All Forum Posts by: Greg Fox

I just bought a lot to build a duplex on. I got my survey back yesterday and the neighbors deck is .4 feet or about 5 inches over the line on my side. My main concern is if somebody would fall off the railing(which is on my side) and sue me. I'm looking for advise on how to handle this. Any input would be greatly appreciated.

I might have one if it isn't the same.  Who did you find that wouldn't cover Hammond?

I use Tim Kuiper from Austgen Kuiper out of Crown Point. I would think they could help you. Good luck 

I sure did ask about more properties. He said he has already sold off all of his properties around here, in Indiana. I know he has at least a few left, but I haven't got the details yet. He lives in Illinois near Chicago. He was saving this property for himself to get out of IL and maybe live half year in and live other half in Florida but has changed plans.

Glad y'all got some value out of my post😜

After 2 months and several obstacles I finally closed on my first rental property. I have been learning as much as I can on here and through several hundred hours of podcasts for about 6 months. I went and saw this duplex the day after it hit the MLS and there were 2 other investors there in the half hour I was. I made an offer $100 over asking price that night because I did a pretty good inspection and knew it was a great buy. They had several full price offers in the first couple days but my extra hundred helped me get it. It's a solid house in a really good location and neighborhood(A-/B+) and still does better than the one percent rule. I wasn't originally planning on it in my initial offer, but after some issues the seller ended up offering financing at better than bank terms! Deals are few and far between around here but I have set a lofty goal of 6-8 more units by the end of the year.

Thanks guys!

I heard on a podcast during the sale to put in writing the value of the land versus the structure to maximize the depreciable amount. In other words we inflate the structure price and minimize the land value over standard assessment. Has anybody out here done that and can tell me how to do it? Is this a legal and acceptable practice? Thanks

Depends on the lender. I have talked to several recently and several will cash out refi right away.