rockies and not quite to the eastern seaboard.. have older areas of the city that have all sorts of board ups and excess inventory that sellers cant wait to get rid of .. your buyers would be those that want low end rentals.

Detroit  south of 8 mile

Chicago  south and west side

memphis  frazier

Cleveland inner city

Philly inner city

Indy  there are pockets just follow anything Morris is buy or selling those are the streets you want

St. Louis  ferguson

Birmingham just north of downtown

Jackson  ( west )  look by Hawkins airport

all of these cities will have areas of homes you can purchase for under 30k and many cases under 10k.. also for some secondary markets look at

fort wayne

rochester

buffalo

Gary Ind.

also you can find cheap houses in just about any small under 20k population town in the mid west that is out int the country a little bit especially IL 

Thanks for the feedback so far everyone! It has definitely been frustrating seeing other potential deals pass by because of this one being in a holding pattern. The seller is a 'community action center' and they have several houses on the market concurrently that all seem to be in the same situation, come to find out. Turns out another house that I viewed on the same day was one of theirs as well and is also still sitting there as 'active' after almost 2 months. I am seriously considering putting a hard deadline on the offer.

@Jay Hinrichs Quick search tells me as of '08 TAR forms did not have auto expiration. Not sure about current forms... OP needs to look. 

Withdraw the offer.

Are you able to submit offers on more properties while this one waits for a response? If not, give them a deadline asap. If so, maybe less stress but I would still give them a deadline. Let them know your offer is off the table in 24 or 48 hours. If no response, move on.