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All Forum Posts by: Paul Stout

Paul Stout has started 38 posts and replied 250 times.

Post: Looking for Project Managers and Contractors for Flips in NW Indi

Paul StoutPosted
  • Mobile Home Park Investor / Licensed Indiana Real Estate Broker
  • Chicago Area, IL
  • Posts 262
  • Votes 135

thank you @Sharad M. Am not planning to start my first flip until after Jan 1st so that should work out.  Pam me the contacts if you would please.

Post: Looking for Project Managers and Contractors for Flips in NW Indi

Paul StoutPosted
  • Mobile Home Park Investor / Licensed Indiana Real Estate Broker
  • Chicago Area, IL
  • Posts 262
  • Votes 135

I am looking for contractors and project managers in the Whiting and Hammond areas.  I will only consider contractors and managers with references.  I would prefer to hear from some investors who have used these people and get a recommendation from them.  I will also use a good general contractor if anyone has a one.  I do not have a lot of time to manage a flip so I will have to rely on a general or pm.  Let me know who you have and what experiences you have had with them. 

Post: Looking for Deals in NW Indiana

Paul StoutPosted
  • Mobile Home Park Investor / Licensed Indiana Real Estate Broker
  • Chicago Area, IL
  • Posts 262
  • Votes 135

Any wholesalers out there that have deals in Hammond or Whiting?  If Hammond I am looking in the Hessville and Woodlawn neighborhoods.  In Whiting I am looking in the downtown and Robertsdale neighborhoods. 

Post: Real Estate Attorney NW Indiana

Paul StoutPosted
  • Mobile Home Park Investor / Licensed Indiana Real Estate Broker
  • Chicago Area, IL
  • Posts 262
  • Votes 135

Hello, I'm still looking for a real estate attorney in Northwest Indiana that deals with investors.  I have contacted the one that was recommended to me by an investor.  He has not called me back even after phone calls and emails over two weeks.  I'm pretty sure this is not the person I want to work with if they are that hard to contact.  I would prefer one that is close to Hammond, Whiting, Highland and surrounding areas.  I work in Whiting, Indiana so the closer to ther the better.

Post: What Happens to the Security Deposit at Sale?

Paul StoutPosted
  • Mobile Home Park Investor / Licensed Indiana Real Estate Broker
  • Chicago Area, IL
  • Posts 262
  • Votes 135

Well that makes sense.  Thanks @Roy N..

Post: New Member Video Profile

Paul StoutPosted
  • Mobile Home Park Investor / Licensed Indiana Real Estate Broker
  • Chicago Area, IL
  • Posts 262
  • Votes 135

I just added a video profile (I think).  Come over and check it out and tell me if it worked.

Post: What Happens to the Security Deposit at Sale?

Paul StoutPosted
  • Mobile Home Park Investor / Licensed Indiana Real Estate Broker
  • Chicago Area, IL
  • Posts 262
  • Votes 135

This is all great information folks, thanks for your contributions!!!!  Follow up: Do you have to pay the tenant any interest on their deposit?  If so, wouldn't it be difficult to calculate if different deposits are added to the same interest bearing account at different time?  I know many banks, including mine, have some very confusing compounding schedules.  Would it be better to put each tenants deposit in a separate interest bearing account or combine all deposits in a non-interest bearing account?

Post: What Happens to the Security Deposit at Sale?

Paul StoutPosted
  • Mobile Home Park Investor / Licensed Indiana Real Estate Broker
  • Chicago Area, IL
  • Posts 262
  • Votes 135

I think I understand what your saying @Douglas Davies.  If they credit me then I just have to be sure I have the equivalent in an account should a tenant move out.  Thanks!

Post: What Happens to the Security Deposit at Sale?

Paul StoutPosted
  • Mobile Home Park Investor / Licensed Indiana Real Estate Broker
  • Chicago Area, IL
  • Posts 262
  • Votes 135

Thanks Carlos!

Post: What Happens to the Security Deposit at Sale?

Paul StoutPosted
  • Mobile Home Park Investor / Licensed Indiana Real Estate Broker
  • Chicago Area, IL
  • Posts 262
  • Votes 135

What happens to the tenants security deposit if I purchase a multi family building with tenants already in it.  Do I get those from the previous owner?  Do I have to factor that in as a cost of purchase?  Is there a standard or is it whatever I can negotiate?