All Forum Posts by: Brian Horwitz

Thanks for your reply Brian. I will look into the door requirement here. What about apartments? They only have one door. I was thinking about a werner fire escape ladder I can install near a large window. Do you know who I would inquire with about the codes here in Indiana? Building department?

Sorry, my properties are located in Indiana. I will send a formal letter and start there. Thanks

Hi, I am currently changing a SFH into a duplex with the bottom level one unit and top level one unit. My contractor built a wood stairway entrance to the top unit and I'm concerned my tenant will be trapped if there is a fire. can I put metal stairs near a window as an emergency fire escape?

Hi, I am currently changing a SFH into a duplex with the bottom level one unit and top level one unit. My contractor built a wood stairway entrance to the top unit and I'm concerned my tenant will be trapped if there is a fire. can I put metal stairs near a window as an emergency fire escape?

I have had a property manager taking care of my properties for the last 6 years. I have 25 SFHs and one person handled everything. Unfortunatley as I grew and learned, I realized she wasn't doing a great job. Homes were left in poor condition, repairs weren't done right, and tenant phone calls were being ignored. On top of that, late fees were being pocketed without giving me anything. I Decided to move on from this manager 2.5 months ago. After giving her 30 days notice, I took over the management of my properties. Everything is now going great. Unfortunatley, she is withholding over $4,000 in rent money she collected for me. What are my options to recover these funds? I realize getting the money may not happen but I want to make her squirm on principle. I was thinking a small claims suit and a report to the real estate board so this person stops collecting money for people. My main goal is to stop her from operation so other people don't get taken. Thanks for reading

Brian

The properties will need some work so i need 200-300k to get me started. I will use existing rental income and income from my other business (ice cream shops) to fund the repairs needed. I also have an offer from a friend to partner up where he puts 100 percent of the money in and I do the work. I don't know if that is a better deal or just getting the money from a bank?

thanks

brian

Hi BP!

I am an out of state real estate investor in Indiana. I Currently have 12 properties. I mostly just do buy and hold cashflow investments. I have a personal cash out refi mortgage on 3 of them. The other 9 are paid for. Asset value is 800k. I want to buy a package of 12 more properties for 160k so I need at least 200-300k loan to get started. What is the best option for me at this point. Commercial loan with a local bank?

Thanks

Brian

@Dennis Weber this is for st Joe's county up here in the South Bend area. I know the county very well. Granger area property is too valuable. I have focused on mishawaka and specific neighborhoods that rent well in SB. I have looked at many liens/properties on the list in the $1000-3000 range and I dont know if I should go for the vacant beaters, occupied likely rentals, or the properties with over 100k.

Hi Ned, Thanks for your info! 

In your experience out there, does a lower lien amount mean the property is more likely to redeem or is it just random?

Is there a good place I can go to check on liens that might make it likely to redeem. If a property has a mortgage, wouldn't it never end up at tax sale? I have mortgages and the bank pays the property taxes.

Thanks

Brian

Well, It is tax sale season here in Indiana and I am interested in dipping my toes in the water of this jungle. I have looked at many houses on the list and was wondering what kind of strategy works best if you are interested in acquiring the property and not just getting the interest money. I just want to get properties for a good price, rehab, and then collect rental income for myself. I'm sure most the of the properties have been sent a letter from someone wanting to purchase already. Is a vacant property better odds than an occupied property? Run down property less likely to redeem? Are Information searches of the owner helpful? Are C class properties the most likely to redeem?

I have limited funds so will have to select 5-10 properties out of several thousand. How much over the face value do people typically pay?

Thanks

Brian