All Forum Posts by: Account Closed

There are lots of investors in Fort Wayne still on Bigger Pockets but most interaction is now on a Facebook group. Do a search for FWREIA on FB.

Hey Steve!

I think all rentals in Fort Wayne stay rented well because the housing market here is hot all around. There is wide diversity in the types of jobs from lots of doctors and nurses, college professors and students from our four colleges/seminaries all the way down the line. Amazon just opened a location and recently announced plans to expand already and our old GE plant is being purchased and renovated. I moved here in 2009 when they moved the minor league baseball stadium to downtown and that has exploded as well.
As far as reaching the plateau, I would say it is just about there, especially depending on what happens with our election results. I stopped buying in 2016 because I thought the prices had gotten crazy then when I had to pay $38,000 for a rental house! 
There are many PM's in the area. I advise calling several with a specific set of questions and asking around in private messages. Hope that helps!

Welcome to Fort Wayne investing Jared. I suggest joining the FWREIA Facebook group if you haven't already. Lots of good information there.

My advice would be to get off the MLS and find off-market deals. Start networking with wholesalers in the area.

I can also give you a real estate agent's name if you still need a contact.

Hi David. Yes, I have a real estate agent that I've worked with for years that I can recommend. Her name is Kathy Selig. BP won't let me post her number so feel free to look it up or PM me. She works with lots of investors.

I don't know which hospital you work at or where you live now but I did see a duplex for sale on Aboite Center which is in a good part of town. That would be something to consider house hacking. I personally wouldn't hang on to my primary house an hour away as a rental from the info you've given here. 

I've been an investor here since 2011 and currently own 15 houses. Let me know if I can be of help.

@Michael R., how did this turn out? Did you get all or only a part of your money back?

Chris,

I had flood insurance on a few properties here for the first year. Then the next year, they doubled like you said. That year we had some very heavy, heavy rains so I drove to the neighborhoods to see what was up. In one instance, not a thing. In the other two instances, the city had put pumps that led from the creeks straight into the storm drains and that took care of it very well. After that, I had no fear of flooding and dropped the insurance. Of course, the houses were paid for so that makes a difference too. They really sock it to you in many ways if you have a loan...

The concern I would have with any town that I were to invest in long distance is the property management. They can make or break you even if you are local!!

Welcome Spencer. There's a monthly meet up at the Mike Thomas office on the first Wednesday of the month at 6:30 pm. There is also a Facebook group you can join. 

Read my profile and see if I can be of any assistance to you.

Cami