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Updated about 10 years ago on . Most recent reply

Ryan Dossey's profile image
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Ryan Dossey
  • Real Estate Broker
  • from Indianapolis, IN
  • Member since Apr 29, 2014
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Ryan Dossey's profile image
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Ryan Dossey
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  • from Indianapolis, IN
  • Member since Apr 29, 2014
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Ryan Dossey
  • Real Estate Broker
  • Indianapolis, IN
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General Landlording & Rental Properties

How far away will you self manage?

Ryan Dossey
  • Real Estate Broker
  • Indianapolis, IN
Posted

I have a property owned by a family member that is a 2% property. Triplex. Fully renovated and rented. Each unit rents at 525. 

525×3= 1575

I know all the other numbers and it would be a great addition to my portfolio. Family built the building and have owned it for 30 years. But it's 50 minutes away. What do you guys think? 

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Joshua D.
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  • from Columbus, MT
  • Member since Oct 10, 2013
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Joshua D.
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Joshua D.
  • Investor
  • Columbus, MT
Replied

An hour drive is the most I would want to do... 

Is there a lot of deferred matenence on the place?  When I hear someone have owned a place for 30 years I think of differed matenence and undervalued rent. 

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