All Forum Posts by: Account Closed

@Palmer Thomas The increased demand by illegal immigrants makes sense, but I think it’s not even close to the heart of the problem. It’s a small dent compared to the effect of prolonged artificially low interest rates, and the hollowing out of American middle class jobs.

I own a rental in the Indianapolis area, and I’d like to move into it. In Indiana am I allowed to break the lease, and if so how much notice does Indiana require?

@Brian Caulfield Are you close enough to the property that you can be there at a moments notice? I’ve heard managing a D class property is a full time job. Not very passive at all. I’m a long distance investor and won’t touch them for that reason.

@Dan Tran All red Cities are a good bet. I saw a documentary about Arkansas being the absolute easiest for landlords to evict.

 So far so good. The first one is going through it’s first turnover as we speak. A young family with one child lived there and they were good tenants. After a Few thousand in paint and other things it will be rented for $1025. That’s up from $775 just 2 years ago.

The second one is in a rougher neighborhood and the first tenant wasn't that great, but luckily didn't do much damage and didn't renew. We now have a tenant that's a better fit for the property. He's a disabled veteran and his rent is covered 100% by section 8 and the VA. He's paying $884 up from $750 2 years ago. It looks like he's happy and will stay awhile. It's all about matching the right tenant to the right property.

@Mike Hasson Man talk about a big change

@Eric Sebast I pay 10% that’s the industry standard. 30% is more in line with vacation rentals.

@Jay Hinrichs I bought 2 SFR's cash in Indiana. One in 2019 and one in 2020. My original intention was to BRRRR but I never got around to the refi. Call me a simpleton but the feeling of owning 2 cashflowing assets free and clear outweighed the fact that I was getting a smaller return on investment. With the way everything is going I don't plan to pull equity any time soon. I'm grateful to be able to sleep at night knowing tough times are ahead.

@Rudy Ferrara idk if it’s agents that are behind the hostility. My agents network with wholesalers. They’ll add their commission into the sale. I bought my Indianapolis house this way. The wholesaler he knew gave us first look before he sent it out to his buyer’s. I bought it, and my agent added his commission on top. Win win

@Champ Leong glad to see someone else gets it. You’re going to spend the money anyway might as well get a 2% rebate on every penny. All my cash sits in a money market account earning interest where it belongs. It’s also a lot safer to use a cc to protect against identity theft. Dave Ramsey says it’s stupid because it makes us spend more. He’s obviously never met me lol. There’s nothing that makes me want to spend money trust me. Mastercard loses money on me every month.