All Forum Posts by: Account Closed

Thank you Derek and Christopher. I just wanted to make sure there wasn't some trick to closing quickly that I didn't know about.

When you say you can close quickly - what enables you to do that?  Does that just mean you won't be requiring an appraisal, inspection, loan, etc. so you won't have to wait on that, or is it that you have some relationship set up with a title company where they will get it done quickly for you?  

Welcome @Mark Perrine

I'm in Fishers. Also looking for my first deal. Looking to rehab. I hope we can help each other out.

David

I'm learning that it's typical for property management companies to keep the first month's rent as a fee after placing a new tenant in the property. Yet it doesn't seem like I ever see that figured in the breakdown of the projected cash flow. There is always the 8% or so figured in for vacancy, and about 10% for management, so wouldn't each vacancy also have a fee of one month of rent along with it? And I'm referring to the projected numbers that a turnkey company or wholesaler would provide, for example. If you had a new tenant every year, that would be one month of rent plus whatever vacancy time you had which would be a significant impact on the cash flow. Am I missing this somewhere or does everyone just know to add this in when doing their own due diligence? Or, is it so dependent on the management company that it's not included by default?

I'm 43 and looking to get started with investing in the Indianapolis area. I want to build a portfolio of properties until I'm 60. So I'm just going to say 15 years. Does anyone have suggestions on how you would maximize the next 15 years given the current market? If you were completely wiped out and had 15 years to start over, what would you do? I have about 80K in a heloc, good credit, and a full time job to get started.I want to build wealth the best way possible for when I'm 60. I don't feel like I have time to, for example, dabble in single family rentals and then move to multi, if that's not the best course of action for the time I have. Similarily, I don't want to spend time rehabbing if that not the best use of time. Or, is trying to go too fast a huge mistake? I really envy these 20-something year old people on here.

I know there are a lot of "if this and if that" but I'm just looking to create a 15 year plan and looking for general advice and experience of others. Thank you.

Welcome Shawn. I'm still new to investing and new to this site but I'm also in Hamilton county and would be up for meeting sometime. Maybe there is a way I can help you out, which would also help me jump in the game. David