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All Forum Posts by: Mitchell Roadruck

Mitchell Roadruck has started 3 posts and replied 52 times.

Post: New Investor, first Rental purchase

Mitchell RoadruckPosted
  • Lender
  • Northwest Indiana
  • Posts 55
  • Votes 26

@Mikhael Brown Congratulations man! Any update so far?

Post: Recent College Graduate Looking to Invest

Mitchell RoadruckPosted
  • Lender
  • Northwest Indiana
  • Posts 55
  • Votes 26
Quote from @Brandon Kowalski:

Hello All, I am a recent college graduate looking to get into REI and am looking for a advisor/partner to do deals with and take me under their wing. I am eager to learn and have some background knowledge with the industry but still have a lot to learn. I have been looking at small multifamily's in Illinois but quickly realized that with the property tax and interest rates being where they are, it would be hard to make a decent return. This has lead me to looking OOS as I have a solid amount of capital saved up to invest with. I've been considering turnkey (RTR) since I want something more passive as I am working full time in accounting but don't know if it is the way to go for my first deal. If there are any investors that have any advice on how they initially got their feet in the industry or would like to take a rookie under their wing, please reach out to me.

 Hey @Brandon Kowalski, I would consider Northwest Indiana. The rents may be lower than Chicago but the units are far more affordable. Expenses are significantly lower and IN is far more investor friendly. I would also advise you to be open to managing at least your first door by yourself. This will help you understand the process. If you are interested in Northwest Indiana I would love to connect with you.

Post: Indiana Investors Connect

Mitchell RoadruckPosted
  • Lender
  • Northwest Indiana
  • Posts 55
  • Votes 26

Hey! I am an agent/investor in NWI. Specifically Lake County. I’ll send you a connection request

Post: I want working with investors to be my niche

Mitchell RoadruckPosted
  • Lender
  • Northwest Indiana
  • Posts 55
  • Votes 26

Hey @Sam Dorgalli, I think being investor focused is a great business plan. In my opinion being an active investor helps a ton. If you are not actively investing, you are not SOL. Just double down on education and networking (Property managers, contractors, and investors). Maybe hold an REI meet up!

Aside from that, what value add can you bring? Are you more prompt to respond than other agents? Can you put out stats on your local market more frequently? Can you be the knowledge broker in your market? Also Im not sure how affordable your market is for new investors so can you connect local investors with out of state agents?  (Ive gotten a few referral checks this quarter by sending some of my clients out of state and I love em). I hope this helps man! Let's connect on social media.
@MitchRoadruckRealtor

Post: New member introduction

Mitchell RoadruckPosted
  • Lender
  • Northwest Indiana
  • Posts 55
  • Votes 26

Welcome @Josh Zeb! Feel free to sent questions my way, Id love to help any way I can!

Post: Can I please get some recommendations on effective prop mgr?

Mitchell RoadruckPosted
  • Lender
  • Northwest Indiana
  • Posts 55
  • Votes 26

Hey @John Becker

I am an agent/investor in NWI. I can connect you with my recommended property manager in NWI to manage the properties you'd like to hold. 
I would love to interview to list the homes you'd like to sell as well, if you're open to it. 
I will send you a connection request. 

Mitch

Post: How can I get a wholesaling contract?

Mitchell RoadruckPosted
  • Lender
  • Northwest Indiana
  • Posts 55
  • Votes 26

Hey @William Luke Laity, I do not have a wholesale contract but I do want to invite you to a real estate investor meet up in Griffith at Avenue 912 on 11/15 from 6-8!

I know for a fact there will be plenty of wholesalers there to network with.

Post: Newbie here. Need recommendations for marketing my 1st rental

Mitchell RoadruckPosted
  • Lender
  • Northwest Indiana
  • Posts 55
  • Votes 26

@Nadeem Najam as an agent in IN, id tell you the MLS would help but Zillow is your best bet as far as placing a tenant.
How are the photos? Folks wont apply if they cannot envision themselves living in the space. If you have pictures taken on your cell phone that do not show the home well, it may be worth it to get professional photos done (A few hundred bucks) before discounting the monthly rent. If you drop the rent $50 that is -$600. Spend $200 on photos and save the $400.
Beyond that, do you have clear next steps in the listing description? For example, minimal requirements, instructions on how to apply, date when the unit is available, etc?
I hope this helps!

Post: selling home with tenants

Mitchell RoadruckPosted
  • Lender
  • Northwest Indiana
  • Posts 55
  • Votes 26
Quote from @Anibal Mijangos:
Quote from @Mitchell Roadruck:

In my experience you will limit the number of potential buyers by selling a property with tenants placed.That being said, homes are sold every day with tenants placed in them. Id recommend finding a solid agent who know how to market the property as an investment.


 100%. Great advice. 

Tenant-less properties are usually preferred. But they are sold all the time. You never know. 


 Thank you!

Post: Newbie in need of help

Mitchell RoadruckPosted
  • Lender
  • Northwest Indiana
  • Posts 55
  • Votes 26
Quote from @Emily Simmons:
Quote from @Mitchell Roadruck:

Hey @Emily Simmons! Wholesaling is a great way to make money and gain real estate experience at the same time. Outside of wholesaling, would you consider doing some form of a house hack?

Without knowing the details of your situation, the advice I would give you is to either buy a single family primary residence and do a live in flip OR buy a multifamily property and rent the units you do not occupy while you rehab one unit at a time. 

Hey Mitchell,

Sorry I should have given more information. I currently own my own home that is a new build. I have a new family so house hacking wouldn't really work for us. I 've been talking to lenders but I'm just not able to front the 20% down payment yet. 

No worries! I would check out Pace Morby's content if you havent already.