All Forum Posts by: Drew Wiard

@James Bausch - If you've found someone, GREAT.  However, I would advise you that having someone local is not NEARLY as important as having someone who is QUALIFIED.

I searched for a while, until I found my guy in Ohio.  He has customers in 30+ states all over the nation, and it's because he's well qualified to handle complex investor tax matters.  I've been VERY pleased thus.

Sometimes it's important to have local folks, but your CPA doesn't have to be one of them, IMO.

Ok, that helps.....    ....butt here's more to it, right?  There are Tax implication, etc...

Hey kids,

Sorry for the what I'm sure is a super lame question, but I've looked around the site, but have not found the answer to:  

"What's the difference between "Maintenance" versus "Cap-Ex?"

Any quick answers or links to other threads that explain this?  Thanks!

Hey BP nation.....I need your input!

In response to y most recent Yellow Letter campaign, I had a owner call me looking to sell a duplex that is in GREAT condition and cashflows VERY well.  We have not yet decided on price or discerned what he wants out of it, but he is looking to get out......may consider seller financing as well, if I am interested.

Here's the issue:  The Duplex is in a flood plane with a creek in the back yard.  Of course, I realize that should I purchase this property with a mortgage, flood insurance will be mandatory.  So that said, assuming it still cashflows well with the cost of flood insurance, is flood insurance enough security to cover the inevitable flood damage that will come at SOME point in this long-term hold?  Would you do it?  What advice do you have?  Thanks!

Oh!...and thx for the kind words @Jerry W. and @Jeremy Tillotson!

Market seems strong overall. Appears to be a sellers market for the first time in a while (depending on the niche you're looking at). Auctions in allen county are CONSIDERABLY more competitive and deals on the MLS are tougher to find.....but that all points to a stronger overall economy.

.....now, if only Indiana could get out of the political spotlight, we'd be in good shape!  ...but this too, shall pass.

Well, it's not as exciting as those guys who seem to make 3 million dollars out of a burnt-down shed and unicorn farts, but.....

I got my Indiana RE brokers license today!

I set a goal.......

Studied for 3 weeks.......

and had it all done in less than a month.  

Piece of cake! 

Since I work full time in healthcare, I GENERALLY intend to use the license for MLS access to help run comps for my investing (buy and holds, yellow letter campaigns, etc...).

Time to set a new goal......let the brainstorming begin!

Hey Shane!,

Welcome!  I am an investor, ALSO in Fort Wayne.  Would happy to chat or help in any way I can.  Don't hesitate to reach out!

I'd LOVE to drop in, but am likely tied up this time.  Maybe next time!

I COMPLETELY agree with @Scott Meyers ....I'd be skeptic of GOOD properties in Muncie, much less the bad ones.

Muncie was rather affluent 100 years ago, but aside from Ball State being there, there's not much left...certainly nothing to be optimistic about in regard to a market turn in the next few decades.

IMHO, I'd pass, for no other reason than the market.