All Forum Posts by: Noel R.

It was always my assumption that 1st months rent for lease up was just that 1st months rent. Recently I was charged 1st months rent plus the 10% management fee. So the actual cost was 1st month +10%. Curious if this is industry standard or something that will be market by market. My previous PM only charged 1st months rent in same market. The other possibility is the PM software auto deducted the 10% and PM may reimburse. 

Thank you for the feedback.

Realtor.com allows you to search for multi family. You will find duplexes there.

 Would you be willing to share the #'s on this deal? What did it appraise for? What class area is the home located? How did you go about vetting the Turnkey company? Curious what market you live in? I would suggest considering a househack for your next deal as it can accelerate your investing career and not require 20% down like an investment property. 

If you have good deals in Indy you should have no problem selling them imo.

Depends on local market and goals for everyone. If you only had 30K I wouldnt invest all 30K. I would suggest 20-25K all in with 5-10k for emergencies. Even then you are cutting it thin.

Reach out to @Nick Giulioni he has some solid resources. I would also recommend asking your realtor for their recommendation. Nice job taking action on the purchase. 

Join facebook groups. You will find wholesalers everywhere. Now to find a deal.

On the surface this sounds high risk. Are current tenants paying? What is the condition of the units? Do you have reserves to deal with any issues that may come up? Great job finding an off market deal and taking action. Be sure and do some due diligence on the property and the PM. Know that duplexs have higher turn over rates too. What area of Indy?

I do not want to discourage you but please take your time and make sure you know what you are getting. Happy to talk more if you want to message me.

Do not know it personally. Have you found a PM yet? I would start with a local Agent or PM and run it by them.

 THIS! 

Big question is what is your vision for your life? What are you doing now for income and are you eligible for a loan? Do you want to stay in NJ for 5-10 years? These are the questions you need to ponder. "REI is EASY!" Getting out of your own way and taking the jump is what is most difficult. If I was 23, single, had a good job and liked my home town house hacking would be my choice.