All Forum Posts by: Jay Bhatt

@Sharad M. Yes this is a manufactured home. You are correct about the tax assessed value. I sincerely apologize for unintentional typo. I mixed it  up with the other property.

Hey BP community,

A freshly renovated house in Hobart Indiana is for sale in a great school district area.

Northwest Indiana is a booming market with constant infllows of new tenants commuting to Illinois for work. 

Here is a BP post and news articles about NWI market.

Why Northwest Indiana Rocks!

NWI housing market remains strong

Northwest Indiana Housing Market Stays Hot

This  3 bedroom, 2 bath property has been renovated. 

- New Hardwood Floors

- Updated Bathrooms with new toilets and flooring

- Less than 3 year old Furnace

Below is the analysis based on numbers.

Asking price: $74,900 ( Comfortably below market value and Zestimate)

Tax Value: $94,000

Property Tax: $2100

Rent: $1000 ( Conservatively speaking, Ideally it can easily go for $1050 or above even)

Vacancy: 5%

Repairs:5%

Cap Ex: 5%

Property Management:8%

Monthly Cash Flow: $554

CoC Return:9%

You can see photos and additional details at

3037 Huntington Avenue Photos and Details

Note: Owner Financing, Lease Purchase and Land contract options available.

Please feel free to reach out with any additional questions.

Hi @Chris Adams, Can you post the update? Kind of curious how did it turn out. Thank you for sharing your progress so far.

@David Nacionales @Rick P. @Paul Stout

My partner and I are flying out there from Nov.5 to Nov.8. We have a property under contract that we hope to close on Nov.6. This is going to be our first property . It is not a turnkey though. We buy below market, may require $2k to $2.5k rehab with tenant already in place.

I have spoken to Rick and Paul. Great guys.  Paul has provided some much needed useful insight about the market. I can't thank him enough.

I am looking forward to meet them. Hopefully, scheduling works out for everyone.

@Adam Cherko 6:00 p.m. Checkout the following link.

https://www.meetup.com/Yonkers-Real-Estate-Networking-Meetup/?scroll=true

@Adam Cherko November 3rd.

@Brian Burke Cannot thank you enough for providing such a wealth of information. 

@Brian Burke Thank you for your reply.I am planning to invest in multi family syndication deal as a sophisticated investor. I use following resources but struggling to get latest and most updated data.

Population Migration: http://www.governing.com/gov-data/census/county-po...

I try to look through US department of labor website.

For data and demographies, https://datausa.io/

However, I am sure experience investors use more sophisticated tools and resources that may not be known to newbie like me.

Kindly suggest more resources if you can.

@Brian Burke I am a newbie in this arena. 

Two questions. 

1. How do you evaluate market  if you are an out of state investor?

2. How do you determine cycle of that market? What parameters should I look for?

@Kumar Paj  Congrats. Who are you working with for property rehab?