Investor from Crown Point, IN

Investor from Crown Point, IN

Investor · Crown Point, IN · Member since 2014 · 177 posts · 84 votes

Hello all, 

I have been slowly buying rental houses in the NW Indiana area, though slowly. My first rental house had been purchased in 2005, and most recent October of 2015. Between my wife and I we now have 4 rental properties, 3 in NW indiana, and 1 in China. 

In the past I had managed my properties myself, and with all the trouble I had with a few tenants, over time came to realize that for me at least, property management makes a lot of sense. I gave me back my evenings and weekends, as before it seemed like I was always either chasing after some tenant issue, or had something to repair. I saw a lot of that as valuable though, because without experiencing some of this, I don't think I'd have as much respect for what my property manager I currently have does for me. 

So, what brings me to BiggerPockets. I had been listening to the podcasts, and it seemed like I should try to reach out and try to place myself into places where I can be exposed to new ideas, and where I can learn from people who may have some experience I don't. over the past few years I've also joined my local RIA (which some members seem to promote bigger pockets as well), and have been to a few real estate expos (the most recent being one in Dallas, TX back in Feb.)

Dave

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  • Investor · Dyer, IN · Member since 2015 · 42 posts · 6 votes
    10y
    Welcome David! I'm an investor from Dyer, and I used to live in Crown Point. I am in the process of rehabbing my first rental purchase in Griffith. BP is an amazing resource so I think you will find a lot of help here. It's interesting that you have a property in China, what's the story behind that? Do you find it difficult to manage from overseas? Is it profitable?
  • Rental Property Investor · Gary, IN · Member since 2015 · 10 posts · 0 votes
    10y

    Welcome David, I would like to hear about your property in China.

  • Rental Property Investor · Rensselaer, IN · Member since 2014 · 30 posts · 8 votes
    10y

    Welcome David. I live in Rensselaer, and invest in thw Jasper county area. I am pretty new to BP, lots of great info.

  • Rental Property Investor · Rensselaer, IN · Member since 2014 · 30 posts · 8 votes
    10y

    I forgot to ask; which REI club?

  • Los Angeles, CA · Member since 2014 · 2k+ posts · 515 votes
    10y

    Hello @David Hedges and welcome to BP. BP is a great place to find real estate information while connecting with other real estate investors. You came to the right place. You are not alone in your real estate ambition. 

  • Investor · Crown Point, IN · Member since 2014 · 177 posts · 84 votes
    10y

    Hi Ken and Tyrell, 

    So the house in China is my wife's old house. That is the only one that really isn't profitable at the moment, though once the short term loan on it is paid off later in the year, it should be ok. Her family actually helps with some of the management on that property, and overall it's been similar to working with my property manager from around here. Property over there does seem to cost a bit less, but rents are also way lower, and I had found out that most tenants there expect their apartment to be furnished. The upside is repairs and maintenance costs are far lower than in the US, though mostly because labor there is cheep, and there you don't need to deal with getting permits for most work. 

    Rick, 

    I joined NICIA last year (www.nicia.org). They meet in Merrillville, and I hadn't heard of others in the area. 

  • Property Manager · Griffith, IN · Member since 2015 · 1k+ posts · 913 votes
    10y

    Hi David- welcome to BP. It's a great resource of info and fun people to meet. 

  • Investor/RE Broker · Eugene, OR · Member since 2014 · 3k+ posts · 968 votes
    10y

    @David Hedges Hi and welcome to BP!  I am also an investor in the NWI area, although I live in Oregon.

  • Investor · Crown Point, IN · Member since 2014 · 177 posts · 84 votes
    10y

    @Larry Fried what part of NWI do you invest in? how did you get started investing here? 

  • Investor/RE Broker · Eugene, OR · Member since 2014 · 3k+ posts · 968 votes
    10y

    @David Hedges  Well it is not the only place I invest, but the answer to question is Lake County, and how I got started is a long sordid story, where I took a flip deal with someone who posted here on Marketplace.  That guy turned out to be a really bad player, but I ended up meeting a much better partner in the area as a result.  If you dare, you can read a three part blog I wrote last year about the deal staring here. There is also a thread I started about it here.

  • Investor · Crown Point, IN · Member since 2014 · 177 posts · 84 votes
    10y

    @Larry Fried wow!! I read through that and remember who that guy is. I ran into some of his representatives at a the chicago rei expo few years ago. They were pushing the same deal you were talking about, though it sounded interesting at the time, though from what you say of your experience I'm glad I didn't pursue that one... 

  • Investor/RE Broker · Eugene, OR · Member since 2014 · 3k+ posts · 968 votes
    10y

    @David Hedges You should be very glad you did not take pursue one of those deals. As I mentioned in my thread, I know multiple other investors who took similar deals to the one I took.  All but one got burned.  

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