All Forum Posts by: Jordan Thompson

I will post updates as I go. Thank you for you support but its an honor to serve.  

Good afternoon and happy NEW YEAR,

Recently purchased a Brick duplex (3bd,1.5ba & 2bd, 1ba) for $29k  approx one hour north of Indianapolis, Indiana and I am very satisfied with the deal. My experience entails of minor home repairs and assistant to my father growing up installing cabinets, hardwood floors, and tile jobs.  I am currently in aircraft maintenance and am fairly handy when it comes to repairs and troubleshooting problems.  This is our second property, our first was a turnkey triplex.  So below is the questions I have.

1. The duplex currently has baseboard heat. I would like to retrofit a high-velocity A/C & Heating system.  Whats the cost for creating two separate systems to keep the utilities separate? or Is it not cost effective to swap this out?

2. I already purchased Jay Scotts-estimating rehab costs and I am very happy with my purchase.  However, the duplex is in my home town and I am currently Active Duty Military overseas so I will be outsourcing the work.  My idea is to create simple contracts for jobs (i.e Contract for: CONTRACTOR Address:### Street,City, State Task:TASK Description Cost:$XXX.XX) for each task to get exactly what I expect.  Is this a smart decision?

3. I am in search of a mentor to have one on one communication with who is familiar with the Midwest market. 

Thank you for your time and Happy Holidays,

Jordan

My intent is to Buy and Hold.

Just to piggyback on this. I am currently stationed in Europe serving with the Air Force and I have purchased two properties (duplex and triplex) from 4000+ miles away with never seeing the properties.  I spent hours researching and had numerous contractors appraise the repairs to come up with an accurate rehab cost. Gave a power  of attorney to a property manager to sign in my place and had the units rented out almost immediately after rehab all from a kitchen table in Europe in my down time. 

The only benefit in people not investing out side of their area is less competition for me.  The world is open for anyone these days with internet.

I have visited the properties when I went home on leave and I can honestly say the only regret was I didn't start sooner.

This is something that has been on my mind I'm glad someone asked.  I was also thinking banks wanted to get houses off there books by the end of the year.  I am currently negotiating a deal in Madison County.  Hopefully Christmas comes early and my offer is accepted.

What is the outcome?

I am currently active duty military from the midwest.  From my service the biggest lesson I have learned is always find someone has been in these boots/shoes before.  Find those people with similar views and learn from their past and go to these people for advice.  Long story short I am looking for a mentor.   I currently own one triplex and want to expand my investment portfolio.  

Good Afternoon,

My wife and I are new to real estate and our number one goal is creating legacy to pass on to our children.  We currently have one triplex in central Indiana. It does have positive cash flow but looking back it wasn't as good of a deal as we could have found.  

We are always looking for the new investment properties to expand our portfolio.  My main goal from this site is to find a mentor to help guide my decisions on this new path.  

Here is our obstacle we are both currently in active duty military so we have to hire a property manager for all our investments. 

Thank you for your time,

-Jordan & Amanda