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Updated over 10 years ago,
Anyone invest in Northern Indiana real estate. Need Advice
Hello BP
Just looking for a little insight from all the wonderful and experience investors on BP, here’s my situation
I purchased 3 tax liens last year in Lake County Indiana, two of the properties are in Merrillville IN, the other one is in Gary IN.
So here’s my issue, I LIVE IN CALIFORNIA....I’m really familiar with the area and I’ve seen all the houses in person so i know the condition of each.
Cost of each property
#1 $3800 purchase, $1000 lawyer fee, $2000 back taxed= $6800 total investment. Rehab $20k
#2 $1200 purchase, $1000 lawyer fee, $600 backed taxed= $3000 total investment. Rehab $8k
#3 $900 purchase, $1000 lawyer fee, $600 backed taxed= $2500 total investment...rehab $10k
Total investment if i rehab $50,300
So I fly all the way out there to purchase real estate because I’m tired of sitting on the sidelines and now IM SCARED bigger pockets, any good advice on what i should, I’m so afraid of losing money investing in this area. I had a great feeling when i investigated the properties and area however now i just don’t really know. I’m asking because I’ve been approached by several wholesalers asking me to sell the house for not much more than i bought them for. However should i take the little profit and run or jump and swim with the sharks?
HELP...Lol