All Forum Posts by: Tyler Wisner

Hi everyone, I have 2 SFH's under contract in Anderson, I've talked to a couple people I've made contacts with out in Indy, most of them are saying they've had great experiences in Anderson. I'd like to get some other opinions on what your experience has been there, has it been hard to lease up properties? Is the city really declining and or are you seeing a lot of people move out of Indy due to higher cost of living and using Anderson as a commuter town? Any advice/general knowledge would be much appreciated.

@Chris Collins

Thanks for the advice Chris, I have a property manager for my SFH properties, maybe I should run it by them on what their average per unit cost is, definitely a great idea!

@Rob Bassett

Hey Rob, I heard of this from a friend, I’m definitely going to check it out!

I appreciate all the thorough responses guys! I will definitely take all of this into consideration.

@Mason Hickman

Hey Mason, appreciate the advice, when making initial offers though, on a property in an area with an 8% capitalization rate, would you use the 50% rule along with vacancy added on top to come up with an offer price to start with? (Assuming you did not have previous year expenses.)

Hey everyone, I’m getting into small apartment investing, I’m looking for a 5-8 unit property at the moment, I’ve read people use the 50% rule, as a rule of thumb when making offers, does that generally include your vacancy expenses or do you add vacancy for your area on-top of that?

Also for anyone that buys apartment buildings, do you find the 50% rule is pretty accurate? If someone uses another method to assume expenses before doing their due diligence on the property to make offers I would love to hear it.

@Jim Scandola my overall goal is to buy deals that have value add opportunities, so at the 5 year term I would most likely be selling or refinancing, whichever option is most suitable at the time.

Do you happen to have a lender you recommend? Also, I really appreciate the help.

Hi everyone,

I’m looking to get into 5+ unit properties, I’m getting familiar with the financing options available, a local bank in the Indianapolis area where I am looking is offering, 4.25% with a 5 year term, 20 year amortization, my question is, are these considered good terms? I’m looking at properties in the price range of $400,000-$500,000, any advice would be really helpful, thank you.

That’s awesome, what part of Indiana?

@Jiva Segaran yes definitely a bonus, if you have homes, prices are sky rocketing.

Hopefully once evictions are allowed we’ll see more stuff come into the market.