All Forum Posts by: Anthony Sgro

@Jean Zipagan that’s basically the numbers I was thinking for the area, as I got my duplex for 90k. I have a 3 bed/2 bath and a 2 bed/1 bath, all one level. I am inheriting a renter in the 3/2 for $650 (I know it’s below market, but they were related to the seller). Once their lease runs up, I’m hoping to bump it up for $800.

As for the 2/1, I’m hoping to get $650.

@Mike Cumbie it does, thanks!

@Mike Cumbie where would you start to go this route? I’ve always been interested in getting into this area. Thanks!

@Jean Zipagani just purchased a duplex in the Garfield Park area on Boyd Ave, right by Emma Donnan and the catholic schools. How do you project that area? I’m seeing it as a class C area right now, but I have heard that it could be more of an upswing area with the University of Indianapolis nearby.

@Ryan Mullin hey Ryan! I know this post is a few years old, but I just bought a duplex in Marion County near Garfield Park. It’s a 3/2 and a 2/1. I’m thinking this area is a C neighborhood, but I’d love some clarification from someone who knows more about the area.

Thanks!

Just had an offer accepted foot a duplex on Boyd Avenue near Emma Donnan and Central Catholic School. Anyone with an knowledge on the are, what would you categorize as the class of of neighborhood? My thought is it’s a class C neighborhood, but I am an out of state investor, so I’d like to hear from someone with more or an idea about the area.

Thanks!

@Ric Ernst sounds great. Thanks everybody!

I currently have an offer accepted on a duplex in the Indianapolis neighborhood. One side (2 bed, 1 bath) will be rehabbed and rendered out upon purchase, while the other (3 bed, 2 bath) currently has a tenant from the previous owner.

The tenant has been in the property for multiple years and seems to keep the property in good condition. They pay well below market value for rent, due to being related to the previous owner. Their current lease ends in December and they are on the fence with resigning for a higher price or moving.

Initially, I want to gauge their interest by meeting in the middle and offering them a slightly high rate, while extending their lease until the springtime. This will allow me to find a tenant for full market value in the spring, in addition to giving the current tenants a better time to find a new place (if that’s what they choose).

Any thoughts on this situation?

@Harjeet Bhatti I’ve never heard of this. Do you have the link to MLO, or I’d this a specific program? I tried running a search for it and couldn’t locate it.

@Matt Nico that all makes sense. I believe my DTI issue dealt with trying to get funding for a SFH. Right now, the property I wang to purchase is a MFH, which will allow me to put my projected rental income in my overall income, correct?

The numbers for my projected MFH look like this:

Mortgage ~ $370

Gross rent ~ $1200

This should help my DTI to get approved.