All Forum Posts by: Rodney Kuhl

@Mayank S. Yes, we do have a rental in Little Flower. Ours is on Wallace Ave, which as @Ryan Mullin states above, is east of Linwood and in the part of Little Flower that is a littler nicer, is more homeowners, and has some higher comps. We have our 2 bed, 1 bath, 1-car detached garage, unfinished basement, fenced in backyard, and central AC unit house rented for $725/mo. I would say that is probably higher than most houses of the same characteristics that you'd get in that area, as this house was a nice little gem with the school literally in the backyard. I generally think Little Flower 2 bed you are looking $625-675 conservatively, so I'd think a 3 bed would be $675-725 conservatively too.

I think a 3/1 on the "westside" of Little Flower could probably get you that rent range that you are looking for. Ryan would know that a little better than me.

@Grace Wang Not an area I'd want to buy in.

Possibly a fair assumption, but you just never know. I agree on the 5% vacancy being a concern for sure. I wasn't trying to say you were wrong or anything - hope it didn't come off like that. Just saying there is probably more info we'd need to know in this market to help.

@Grace Wang I think what other people are saying is relevant and all. But they also do not know the location of this property (neither do I). To toss out generalizations about what the property would be like to own isn't fair. As @Mike D'Arrigo says, multifamilies can be tricky in Indy, but that doesn't necessarily mean that the right property in the right location wouldn't work. Verifying the numbers and getting others' opinions is always a good idea, though. It would be helpful to provide more information regarding the location of the property. If you don't want to provide the exact address, you could at least provide the street, closest intersection, neighborhood, etc.

@Alan K AumanI do not know. Have never asked. PM me and I can send you his info.

@Vic Ryckaert If you have 3 rentals, you most definitely are NOT maxed out on conventional mortgages. You just need to find a different lender. I have a lender who will go up to 10 mortgages.

Sorry to hijack the thread for a second there @Michelle T.! Stick with it. Sounds like a good educational experience, and thanks for sharing! I also use Derek Lacy for insurance and would highly recommend him. Best of luck!

Do you own this in your name or in an LLC? How many properties do you have? I've found these questions to matter a lot when looking to do a cash out re-fi.

 I've had success in neighborhoods close to downtown. We are more buy and hold investors with some wholesaling mixed it. We own properties in Fountain square, bates hendricks, Emerson heights, little flower, and lawrence.

Welcome to BP, @Joseph Leonard! I'm also a Fishers resident but invest in Marion County specifically. Happy to answer questions you may have.

@Chris Martin Great advice. We definitely discussed things ahead of time, and I'm hoping it can continue to be a mutually beneficial relationship. So far so good!