All Forum Posts by: Shankar Sridhar

Hi @Andrew Sargent, how is your investment doing so far? How are finding the suncoast property management? Any red flags? 

Hi @Joe Homs, thanks for your inputs.

Last time when I spoke to him, he hinted about 20-30% down. He want's the market price. Didn't mention interest rate, but he wanted whatever income he is getting from this property currently at the least. The main thing concerning seller is early pay down. He does not want to pay capital gains for quite some time. He himself is in early 70s. So want's to defer as much as possible and also does not want to take up any further repairs in this property. 

Another thing concerning me is how to realize the equity gains if I cannot sell it or refinance it later.

Hi @Jake Andronico, this parcel has two properties. one is a quadplex and another is a 2bed SFH. He is looking at roughly 1.8 to 1.9M (based on his realtors)

Hi, I have been talking to a seller who has hinted about selling this property via owner financing because he wants to avoid capital gains as much and does not work to further handle this property. It's a 4-unit property(4*2/1) with under market rents and needs lot of work acc.to Seller. 

The property with current rents might give about 5600. 

Seller wants about 4500$ in monthly payments. Even if I structure it somehow to initially pay him only 2000$ a month(until rehab), adding property taxes, insurance and reserves(25%), I am not cash flowing in current state.

On top of it, in seller's words, it needs lot of rehab, which I don't have lot of experience nor money. Plus he needs about 20% in down.

Is this a good deal? Or am I missing something to make it work?
Of course , bringing in a partner with some more money and expertise would help, but I don't have anyone currently.

Hi @Jake Jaenicke, congratulations! How much did your rehab cost ? 

Following. I don't see any major con outright. Lenders and other experts, please shine some light!

 Thanks Nathan, yeah, I will be ready with funds if they end up asking for those one day.

Hi all,

I bought a property at Indiana in Dec 2021. I see that homestead exemptions and 65+ exemptions are still being applied to my property for my 2022 tax bill. 

Having bought the property in 2021, I thought, the exemptions would go away for 2022, as I completely owned it during this period and used it as an out of state rental property. 

The only difference in property tax assessments for 2022 vs 2021 is my assessed value which went up from 64k to 105k roughly under homestead category, which instead should be assessed as other residential property, I believe. 

While it's a good thing that these exemptions are reducing my property taxes(ha ha ), I am wondering if I have missed anything while I purchased the property ? I thought the exemptions would automatically go away for 2022.  Should I do anything now?  I just don't want any legal ramifications later. 

Thanks for any insights :)

Any recent podcast he mentioned about this market ?

 Thanks! As a newbie, its definitely tempting to run behind crazy cash flow and sub 100k properties, but I think I need to shift my mindset early in my investing journey to avoid the problems you mentioned!

Hey folks,

I got my first property last year at Indianapolis in a Class C area. (Glad to have done it esp. after which interest rates started shooting up crazy!). 

Meanwhile, I have started to study the town closely and want to keep my buy-box focused on Class B properties after hearing many investors claim that they are tired of its problems despite its better cashflow, esp. being OOS investor.

I know places outside 465 loop are generally considered Class B, like Avon, Plainfield etc. Any other growing markets around Indy you have observed/invested at? 
Looking for some more info from fellow investors who have had success with Class B markets for buy-and-hold rentals.!