All Forum Posts by: Dan Perrott

@Evan Manship - sent you the detailed info in the colleague request.  Let me know if you have questions.

Rents are 875-900 per side for the area.  Great cash flowing properties.  I purchased both in foreclosure - one of the properties was even boarded up before we renovated it. 

@Ryan Watson  - Welcome Ryan.  Indianapolis is a great place to be for RE investing.

@Brett Snodgrass - Brett - send me a PM about the local groups.  I would not mind getting hooked into the groups.   I will send you a colleague request so you can share. 

I own 2 duplexes in NE Indianapolis in the Castleton area.  Both are great money makers.  Duplexes are in high demand in the area but if you can find them at a decent price, they have great potential.

@Jake Sharpei @Marcia Maynard  I will look into the Allure vinyl planking.  I have used the wood based floating floors but I know that they scratch and when they get standing water, they damage easy.  That is why I am looking for a product.  Thanks for the info! 

Question - is the Allure like laying the other wood planking products?  I have laid 1000's of square feet of this but have had some damages that I had to repair.

In all of my kitchens, I have laid commercial hardness tile that is basically indestructible and has done great for me.  But it is very labor intensive to install.  With me personally laying the tile, it cost me an average of about $1.35 sq ft laying 1 foot squares (cost of my time is not included)

I maintain all of my own properties and I was wondering what flooring others use.  Ultimately I would like the cheapest flooring that would last the longest.  I use ceramic/terra cotta flooring in wet areas but I am more concerned for other areas - living rooms, bedrooms, hallways and stairs.  Any recommendations?

@Vina Guichard 

Welcome!  You've pick a good city to invest into.  I live and own multiple rentals here.

I offer to let tenant break the lease if they remain responsible until I put another tenant into the unit.  That means that I would not loose any rental income.  It's a win-win.  I have never had a tenant have a problem with this agreement.  I don't have issues renting my units - usually have a new tenant with 10 days of listing the property. 

Note that I put this lease break agreement in writing with my outgoing tenant because I can't legally sign another tenant until the end of the current lease. 

I have done this at least 3 times.

We try to make sure that all occupants together have a minimum of 3x rent.  When they are married, it seems that this is fine but when they are not married, I up the minimum standard higher - 4-5x together.  Ours is dependent on credit and background.  Another thought is to up the security deposit for an additional month.

I started with this book -

 Landlording: A Handymanual for Scrupulous Landlords and Landladies Who Do It Themselves by Leigh Robinson  (Jul 7, 2014)

It has good all around information that can be used in most cases. 

I used chrome on another machine to get my pic uploaded.  IE does not seem to work.