All Forum Posts by: Josh Danna

Currently all of the quotes that I have received have been between 25-30k. 

I have a house that has some active knob and tube wiring still in the house. I have been gathering quotes to update all of the wiring and update the panel but the quotes are coming out a lot higher than I was expecting and budgeting after talking to a few fellow investors. For reference, the house is 1250 sqft of living space on the main floor with unfinished attic and basement. Does anyone have any recommendations on electricians that they have worked with in the past for similar projects or ideas on ways to break the project into pieces to make it a little more financially palatable? 

Thanks in advance for your thoughts and help!

I just recently bought a property in Indianapolis that was a duplex that was re-zoned by the previous owner as 2 separate single family homes. Unfortunately, I lose some of the benefits of house hacking since it is 2 mortgages and I need to pay taxes on both units and one side doesn't qualify for the owner occupant deduction for taxes (although the overall numbers still work). For closing, I also needed to get separate insurance policies for each side since they were single family homes.

I am trying to figure out the best approach moving forward since I am just starting out and wanted to know if I can (or should) try to combine the insurance policy into a multi-family policy and if I should look into combining the mortgages to one loan on the property that I am currently living in. Not sure if there are tax benefits that outweigh the costs of keeping things separate between the the rental property and the side that I am living in. 

Hi fellow BP members, my name is Josh. I finally decided to take the plunge into home ownership this year after getting tired of throwing money away renting. I moved up to Indianapolis recently and just bought my first property (Duplex) on the Near Eastside. Planning to implement the "stack" approach that Brandon discusses to add to my portfolio over the next few years. 

Looking forward to connecting with other members on the forums and in Indianapolis. Are any meetups still happening in the Indy area this summer or are there virtual meetups for the time being?