All Forum Posts by: Simeon Miller

Tammie,

Your seller had excepted my offer in writing to my agent on these properties all he needed to do is sign the paperwork. We gave him 48 hours to do so, after 49 hours you request 48 more hours!! I backed off the deal when you requested more time assuming you had other buyers and I wanted none of that. Did you even send my offer to your seller?

I would recommend connecting with the Fort Wayne REIA on FB. https://www.facebook.com/group...

@Vicki Roy is a great investor friendly agent.

Are you planning on building a new building?

Also I would recommend joining the Fort Wayne REIA Facebook group.

Hey how’s it going I have been investing in Fort Wayne for about a year and have been using open door rentals and real estate. Their main office is in Auburn Indiana which is an 20 minute north they also have a Fort Wayne office. They have been great! Vicki Roy is who I have been working with. Here is their website https://opendoorrandr.com/

I used to run a landscaping business in Fort Wayne less than a tenth of my clients had irrigation systems, and they were all in the upper class areas of town. I would not have them in my rentals in Fort Wayne just another thing to maintain. They are considered a luxury in that area!

I agree with Drew.

I would get quotes to get it fixed and figure that in on your rehab costs. It is not worth it

Yes the county assessor’s office should be able to give you an accurate quote. Allen County Indiana does charge extra on rental properties. I just got mine refinanced and consequently a new  appraisal, shortly thereafter I got a reassessment notice from the county. So from my experience they go off of the assessed value until it gets appraised for more. If I were you I would figure on paying taxes on the purchase price if you are paying more than the assessed value.

Let me know if you need a PM in the area I have been really happy with mine so far.

@Jordan Lucas

When I was 18 I didn’t go to college because I was running a landscaping business that was my life and passion. After about 15 years of doing that I got burned out and tired. Long story short I now have a wife and two kids, a full time job only make 66% of what I should be, going to school full time, developing and out of state buy and hold business, as well as an other side business. It would have been much easier at 18.

I am almost done with my marketing degree and the deeper I get into it and look at home listings I realize how many agents lack marketing skills. As an agent you are not only a salesperson but also a marketer and communicator.

Can you do it without a degree? Yes, you can but I would highly recommend it. You could also self educate but a degree plan is well rounded and will teach you thing you wouldn’t even think to try to learn.

@Mitch Casey

The out of state market I chose was the area I grew up in and lived till a few years ago. I knew a couple of realtors that I trusted and used in the past and the home I ended up with was an off market deal that one of them brought me. The biggest thing was finding a good PM. I joined a REIA FB page that was local to that area.

If I were to go to an out of state area that I do not have a history with I would probably start with researching areas that I have family in that I would probably be traveling to anyway. If the area has good job demand and growth, if so I would then see if it could meet my goals for cash flow and NOI. If that all checks out I would work on building a local team.

I’ll be honest even with people on the ground that I trusted it was still nerve racking at point for my first investment.