All Forum Posts by: Mark Plesha

Good afternoon @Cardiay Watson, I'm a local agent/investor in NWI, shoot me a message and give me some more details on what you're looking for and I'd be happy to help.

Hi @Anthony Janiga, I'm a local agent/investor, happy to connect and share any of the above.

Hi @Aleksandar Popivoda, first of congrats on the deal! I would give Nathan Vis out of Cedar Lake a call first. He is the attorney for McColly and has his own practice. There aren't a lot of attorneys who specialize in real estate in our market because there just isn't much money to be made from their perspective, but I would try Nathan first.

Quote from @Zeona McIntyre:

Hey @John W., 

Many midwest states are great for Cashflow, like others have mentioned: Ohio, as well as Missouri, Indiana to name a few. Cashflow is a safe bet and yet where you make the most money over time, is through appreciation so I like to look at hybrids markets that can give you both, like Charlotte and parts of Florida. Appreciation is a little tricky to consider at this time as we are likely headed for a bit of a correction, so make sure it definitely cash-flows first and foremost in a way that feels sustainable. 

If you are hoping to squeeze a little more out of the deal, Medium-Term or month to month furnished rentals can often get you 1.5x the market rate rent. These are popular near hospitals. Cinncinatti is a great market for these. Happy to help if you need some guidance. I live in Colorado too and am invested in three states. 

Hey Zeona, I'm not at all saying I disagree with you, but I'm just curious why you think we are likely headed for a correction? With inventory levels continuing to be so low, and most economists beliefs being the fed won't raise rates much over 4% in 2022, it seems as though we are still a long way away from a market shift. Obviously no one has a crystal ball, but it seems like we still have some time for decent growth before we get close to equilibrium. Again, just curious your thoughts!

@George Otiono I live/invest/am an agent up in Northwest IN. Our market is strong for buy and holds, however, inventory is under 1-1.5 months supply in most areas, and it is very competitive. I would definitely consider NWI, and if you need any help or have any questions, feel free to reach out anytime!

Hey @George Otiono, isn't this stuff addicting? Lol. I think I have listened to 90% of BP's podcasts since I started in 2015. Where in Indiana are you contemplating investing in?

@Adrien C. I'll take being "mostly" accurate lol! I do agree, I've seen some pretty high comps lately as well which has been strange. The headache factor was a huge reason why I bought where I did. I don't have a huge portfolio by any means and I've only been doing this for 4 years, but I haven't had a late payment yet, let alone an eviction. I'll take being able to sleep at night knowing my tenants are taking care of my property, the fact that they still cash flow well because vacancy and repairs are so low, and that in 30 years it is almost a guarantee that the property will be worth substantially more than what I paid for it. Just my opinion, but I agree with you @Eric Thompson, I would speak to as many investors as possible and get all of the facts before making a decision. 

I agree with @Ric Ernst, I'm not a legal/tax expert, but when you are just starting out it makes a lot of sense to just take out an umbrella policy unless you have a very high net worth. Although, as Ric said as well, even if everything was set up in an LLC a very good lawyer could potentially prove you somehow pierced the corporate veil through commingling of funds, and the protection via the LLC would disappear from my understanding. I own a couple of rental properties in Northwest IN and have an extra $1mm in liability coverage for approximately $16/month. It's definitely an option to think about, hopefully this helps!

I agree with @Jonathan Klemm, the money spent on rent is in the past, focus on making the best decisions going forward! That's awesome you have saved up enough money for a nice DP, now just don't spend the next 3 years in analysis paralysis like I did before I finally purchased a rental lol. If you are in the position to house hack, I would highly suggest it, I don't know what other strategy would get you to financial freedom or out of debt quicker if that's the goal. I live and invest in NWI and I'm a full-time Realtor, feel free to reach out anytime and I'd be happy to answer any questions about the area!

Hey @Eric Thompson, so I do not own/invest in Gary, but I'm a local full-time Realtor and have lived in NWI my entire life and have a couple of rentals in the town I live in. I think if anyone said with any amount of certainty what kind of appreciation you might expect 10/20/30 years from now in Gary, it would be pure speculation on their part. Gary has been the way it is now for as long as I've been alive. There have always been redevelopment projects going on that always fail because of government corruption within the city. I think most would agree that if you invest in Gary it is purely because of cash flow and there is such a small chance for any appreciation that it isn't really an equity play at all. The only part of Gary where that would be remotely possible in my opinion is in Miller/close to the lakeshore. As I said, I don't invest in Gary, these are just the thoughts of someone with an in-depth knowledge of the area. Would you agree with most of this, @Adrien C.?