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All Forum Posts by: Justin Polston

Justin Polston has started 18 posts and replied 265 times.

Post: Today's Market is not like 2008 - What is everyone seeing/thinking?

Justin PolstonPosted
  • Property Manager
  • Shelbyville, IN
  • Posts 303
  • Votes 160

I just saw an interesting interview that focused on the math behind the assumed correction(s) versus the backlit economic factors. 

Basically the median price of a home needs to be $100k cheaper. 
Take median income level and compare it to median price of a home pre COVID etc rise in prices. 

Take median income level of the here and now and compare it to the median price of a home, and the ratios are out of whack and not sustainable. 

I just enjoyed the math and rationale. BUT, some areas needed to rise and covid jumpstarted that. Simply jumpstarted something already written into the agenda. 


BUT how many places can you name that are due for a crash from the chaotic rise? All of them. 

Post: People dislike rentals because they don't enjoy managing them!

Justin PolstonPosted
  • Property Manager
  • Shelbyville, IN
  • Posts 303
  • Votes 160

@Nathan Gesner It's been awhile since I've jumped on here but trying to make it a habit again (the BP investor friendly lead program literally broke my business in a good way lol). 

I'd love to check the book out Nathan! That's pretty cool. Someone has needed to sit down and take the time to write the nitty gritty stuff. I'm wondering how much of it is general, and how much of it might be related to region to region expectations and even city versus suburban? It still blows my mind how much people don't realize even after they claim to have "educated" themselves and read "dozens" of articles of what to expect when investing in LTR and landlording in general.  

To everyone else on this little thread, even great property managers find failure where others thrive. --I.e, we focus on suburban areas. We don't even step foot into Marion County (Indianapolis). 

@Jorge Vazquez 

@Theresa Harris

@Michael Smythe

@Mackaylee Beach

@Jay Michalec

Post: 1982 called. They want their gas prices & interest rates back

Justin PolstonPosted
  • Property Manager
  • Shelbyville, IN
  • Posts 303
  • Votes 160

That's all.

Post: Indiana Investors thoughts?

Justin PolstonPosted
  • Property Manager
  • Shelbyville, IN
  • Posts 303
  • Votes 160

@Dalton Foote it's nice to see someone actually inquiring about areas other than Indy! I have a ton of posts on some nice suburb areas that aren't at all street by street. You might check into Shelbyville, Greenfield, Rushville, and Franklin.

Post: How hard is it to manage properties?

Justin PolstonPosted
  • Property Manager
  • Shelbyville, IN
  • Posts 303
  • Votes 160

@Jonathan Diaz I'm almost positive this is everywhere. It's law in Indiana.

Post: Need some assistance in a portfolio loan

Justin PolstonPosted
  • Property Manager
  • Shelbyville, IN
  • Posts 303
  • Votes 160

@Scott R. You need to reach out to a larger online lender. DLP actually closes deals. Nothing on 30 year terms though. I'm sure there are others that do.

Post: Anyone seeing a cooling of the market?

Justin PolstonPosted
  • Property Manager
  • Shelbyville, IN
  • Posts 303
  • Votes 160

@Dominic Kosteris inventory isn't necessarily up, but volume definitely is. Meaning we're chewing away at the pent up demand at a good clip relative to last summer and prior.

Post: Building Permits Filled for TopGolf <-Finally Some Progress!

Justin PolstonPosted
  • Property Manager
  • Shelbyville, IN
  • Posts 303
  • Votes 160

@Michael K Gallagher that's how it is here! Go to IKEA for 3 hours while you wait for your spot. Actually, though, it created an entire sub-city of its own. Cigar bars, restaurants, classy outdoor venues. And to Brandon Sturgills worries, large MUDs.

Build it and they will come... them and their housing.

Post: Indianapolis SFH Appliances [What to include/not include]

Justin PolstonPosted
  • Property Manager
  • Shelbyville, IN
  • Posts 303
  • Votes 160

@Andrew Bonar you're spot on. We bend it a bit further by not warranting the appliances (we're not in the Maytag repair biz) and appliances are getting more and more expensive with more parts. We rent as is, we can make repairs at tenants expense, or we can remove and tenant can buy their own and take it with them when they leave.

To drill down further, if you find yourself with a dishwasher, built in oven, over the range microhood combo, pull them. It'll save yourself some trouble down the road when a tenant needs an oven, etc. You can't expect a tenant to supply an expensive item like built-ins.

Post: Will I qualify for loans if I leave my W2 and start a 1099 job?

Justin PolstonPosted
  • Property Manager
  • Shelbyville, IN
  • Posts 303
  • Votes 160

@Reyna Lopez Create an LLC with S Corp selection. Collect income via LLC and pay yourself a W2 via your LLC. Itll save a lot of time and pain.

Otherwise, start having fun with creative financing. Not with traditional lenders. You'll have better luck with private money versus waiting on "hard money" to drag their feet...