All Forum Posts by: Darrel Plank

This property is located in Indiana. 

Wondering if anyone has any ideas on options for me. We did not renew a tenants lease due to multiple violations. He got upset and decided to sue for an alleged slip and fall from 2 years ago. Now I got a notification my insurance won't be renewed. Anyone have any ideas on what I can do? I don't know of any companies who will take on a property with an open claim. Right now the only thing I can think of is to sell and I definitely don't want to do that. His lawsuit is really flimsy, but who knows when it will get resolved. 

Thanks for your input. That has kind of been my feeling as well. The SFR rental market is pretty strong. SFR rentals do not sit empty for vary long.

Hi y'all, my wife and I are looking into buying a house and turning our existing home into a rental. My dilemma is the market we are looking to move into is extremely hot. Houses are selling at or even a little over asking. We found a house off market that we could buy, put about 10k into it, then create about 10k worth of equity. The market we are looking into has glut of apartments and and the reports I got is they are about 80% filled or less. The question I have is if/how does having excess apartment buildings affect SFR prices? There is excess apartments right now and they keep building more. I know a lot of the SFR people don't want an apartment but if rental prices drop enough to fill the apartments, that has to affect the SFR price right? We only plan on having this house 4-5 years and I don't want to lose money on it is why I ask. Thanks for the input!