All Forum Posts by: Eric Thompson

@Chris Manteria Did you ever find a solution? I'm currently looking for the same software. Something that lets me track my expenses and income per unit/property with visual charts but doesn't have PM features like rent collection and such. 

I have 30 total units in 4 buildings and the buildium access my PM give me just doesn't do the job for me. 

I'm looking for recommendations for software that will help me track my income and expense per unit but not full blow landlord software. 

I have a PM who manages my buildings so I don't need all the usual landlord features like rent collection and background checks. 

Im really just looking for something that will let me visually track my expenses and income over time per property and per unit. 

My PM provides me with owner access to Buildium but their tools are bad and just report based. 

Anyone have recommendations? 

Can anyone recommend a lender in the Onslow County or surrounding area that provides finds for small commercial office buildings?

I'm looking for some recommendations on local to Seattle attorneys who are familiar with remote RE investing. Another criteria of mine is I would prefer to work with a smaller practice over a larger one.

It might be tough to find but I have to imagine they are out there.

@Brady Pratt I have been reading a bit on MPH investing. Biggest thing I think you didn't mention is understanding the utilities and any upcoming major work that needs to be done. The park basically owns most of the utility infrastructure and thus its your job to maintain. Some of these infrastructures can be massively expensive to fix. 

As an FYI, I would be a very remote owner. And rely on a property manager for the day to day (week to week). 

@Adrien C. Thanks for the insight. The prop I’m evaluating has been held by the same person for 25 years. It’s, in a good neighborhood, very clean property, and has been meticulously maintained.

I’m curious about a statement that I have seen come up on other posts and you just made as well, the headaches of maintaining a D area property. How much weight should I give to the past history if a property being headache free in Gary? My assumption is that if it has been free of headaches in the past that going forward, as long as my property managers keep the same vetting level that it will be mostly headache free going forward. 

@Mark Plesha Thank you for your insight. What I am finding is that there really is no middle ground when it comes to opinions about Gary. Either investors avoid it or they love it. 

I’m focused on the cash flow and building my assumptions based on 0% appreciation. This current deal will have a rent to value of 1.5%. I haven’t been able to find those numbers anywhere else in the country. 

I’d still love to hear others investment plans and strategies when it comes to Gary. 

I would love to hear from people invested in Gary Indiana about their exit strategies. I am considering an investment with a very healthy cash flow with very stable rents. I am a buy and hold investor but will potentially use this property to leverage into a larger one down the road.

My main concern is the exit strategy on this property for if, when, I decided to sell to use the equity to upgrade.

Has anyone experienced issues with selling their property recently? 

What is the anticipated appreciation rate going forward? 

What exit strategy should I put in place for an investment in Gary? 

Anything else I should consider or know?

I have done my research on the area, I am fully aware of the current situation in Gary, their redevelopment plans, and such.

I feel like Gary can go one of two ways at this point:

1. They figure things out, start to turn it around and actually grow. Thus driving up property values. Those investors that get in early will see huge rewards.

2. The government cant figure it out and Gary proceeds for the next 10 years exactly like it is now, at the bottom.

I guess there is a third option in that things somehow get worse for Gary.

Would love to hear thoughts, just not about how much of a "disaster" it is or how "run down" things are or how its "block by block".

@Account Closed Are you investing around Seattle or out of state? Would love to understand what you consider a B class area around here.