All Forum Posts by: Harvey Levin

As interest rates rise what will the impact be on properties purchased at the low returns current market? Will values decline due to hire borrowing costs? Example: If a deal makes sense at 4.5% interest rate to purchase at 1.3 million what would make sense at 6%? If values drop will there be an issue with lenders calling loans as they did in commercial buildings in 2008?

In any market if deal makes sense do it . If a deal doesn't then walk away. There are always deals to find in every  market . Some times it is easy and sometimes it is hard. The number one thing to remember is to be an investor not a buyer.

They are our number one choice for our closings!  Great service.

@Account Closed as you said.. you dont know who Morris Invest is nor the details of the fraud. While of course it is a buyer who should always do its due diligence that doesn't negate the fraud . This is probably the largest RE scam in Indiana history so far and it continues to continue . 

@Account Closed

I agree with Mike about avoiding the older converted SF and will add to avoid the older very large 3 bedrooms in lower income areas.  I do have a lot of success for myself (since  my 1st double  in C class  area bought in 1980 and still own. )  and for our management clients with 1 and 2 bedroom doubles.  Triplex and 4 plex have a different set of criteria and are more location sensitive.

@Keith Shadle  as we discussed yesterday, the VOUCHER amount may be 1200 but that includes more than rent and each tenant may be approved for a different amount. VOUCHER MAX is on line for each Housing Authority.  As far as rent increases , each Housing Authority can have a different policy on rent increases. In Indianapolis it may be applied for 1 time since the LAST rent increase of if the tenant is in 1st year after 10 months. Rent increases are based on market comps and if the rent currently is more than the market comp it can be lower. When doing market comps all amenities are used to compare with the units. @Johan Hultman Your PM needs to fight for that increase as something doesn't sound correct. Also the HAP contract must be in YOUR entity name before you can request an increase as the sellers contract ended the second the deed was transferred.  Finally it is important to remember that your tenant does not have to agree to the increase so make sure when you sign the contract (which requires a 1 year lease) that there is an amendment in place that if the tenant will not agree, or if the increase is denied, that the lease reverts back to a month to month lease. This way the tenant can  apply to Section 8 to move out.  

Also be aware that in Indiana, as well as most states , if your LLC is from a different state you must register in the state you actually "do business in" (property is located. Failure to do so will make your legal standing personal in the event of a lawsuit..

@Steve K.  Do the actual calculations as a cost vs value . 

As a Property Manger we take on new clients who have bought properties in very method possible. In my opinion there is no right or wrong way to purchase. It is all a matter of what as an Investor your specific needs are. Once you understand that, (risk tolerance, your active involvement, your cash or finance availability, you knowledge of construction, investing, market data, your trust in the team you have developed and vetted) you can then look at the best way for you to purchase. I have seen great purchases in all areas, TK, Realtors, Wholesalers, FSBO and on and in. I have also seen really horrific purchases in all of those areas. Become educated in the market you want to invest in by visiting and meeting and interviewing the "experts" in all aspects of purchasing. OR, watch a few YouTube videos produced for self promotions and write a check and then pray t all works out!!! Always remember that whoever you purchase from or hire is trying to make a profit as that is why they are in business. They deserve that profit if the provide you a value. Just make sure they are providing true an correct information and what you think you are purchasing is what you actually purchased . Also make sure that the numbers make sense to return the profit you are expecting. Lots of investors are very happy with each type of provider and lots are very unhappy. The responsibility is on the investor to do their homework.

Come visit  Indy..we are a very friendly city!!

@Steve   I am a very strong believer in solar power. W all have experienced getting into a car on a very sunny but cold day and felt the warmth. That is solar at its most basic form. However, on the same cold day with no sun and heavy clouds the car is still cold .  The issue we have in Indiana is the number of heavy cloud days vs Colorado or California. It has been used in some areas here for electricity but the mass amounts of panels that I have seen would be to much in a residential location due to zoning restrictions. In a larger industrial application there is room for large quantities of panels and they work fine. If you visit Indianapolis you will see a solar field very close to the airport. New technology is invented all the time so I am sure there have been improvements but they still will need the sun to produce the energy. 

@Steve K.undefined