All Forum Posts by: Elizabeth S.

Good to know @Ryan Murdock!

@Allison Ledee we're in the same neck of the woods! I'm in Fort Wayne...another excellent place for returns :)

Hey!! I'm in Fort Wayne, IN! I was going to reply and noticed that, haha! 

I started investing 6ish years ago. I bought my first two properties at an auction, one of them sight unseen. 

Here's what's important on the first deal:

• Understand that this is a learning experience and you will make mistakes
• Make sure the numbers make sense...will you make money and is there a big enough gap between expenses and profit to make it worth it? -- This is the biggest reason that people hate real estate...with tenants being next! lol
• Balance the repairs and rehab costs with what you can rent the place for. So if upgrading the bathroom, kitchen, floors and trim don't HAVE to be done and will only raise the rent marginally...consider doing a few things over time, between tenants...rather than putting a large chunk of money in upfront.

Haha, I agree with @Diane G., the best return will typically happen locally to you.

On that note though, I live in NE Indiana and this is an excellent market. I have single family homes that I bough for $20k, put a few thousand in to get them rent ready and now rent them for $650-$700 a month (not including utilities).

Back to the first point though...I'm able to do this because I know the line between the less desirable neighborhoods and tenants and those that are just working class people who want great housing. 

Good luck!

I wouldn't buy from a listing agent EVER. They are not legally able to represent either of you...they simply act as a middle party. You want your realtor to be familiar with investment properties so they know what a good price is going into it and can negotiate. At the end of the day though, you are the only person who can make that call and who is working for your best interest. 

You said you've already asked for it, which works....it's better to ask and be told no then not to have asked at all. 

I'm getting ready to write a book about finding AMAZING tenants and would love YOUR feedback! 

When it comes to finding, screening and managing tenants...what do you wish you knew before you got started? 

Or if you're just getting started...what worries you about the process?

Thank you in advance! 

I live in Indiana but have a couple who is applying to live in one of my houses and they are from Ohio. In Indiana we have www.doxpop.com and mycase.in.gov which are both free sites to find court cases, does anyone know if Ohio has something similar? 

Awesome! I just logged on to check on something state specific, this will be a great resource!

Thank you for the advice! I've spoken with a few local investors as well and am still deciding. It's great to get lots of feedback though and to have a better idea of the pros and cons of each decision.