All Forum Posts by: Chris Wood

@Shawn Holsapple   My 2 biggest problems with this deal for what I see, was retail (I hate buying at retail when I know things can be bought cheaper!) and the fact that so much cash was locked up to make this deal happen.  I am currently looking at some houses to rehab with the exit plan being to sell or refi and then rent. 

Yes they are 2/1, and you think rent is really to low? I am not sure how much more I can get out of a 2/1 with out a garage. This is a side by side duplex.

@Dale Hensley  One of my biggest issues with this deal was the 30k lock up and the time it is going to take to get it back.  There is got to be a better way.  Also love the Columbus deal, still trying to find one like that in my area.  Funny thing was I was just in Columbus and thinking about looking down that way but trying to figure out if it would be worth it being that I am trying to manage them myself. 

Thanks for the response.

@Justin Owens I bought this property in Bargersville, which is south of Greenwood and is Center Grove Schools. The School system seems to be something people want and has kept rents up. I also bought it because of the location, it is by 2 parks, but has some land behind it that I might build a garage for the tenants (and maybe some storage for me). But not sure I want to do that when I can invest that money in to another property and probably get a better return. Did find out during closing that former owner bought the property for 119k 10 years earlier (not sure this helps). Also I am not sure what you mean by hold backs? After all of my monthly expenses (PITI), I cash flow about 500 a month. I have a small emergency fund for anything that goes wrong. But the furnace and water heaters are new or newer, roof is about 3-5 years old. I have had to take care of small things, but nothing big.

@Elizabeth Colegrove   Thanks for your response. I new that I needed to do a deal and then analyze it after, to get me moving out of the analysis paralysis zone.  As well as learning from my mistakes. My sole purpose at looking at this is to make sure I do better next time.  Thank you.

Wow! That is an awesome step! Congrats!

I bought a duplex this summer for (was going to list at 129k, before we started negotiations) 115k, rent is 600 for each side.  Also seller paid half of closing costs. No vacancy (one unit has a 4 yr long term tenant, and other side has new 1 yr lease) and plan on doing my own property management as well as repairs.  My loan was 30 year fixed at 4.5%, with 25% down.  My payment is 660 and my insurance is 900 year.  Please let me know how I could have done this deal better! 

Merry Christmas! I hope everyone enjoyed some down time before trying to get into their 2015 goals!  God Bless!

I am new to commercial property but very interested.  I have not checked zoning and know that I am going to start there. But found a 10000 sq ft building that was used for a retirement home. In trying to figure out a creative way to use it and looking at its surroundings, due to the large amount of rental properties, I was thinking about turning it into a small storage facility.  I am looking for information. Pros and Cons or just general first thoughts.  Still trying to figure out this is viable option, building is currently for sale in a smaller city/town for about 50k. Also it is about 1.5-2 hrs away, trying to take this into account being that I usually to do some of my own work. 

Thank you to everyone who responded. I have already done several of the things that you have recommended! Thanks again

Thank you to all who make this possible, I am super excited to have found this website and everything it stands for.  I am currently looking for others on the southside, specifically Greenwood area and surrounding areas, who are interested in getting together to network. I love looking at all kinds of deals and trying to come up with different solutions. I love these opportunities to help others and grow myself in the process.