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All Forum Posts by: Josh C.

Josh C. has started 13 posts and replied 1256 times.

Post: Is the tenant responsible for replacing ballasts?

Josh C.
Posted
  • Property Manager
  • Indianapolis, IN
  • Posts 1,299
  • Votes 1,316

No. Have you ever replaced one? They are not easy. You have to remove the housing and ballast have like 10 wires coming off them. Plus if you hook it up wrong you can fry the ballast and melt wires. I’m not sure the average maintenance guy is capable.

Light bulbs, furnace filter, and batteries. That’s it.

Post: Renew Indianapolis Properties

Josh C.
Posted
  • Property Manager
  • Indianapolis, IN
  • Posts 1,299
  • Votes 1,316

@Trago WAllace

It’s exactly as you described. Some good deals but lots of upfront headaches. You have decide if it’s worth it or not. Personally, I have found it not to be and just bang my head against the wall, but certainly people do buy them.

Good luck and keep us updated if you go through it.

Post: I'm Planning to use $5000 cash to invest in Real Estate.

Josh C.
Posted
  • Property Manager
  • Indianapolis, IN
  • Posts 1,299
  • Votes 1,316

@Randy Mbouge

That’s an excellent way to get started. You’ll learn a bunch and save probably 8-12k a year on rent payments. Highly recommend for a year or two depending on your family situation. I did it for a year and it was a great way to get the ball rolling.

Post: ISO downtown Triplex and SFR

Josh C.
Posted
  • Property Manager
  • Indianapolis, IN
  • Posts 1,299
  • Votes 1,316

@Nathan Socrates

Looking for something to house hack? I got a high double in St Clair if interested. But that’s just a great way to get the ball rolling. I lived in Herron Morton for a year and it was a great decision.

But $1200+/m rentals are also nice to just have as rentals also.

Good luck!

Post: WHAT IS THE PROPER WAY TO OPEN A BUSINESS CHECKING ACCT AS A REI?

Josh C.
Posted
  • Property Manager
  • Indianapolis, IN
  • Posts 1,299
  • Votes 1,316

I think I always say we property managers of property we own. Never had an issue opening multiple accounts. Mostly at Chase. They have to check the box.

Post: Indianapolis - New Investor - Rent Income Question

Josh C.
Posted
  • Property Manager
  • Indianapolis, IN
  • Posts 1,299
  • Votes 1,316

As others have said. No way $1350 for that. Glad you asked and glad the locals stepped up.

Post: $2,000,000 Tax Burden at age 26! Please help!

Josh C.
Posted
  • Property Manager
  • Indianapolis, IN
  • Posts 1,299
  • Votes 1,316

Cost seg is likely your best bet. But don’t buy a dog just to avoid Uncle Sam. You likely have the ability to make a ton of money and your time might be best spent doing that instead of stressing on not paying Cesar what is Cesar’s dealing with a new field. Or maybe you sold your company and have nothing to do in which case cost seg may be a great fit for you.

Also agree with others. Don’t say you have 3 Mil burning a hole in your pocket on a giant public forum. Lol. RIP inbox.

Post: Anyone having problems getting windows delivered???

Josh C.
Posted
  • Property Manager
  • Indianapolis, IN
  • Posts 1,299
  • Votes 1,316

@Sophia Berry

Yes, 8-16 weeks is the new normal. It’s a huge bummer. Last year was 1-3 weeks. Lumber prices are up 100%. Sucks all around for material price increases.

Post: How can I reduce my electric bill?

Josh C.
Posted
  • Property Manager
  • Indianapolis, IN
  • Posts 1,299
  • Votes 1,316

@Nate Fleming

I agree with you that the cost would be high and his ROI may or may not be good. Unsure.

I’ll also agree that heat pumps don’t have that same “hot” feeling other furnaces have as the coolant doesn’t get super hot.

You may disagree on heat pumps heating cost, but it’s not true. Not even close. Do some YouTubing to dig deeper, but the days of heat pumps not working under 40 are long gone. Just don’t want to let the folks reading this to believe this. It’s huge delta. At least 2x in month electric bills. Also, heat pumps aren’t more efficient than normal AC during the summer. It’s the exactly the same. Same refrigerate cycle it’s always been. Heat pumps just allow the cycle to be reversed in the cold. Not to get to technical, but I used to be a mechanical engineer selling energy and network projects to big companies, now I run our construction department and install lots of HVAC, and can promise you heat pumps and electric baseboard are light years apart in monthly spend unless you live in Alaska or something. Jump on YouTube for 15 minutes for a good lesson on it. Actually pretty neat how they capture heat from 15 degree outdoor air and turn it into 80 degree indoor air.

Post: Property Under Contract and then.... Fire!!!

Josh C.
Posted
  • Property Manager
  • Indianapolis, IN
  • Posts 1,299
  • Votes 1,316

@Austin Elm

No you don’t get to force sellers to give you the new and improved property at the agreed upon price for the original property. That’s pro level entitlement right there. Lol. Image you were on the selling side of this deal, is that what you’d want your buyer to expect?

Personally, I’d try to have the seller keep the check and get the property much cheaper and control the repairs myself. If the new value supported all the repair money. Then I’d know it was done right at least.