All Forum Posts by: Maurice Blackledge

Hey BP,

I have a tenant that I “inherited” from the purchase of a duplex. One of the tenants has been nonresponsive and hard to get a hold of. They also haven’t signed a new lease or paid rent since I took over the property on Oct 2nd.

There was no prior lease in place, and I am looking to get rid of them. Do I have to follow the standard eviction process, or does that not apply because they weren’t under a lease prior to me purchasing? The property is in Indiana and I’m trying to determine my options.

Thanks all!

@Tushar Shah yes I will PM you my agents info

Hi @Emanuel Ohunwu yes the midwest is great! I went to college in Indiana so im a little familiar with some of the smaller markets outside of indy which seem to be great so far, for long term buy and holds. I did not go in person but had my realtor do a video of the property.

@Bryant Troupe great question! My next step is to learn my local market now that I have moved to Charlotte. I am going to dive into the investor landscape here more. In addition to that, I plan to BRRRR another deal in Indiana that I have lined up!

Hi @Jeremy Goodman thats a good question! I think the biggest lesson among some others was to trust my numbers. There were plenty of times that I "wanted" deals to make sense because I was trying to get my first deal. Knowing my numbers helped me pass on numerous properties throughout the process of finding this one. Had I went for other deals based on someone else's numbers, I most likely would not have had the opportunity to take advantage of the deal I found.

@Allen C Herring I charge 725 for one unit and 685 for the upstairs (smaller) unit

@Thadeous Larkin I use the bigger pockets calculator for that number. I usually budget anywhere between 5-10% a month to account for cap-ex. I plugged in 5 for this deal due to some of the higher-priced items being newer such as the roof. 

Side note - I am from Colorado Springs as well and graduated from Palmer High in downtown springs!

@Alexander Kleyman thank you! Congrats to you as well, that's awesome!

@Shawn Wetwertwertwre Definitely. The real estate agent that I work with knew the selling agent because they are from the same company. The seller was motivated because of his age, he was done with the idea of being a landlord. I was able to give him an offer before the house hit the MLS because the selling agent worked at the same company as my agent. Honestly, it was a mixture of preparation (ability to close on my end), luck (the seller being motivated to sell his duplex for under market value) and the quick ability to act. When I first heard of the deal, I ran my numbers and had submitted an offer to him within about 4 hours. I don't expect to find all my deals this way, but I also made certain that I would be prepared if any deal came up that was worth pursuing. In the end, I think building relationships with people is a big part of success. As people start to understand your goals, you never know what kind of "luck" or opportunity it can open up, you just have to be able to respond. Great question!

Thanks, @Sean Lambert! its in Kokomo Indiana. About 20 mins away from where I went to school.