All Forum Posts by: Petru Popovici

For that low huh?
I heard from a few lender that starting Jan the lowest they will really go is about 50k do to regulations..but ill call around
Thank you!

Looks about right. Water and Sewer is covered by the tenats so that's nice!
Anyone know where I can get a loan that small?

I'm looking to purchase a Duplex in Indianapolis, IN and was wondering if anyone had some good property managment companies they've work with.
Thank you!

That's great advice I was planing on speaking to them. Wanna make nice with them so they want to keep the home looking good.
From what I hear the pwner said that the tenats have been there for years and are great and get along with each other great as well!

Just spoke to the owner and the reason he is selling is that he has 2 properties and wants to sell them both to purchase a home for his family.
He is going to provide me rent rolls asap
I confirmed that there was a new heater/ac and roof put in in 2006
And yes the propeties are individually metered

I just started looking at it but will find out more within the next few days.
I know the roof and A/C where done in 2006.
The tenents are current but I will ask him for bankroll to prove that.And as far as them being individually metered i'm not sure but the renters pay there own utlities so I would assume they are. I will ask them that as well. I plan on getting a very extenive inspection and speaking to the property mangement company currently in place, but other then those things anything else I should ask or be aware off?

Ok so I have been on the site for awhile now and ready to dive in and get my feet wet.

I found a property that looks like it makes great sense what are your guy's thought.

The Property is in Indianapolis It's a Duplex one unit is 4 bed 2 bath the other 3 bed 1 bath

It just got nicely rehabbed including new roof about 6 years ago and could maybe use some carpet but that's really about it from what I can see.

It already has tenants in place for $675 and $650. One tenant is month to month the other is in a lease for another year but both want to stay.

The List price is 69k but I think I can get them down to 59k

The Monthly cost:

Total Rent for both units $1325

Debt Service @ 5% 30yr $237

Prop Mang $106

Taxes monthly $83

All Utilities paid but renters incl water and sewer.

Insurance give or take $65

What do you guys think?

Thank you!!!!