All Forum Posts by: Tyler Jahnke

Hi @Shiloh Lundahl ! Thanks for taking an hour out of your day to catch up on the thread!! 

It's great to hear your story and your decision to buy in Indy. Congrats on JUMPING IN, understanding where improvements needed to be made quickly, and turning around your tenant/vacancy issues.

THANKS especially for the positivism! I really appreciate it!

I'll keep everyone updated.

-Tyler

Great to hear @Bob E. Best of luck!!

As almost everyone has stated....refinish the hardwood!! A little more expensive upfront, but definitely a long term play for rentals.

Thanks @Ross Denman !!

Hi @Eddie V. - Thanks for the recommendation! I actually was thinking about doing some research on systems I can implement being out of state. This is very helpful and I'll look into it!

-Tyler

Hi @Diane G. - Thanks for your continued input. I clearly see your strong recommendation for buying in the SF Bay Area. Here are a few reasons I decided to go out of state for this particular investment:

-Indiana's landlord friendly laws.

-My property taxes are $1,000 a year.

-Price to rent ratios.

-I'm not comfortable taking on a $500K mortgage where an extended vacancy would be financially destructive to me.

-I don't bank on appreciation.  How can you guarantee 200K in equity in 10 years?

-I can't afford to take a loss for 3-5 years in hopes of reward at this stage in my investing career.

-Excited to learn a brand new market.

Will out-of-state work out for me? I really don't know at this point. It's still a major TBD, but this is the strategy I choose and can't go back now!

-Tyler

Hi @Natalie Schanne - the PM contract does not clearly state I'll be consulted for approval of repair/maintenance costs.

Advertising expenses are not clearly stated and limited to a specific amount.

You bring up great points and potential loopholes, but I'm putting my trust in them that they won't surprise me with a $10K advertising bill.

-Tyler

Hi @Michael Couto - I had the same questions myself. In reference to my post:

https://www.biggerpockets.com/forums/48/topics/392...

Seems like a big factor is related to how much equity you have in your investments. And risk vs. protection. At this point, I've decided not to pursue an LLC at the stage I'm in.

-Tyler

Hi @Jameson Wildwood - Does this group still exist? is there a similar one on the East Bay? I'm very interested!

-Tyler

You're welcome @Tom R. and Thank you!

-Tyler