All Forum Posts by: Mike L.

Where is this happening? I haven't heard about it.

I agree completely with ALL CASH. I will add that you need to make sure you calculate vacancy loss, taxes, insurance, repairs, maintenance and seriously consider hiring a property manager. You don't want a full-time landlording JOB!

No. I don't keep an eye out up there. I did read somewhere that Hamilton Co. was one of the top 25 fastest growing counties in the nation. Hendricks Co. (on the west side of Indy) is as well.

Mike
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I am wondering the same thing. Let me know if you have figured it out by now. If not....someone HELP!!!

mike
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I am starting to make small HML's to developers and investors and I don't know if there are rules I have to follow. What should I be aware of and avoid? Also what accounting issues should I be aware of as well. Will the income be taxed at a different rate than self-employed income? PLEASE HELP!!

Mike
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Yes Landchasers is a company in Indy. They birddog for investors and oversee rehab projects as well as refer property managers. It is basically a full service company that helps an investor do great deals without putting a lot of time in.

yep..it was definitely an area of town I did not want to live in. But I only had 4k to work with so I had to start somewhere

Well usually I get %90 financed and then spend around 5k on repairs and then refi to get the money back out.

mike
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My best advice would be to find a partner that's making money in your area and offer your cash/credit in exchange for his experience and split the profit 50/50. Half of a profit would be better than taking a loss.

I buy rentals in Indianapolis. I can get duplexes in good shape for less than $50k that bring in $1000 mo. in rent. I use a PM and cash flow $300 mo. on each property. I don't know about a lot of other states. But I do know this is one of the best rental areas I've heard of. I use a birddog to find all my deals and he has investors all over the country buying here so it must be a good market.

mike
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