All Forum Posts by: Kurt K.

Lots of questions here. Who is the executor? Does it have to go through probate? I assume there was not a Living Trust document. If you can't work it out between your siblings, you will have to get an estate attorney which could be expensive. Good luck.

Long story how I got into real estate. Inherited properties, but all I am doing now is holding and improving properties and building reserves. 

I have a good PM company and team on the ground which helps. The challenge for me is that I am in AZ and the props are in IN.

I'm debt free and continue to improve my properties and build reserves. Not going to purchase any new properties at this point. Just hold and see what happens.

Another option might be https://simplisafe.com

It is a home security system which has a keypad and you can setup who goes in or out. This would only work if no tenant is living there.

You need to know the area and have a team on the ground that you can trust. My father passed about 2 years ago and I inherited a number of units out of state. When I acquired the properties we had to evict about 8 tenants, rehab the units and get them rented. Not an easy task.

Even though I didn't live there,  I found a Property Management Company which referred me to a number of great contractors. I have been lucky and able to build a great relationship with them and now they can be trusted.

Currently, I travel there twice a year and do walk throughs in all of my units with my PM. I meet the tenants and make sure everyone is happy. 

Its been quite a journey but I love a challenge and I have the termination to make it work. 

Are you going to house hack or live in one of the units and manage it yourself?

Hi Matt,

Welcome to BP. Another city you might consider investing in is Fort Wayne, IN which is north of Indy. I mainly invest north of there in Kendallville, but I belong to a group in Fort Wayne that have bee very helpful. Good luck.

If you were in NEI I could offer a suggestion.

I would say "no". I had an old swing set on a property when I acquired it and one of the first things I did was remove it due to liabilities as you mentioned. Hopefully there is a park nearby where the family can enjoy that kind of activity.

I had some tenants in a unit for about 6 months and then they had bed bugs. They said somehow the bed bugs came in on their own and wanted me to pay for it. 

In the lease it was stated that they are responsible for pest control. They decided they wanted to stay and paid for it themselves.