All Forum Posts by: Kevin Farrell

Lee  - I guess that really is the same delinquent tax = tax lien sales. I just thought that I needed to request a special list from the county. Not looking at Marion county right now but the surrounding counties. Should be similar.

I want to start a mail campaign to contact property owners that are on the delinquent tax list in my county. I am in Indiana and I spoke to the treasurer's office on the phone. The nice lady said "I don't think we can provide that kind of information." I said please ask someone. She came back to the phone and told me to email someone else in her office. I sent the email. The reply came back right away.

I am not able to issue you any type of delinquent tax file. At the county level we are only allowed to provide Mortgage Companies with files to help with escrow accounts. The files are not to be used for commercial use and if they are then that entity will be fined.

If you have any further questions please let me know.

Thank you,

I suspect that the data is still available to the public, but someone in this office is the gatekeeper who will resist these requests. Does this vary by county  in some states?

Any advice on how to approach this office for the list that I want will be appreciated.

Clint, I own a Pest control company in Indianapolis. In a country home that is close to woods and water there are more Bug issues to deal with. I am interested in what someone did for $500 and $250 per month. That sounds too high unless they were charging for travel from Chicago. We would have sprayed the inside and outside perimeter and the crawl space. Since sticky traps were left, someone felt the need to monitor this home. 

Message me if you have questions. 

Nice picture. When I handle these I suit up and quickly put the entire nest in a bucket with a lid. Then I take it home and put the entire bucket in the freezer for 2 to 3 days. From there it goes in the trash.

Do not try this at home without the bee suit. They will hurt you.

I agree with a couple of things already mentioned: DIY or hire someone to do regular perimeter spray in each unit quarterly. When a specific infestation is discovered a more intense treatment will need to be done to bring it under control. It's your building and you should protect it from infestation. The last thing you want is increased vacancy due to pest problems. In the long run, you do pest control for your benefit, not for the tenant's.

Good Luck James. I know that you are stuck in a nightmare. You may also get your local county health department to assist with your case - inspection, verification type support.

James, I own a Pest Control company in Indianapolis. Sometimes I see cases like yours where the landlord does too little, too late. See an attorney. Just a letter from the attorney may be enough to get out of the lease. People are taking landlords to court here and getting judgements for cost of treatment, replacement cost of furniture, etc. The courts here seem to side with the tenant as long as they document everything. Judgements that I have heard about are $5000 or more.

Patrick, thanks. I will ask the agent when I speak to her.

 Hey Zach - you are very perceptive. Yes, in truth the costs are more than 55% of gross but there is room for improvement that current management is not addressing. In this area tenants expect to have utilities paid. That is the competition for renters in this area. With good screening good renters can be found - I know two properties that are in similar areas here that do it.

Yes, the location is a challenge.

Bob - I took the max rent income at 100% occupancy as $3900. NOI estimated like this assuming 55% for maint $3900 X 12 X.45 = 21,060. Then I took that NOI and divided by the listing price of $189,900 to get a fudged CAP rate of 11.1%.

With that CAP rate I used the actual stated current income produced by this property - $2800 to calculate present value. NOIcurrent = $2800 X 12 X .45 = 15,120. Valuecurrent = $15,120 / 11.1% = $136,216.