All Forum Posts by: Jim C.

@Michael Barbari- That's what I've been doing for the last 15 years... Buying properties that need lots of work, rehabbing them, and then renting them out. I've been looking and bidding on several other properties for a few months now, and they all seem to be selling for way more than they are worth (newbie investors paying way too much). That's why I thought that I could sell some of my PIGS (Ben's Term) and hold the cash for a few years and then re-invest it. My last property I bought was last year for $17,000. I put about $4,000 into it and it rents for $850 a month. The realtor says its worth about $80,000. Now that's crazy! Talk about appreciation!  That's a lot of months of rent to hold on to! 

@Michael Barbari- I thought about this.... But why would I overpay for more properties when I could wait a few years when the market tanks again and then buy? All the properties I've looked at buying recently have had multiple offers and are selling for way more $$$ than their worth.

With the prices of Homes in my area at very high prices, and most houses on the MLS under $100k going under contract in 15 days or less (some with multiple offers) I'm thinking it might make sense to start CASHing in on the gold rush. Some of my houses that I bought back in 2007/08 for $30-$40k are worth 80k - 90k right now according to a realtor that did a BPO on them. Now for the dilemma: If I sell these, where do I put all that $$$? Any thoughts?? Am I missing something and should just hold on to these?

Hi @Cecilia Gonzalez.    Welcome to BP! I too have several buy and holds in the Schererville, Merrillville, Highland, and Dyer Areas. I would be glad to help in any way I can. Please let me know!

I too had a tenant ask about running a daycare out of my rental property. I spoke to my Insurance agent who said " No way" due the additional liability unless they are willing to take out their own business liability policy and name me as an additional insured. I decided against this due to the tenants not being able to afford that additional insurance. I would check with your Insurance Agent and get their advice. 

@James Wise. Ok. I found another one... Would anyone care to use "These Services"????

How about the "Silence of the Lambs"??? I bought a place a few years back that had a closet with a slight cutout near the top of the door that had steel bars on the cutout and a sliding barrel lock.  (See picture- closet in back right corner of the bedroom)

@David Szymczak

 - Please put me on the list. I'd welcome meeting everyone currently involved. Thx!

@Derek Lacy : Thanks again for all the info! Is it ok if I call you to discuss further?

@Derek Lacy : Thanks for the Info! Is the general liability policy a set price no matter how many properties are under it? I assume that you can state the amount of liability like 1M, 2M, 3M, etc?