All Forum Posts by: Josh C.

@Aaron Singer

We primarily work with out of state of investors, and would be happy to help. Harvey mentioned above runs a nice shop as well.

But watch out for the “franchise” outfits also referenced above. They don’t have an typical office and charge all kinds of fees to the tenants they don’t talk about. I get their marketing all the time and they said they had a 0% eviction rate. Not possible unless they manage only 10 rentals despite their marketing also saying they “manage 10s of thousands on units locally.” Yes 10k rentals locally. Lol. Odd since I’d never had a tenant come over that lived in their of their units until very recently and their “office” is a small office in a downtown tower where tenant could never even go to conveniently. 🤔

@Jesse Dix

Indianapolis is a great market. You can do well with small multi units. Just avoid the rough areas with super cheap prices. Let me know if I can help.

@James Hamling

Some counties don’t require it. I’m serious. Want to build a 10,000 soft addition in your house? No problem. Just tell the county what you spent. No permits needed.

@Lenza McElrath

I’m sure he good have been nicer. Although I think he successful in spite of his tact and not because it. But he did give one piece of really solid advice.

That is everything the seller tells you is wrong. Period. You should not care about historical numbers or trailing 12 months or last years financials. Most people when they sell are either doing no maintenance so the expenses will be low or lots of rehab so the number look like trash. Additionally, most small multis are run by small investors and they have tenants in there that have been there a long time and never raised the rents. So the income number is likely low and the maintenance numbers likely zero. And both are wrong. Do your own numbers and you’ll protect yourself.

@Mike D'Arrigo

Agreed. I feel the super bowl really kicked it off major developments and sparked people really wanting to be be downtown.

I think charging them for rust spots on a floor made to hold cars and lawnmowers is excessive. Everything inside for sure, but garages are made throw your rusty crap on. I highly doubt some rust spots on a garage floor hurts value or rentability of the place.

What was totally job cost, like $70? Anyone would bills 45 mins and less than 1 hour of time is a nice/honest and probably poorly paid guy. That likely didn’t include drive time and you got that for free. Pay the man.

@Thomas Rutkowski

Not sure what this graph is. But your position is a combination of whole life policy and RealEstate investing is better than (that same monthly spend apples to apples in month dollars invested) term life and RealEstate? Hmmmm?

It depends on the thing. As mentioned above you are not going to find anyone good to show up and do a job for $14/hr and do a good job. Not going to happen. I still jump in every now and again and I pay myself a lot more $14/hr and enjoy having a finished product.

@Sawyer Dina

Unfortunately no. I as mentioned before no bank with give you money unsecured. By that I mean not guaranteed by assets you already have. Like another house with no mortgage or low LTV. Or a established business with years of cash making history. I have a line of credit that I can use for whatever I need for my business weather that's new purchase to roof or parking lot. But that amount is only up to 80% of the value of my existing property. For example a house worth 200k with a mortgage of 100k can allow me to borrow and extra 60k. So I can just take out 60k whenever I need it. But if I sold that house or didn't own it they wouldn't just give me 60k because of how smart or experienced I was. They only loan on hard assets.

What you are asking for is a loan for downpayment or purchase tied to nothing but your smart butt. Also called 100% financing.

Not going to happen via bank period. Hard money, family, friends are only option.