All Forum Posts by: Rusty Scott

The long term/macro question is....how many people really ever want to live in an apartment long-term? My guess is that it is very low. 

I just went to the home show in Indy today....what was it still based on? A big demand for large, SFH. And it was packed. A show house that was a 4,000 SF home that was ready to be built in any burb of the consumer's choice.

Every market is different...but outside of a handful of cities in the world that have incredible density....I see no chance that the demand for SFH will do anything but grow.

The recession stopped new housing starts....and we haven't even begun to catch up to what the demand will be for millennials once they really kick into full gear. The multi-family craze makes no sense to me....people live in multi family because 1) they are young (20s) and don't care about anything beyond location or 2) don't have the financial ability to live in SFH.

I'm currently completing the coursework for my license and plan to take the Indiana state exam sometime in mid-Feb. 

I'm therefore looking for a managing broker in the Indianapolis area to work under and hang my license. I have a full time career, so my RE activity will be only part-time to start. I anticipate most of my initial activity to be with fellow investors who I have come to know over the last decade investing in the Indy market. 

Please contact me if you are looking to add someone to your Indy team in the coming months or know of anyone that would be interested.

Thanks,

Rusty

also...at least here in Indy...homeowners are allowed to remove asbestos themselves as long as its a 4 unit or less dwelling.

I Doubt you have any luck getting this owner in trouble 

You have to understand that asbestos is somewhat of a sham. 

One has to me repeatedly exposed to the fibers in heavy amounts....typically over years or decades to cause mesothelioma. 

Welcome Cole....I'm curious what you are looking for that you haven't been able to do find. 

Hamilton cty is the wealthiest county in Indiana, by a large margin...and one of the wealthiest counties in the entire Midwest.

Noblesville is the county seat, and is a bit different than the rest of the county..in that it has a much older history as a town, and is not solely suburban Indy growth....though still is predominately. 

You can find some older homes right in town for cheap, and would be a very stable investment. Your returns won't be as good though as you can find in Indy.

Welcome Dennis. Check out CIREIA...they have monthly meetings in town.

Don't agree. He is still a big time REI...owns a lot of residential and commercial property. He is just a cash investor now.

Of course he's worth 50m+, so not hard to be at that level.

Is it standard practice for the pm to keep the late fee? Seems it would incentivize the pm to place a slow paying tenant. 

I enjoy listening to his show. His investing advice is very simplified and most people who follow his plan will end up in good financial shape. But not wealthy by any means. 

He does actually have a very strong real estate background. He was major real estate investor when he was in his 20s. He built a 7 figure net worth via flips and rentals in a a matter of a few years. The S&L crisis in the 80s caused all his notes to be called. From what I understand he was working with a local s and l, that was bought out...And he had a lot of short term notes. The new bank owner didn't care for what was happening, and called or maybe wouldn't refi his debt.

He was leveraged to his eyes, and slowly lost everything and ended up in BK.

That's why he's so anti debt now. But listening to him he certainly knows the RE biz. His teaching focus is not about that however, and is geared to a different audience.