All Forum Posts by: Carl R.

It’s been great - grossed over 100k last year, and gets $8k per week in peak season.  It’s a nice place though - sleeps 12-14 and has a big pool and a hot tub and is close to the beach.

You are right about location - you need to be very careful, as within the city limits of NB there is a STR moratorium and the mayor hates short term rentals. I think that is helping those of us just outside the city limits.

I live just northeast of MC in Long Beach and we have a STR in New Buffalo. Let me know if I can help. I'm a realtor in Indiana. Good luck!

Are you looking at student housing or regular folk?  

Thanks - I think that's a good idea.  Just have my lawyer create a separate agreement we sign at closing.  That way we don't have to over-complicate the offer paperwork.

Hi - 

I'm looking to purchase our second vacation rental property.   Family that owns it has been renting it out, but also using it 5-7 weeks a year for themselves.  They are selling because don't want to continue self-managing it and their kids are growing up so they don't use it as often.

I've been thinking making a couple offers, with one including "2 weeks free rental per year for the next 5 years" or something like, thinking that it might be meaningful to them to be able to continue to enjoy the place without the hassles of owning it.

If we did that then we of course have to account for what happens if we sell the place or are living in it, in which case we would just "refund" them the weeks' rent.

Forgetting about making the pricing rationale and whether they would or wouldn't want it, has anyone figured out the legalities or contract language for doing something like this?

I'm trying to find something to offer to set us apart from just paying them more cash.

Thansk.

I am doing the exact same thing as you.  Not interested in being a real estate agent for other people, but I want to be able to buy and sell houses for myself.  

I am with one of the 'big' real estate agencies, because I had some good contacts there and it's helpful to be able to have someone to ask questions (they do this all day every day). Their fees are not too bad - small enough that I'm not sure what they how. However, I'm not sure you can get around paying the NAR and local association dues, and the MLS fees. That's a lot, but it's MUCH easier to find investment properties using the MLS.

Good luck!

There is a specific curriculum to the 90 hour course.  Here is an online version from the CE Shop:  https://www.theceshop.com/indi...

You will need a certificate from that 90 hour course in order to take the state exam.

It's not hard, but there is a lot to remember.

I'm local so I did a local company's real estate school and passed on the first attempt.  Unless you are super-disciplined, the 90 hour course is probably easier in a live class than online.  

I did use CEShop for the 30 hour post licensing course and I thought that was pretty good.   

We moved from Chicago to Crown Point last year.   We got a nice house for around $500k.   Twice as big and less expensive than the house we moved out of - you will appreciate how far your money goes here.   

However I don't think you would want to have to drive from St. John to WL.   (a) St. John is booming but IMHO it has no soul, and (b) it's a really boring drive.   If you WERE willing to drive 90 minutes each way, I'd strongly suggest looking at Valpo instead.  College town, great downtown, very livable.

I think you will be happiest closer to West Lafayette.  Even though it's full of Purdue fans.

What is Towne & Terrace?  Never heard of it, can't find it on a map.  Can you be more specific?