All Forum Posts by: Janelle Carlson

My husband and I provide shampoo, conditioner, and body wash in their original containers so people know what kind of brand it is. Some people are allergic to certain brands so we were told it's better to keep them in their original containers to avoid any issues guests may have. 

What mistake didn't we make! I think the biggest one was buying a property with no utilities on. Because of this, we weren't really able to do proper inspections and were just going based off of how everything "looked". This, of course, led to having to replace all the electrical and plumbing... total nightmare and budget buster! We would have either asked for the utilities to be turned on just for the day or asked for a lower price to include the potential of having to replace all plumbing and electrical. 

@Michael J Scanlon We have been having the same problem that is why I was curious. Good luck on your next deal!

Hi @Sean Lindbloom !

I am an investor from LA that invests in Indy. I recommend finding an investor friendly realtor to help you with neighborhoods and streets. It usually varies block by block in most neighborhoods so having a realtor that knows the ins and outs has been very helpful for us. 

@Michael J Scanlon how did the numbers look on the 23 unit? 

@Skyler Southern yes we are using Complete Property Care. We haven't had the best experience with them. There are a variety of instances that have made us very hesitant to continue to use them. We haven't found another that we really like or trust yet so we have had to stick with CPC. What part of Muncie are you buying that you are finding success?

Done! Can't wait to see what the results are.

Hi @Dan Mackin

My husband and I are both 25 and are fairly new to investing. 

1. Our strategy is BRRRRing small multi family and buying turn key multi family out of state. We currently own 11 units and trying to pick up a 14 unit portfolio right now that consists of a 5 unit, 4 unit, triplex and duplex. 

2. We started investing at the end of March of last year. 

3. The biggest lesson we have learned is to do more research. We were really excited and jumped right in to investing without doing as much research of the area as we should have. After buying our first deal, we got even more excited and it felt like we got addicted to it. Because of that, we accelerated really fast even though our team wasn't necessarily solidified. We didn't find the "rockstars" of our area and struggled because of it.

We have learned a lot last year and plan to pick up an additional 22 units this year with all of the skills that we have learned and hopefully expand into larger multi family like 5-20 unit buildings. 

@Alfred Dimartini I have not found one just yet in Muncie. It may also be the season that may be causing delays in renting out some of our units, but hopefully we can fix this soon. 

Hi Matthew,

My husband and I currently invest in Muncie and Anderson. Our biggest hurdles so far have been finding a lender that will lend on this small of a loan amount and the appraisal coming in. Old National seems to be like the best bank to use in this area. They have been the best to work with so far. We are in the process of a refinance with them so we haven't closed on one with them yet. I don't think you will see much appreciation either, but the cash flow is there. We have had some issues with property management as well, but we are starting to fix that problem.  

We didn't have much help when we first started investing here so we stumbled a lot. You definitely have an advantage since you used to live in the area. What area in Muncie are you looking to invest in?

@Michael Barcena Thanks for the update! Interested to see what you hear from the law firm.