All Forum Posts by: Jynell Berkshire

In the event you are not aware in the City of Indianapolis/Marion County, effective July 1, 2020, Landlords are REQUIRED to provide tenants a "Notice of Tenant Rights and Responsibilities". The Notice MUST be included in any new lease agreement or addendum thereto. 

Although the 2020 Indiana General Assembly Session inserted language in Senate Bill 148 prohibiting the City of Indianapolis from adopting such ordinance requiring the Notice, Indiana Governor Eric Holcomb vetoed SB 148 on March 25, 2020. As a result, Landlords are required to provide such Notice to tenants.

Given the controversial nature of this issue, I fully suspect that this landlord-tenant matter will be introduced again during the 2021 Indiana General Assembly by landlord representative advocates in which to enact legislation which would outlaw Indianapolis/Marion County’s local ordinance. Sadly, until then, landlords will be required to provide such Notice to tenants. Failure to do so, could lead to a monetary fine.

If a landlord is found to have retaliated against a tenant in response to the tenant’s exercise of his/her rights, a landlord now faces a penalty of $2500, or $7500 for a repeat offense. These are the maximum monetary penalties allowed under Indiana law.

Happy Investing!

-Jynell

INDIANAPOLIS INVESTMENT OPPORTUNITY - 11 Tenant Rented SFH Property Portfolio for Sale. Can buy one or more properties or the entire package.

If you are interested, send me PM. Looking to move these fast!

Prashant,

Indiana does not require an attorney to close any real estate transaction in the State of Indiana, unlike other states such as Illinois.  

A majority of purchasers merely work directly with the title company throughout the entire process. However, it is still recommended, especially for out-of-state or international purchasers, who may not be familiar with the laws of Indiana, to consult a real estate attorney. But again, it is not required. Totally your preference.

Happy Investing!

Has anyone ever dealt with Hasley Lender LLC for private financing? I posted an inquiry in the marketplace well over two weeks ago looking for private financing for a client.

Client engaged Hasley, Hasley took money upfront for closing fees and now demanding more closing fees. Sounds fishy.

Appreciate anyone's input. Thanks.

Have a client looking for private/hard money financing for Indianapolis commercial project. Prior financing just fell through. Need $85,000 for a closing.

Please contact me at (317) 752-1276 if you have an interest or have any contacts. 

Appreciate it.

Aaron,

I have a great real estate CPA! He has been helping me for well over ten years now. Feel free to PM me for details.

Thanks Aaron for the mention. Appreciate it.

Have an awesome weekend :)

Morgan,

I highly, highly recommend Dick Peck of Stewart, Peck & Hueston, LLP (http://sphtcpa.com) in Anderson, Indiana! Dick has been my CPA for well over 10 years and is extremely knowledgeable when it comes to real estate. Believe me! I have had some complicated returns in the past that only a skilled real estate CPA like Dick could have figured out. It took me years to find someone like Dick and I will never leave, no matter the cost. Finding a good real estate CPA is hard to come by and can make or break you.

Dick also has assisted a number of my international clients with tax issues, including helping to obtain ITIN. So he is understands how to work with global real estate investors. He can communicate via Skype or other technology. This is how I link my international clients with him. Dick's CPA firm also have tax planning and bookkeeping services. One-stop shop. PLUS, he is very reasonable priced. Got to love that as well :)

Feel free to contact Dick and let him know I said to contact him. Truly a great guy.  

Hope this helps :)

You cannot use the MIBOR form unless you are a licensed real estate professional in the State of Indiana and a member of the Indiana Association of Realtors. The MIBOR form is copyrighted and strictly monitored for those who are not authorized and granted permission to use. I would strongly advise not using the form unless you meet the above requirements. 

I also would advise not using a template that you find online as there are certain Indiana statutory laws that must be included in the lease agreement to be valid in the State of Indiana. Most templates online do not comply. 

Welcome Justin to the BP community. 

Wealth of knowledge and information here. Am confident you will find BP worthwhile.