All Forum Posts by: Stevan T.

@JD Martin hello! How much does it’s usually run you to add a bathroom?

Looking for any recommendations for a real estate minded CPA. I live in Chicago and as of now, I mainly invest in the indianapolis area. 

- Should I look for someone based in Indiana or does it not matter?

- Does anyone have anyone they would refer? 

Thank you for your time!

Stevan

Hello!

I appreciate all advice here.

My partner and I each own a half of a duplex. They have a shared wall, but are separate parcels. We would like to cashout refinance together in a single loan (if possible/logical). One curve ball is our taxes seem not to have been reassessed in a while and are very very low. We are stuck now. What do you all think we should do:

- combine the parcels and just get a bigger loan (total would probably be around 285-300k for the loan) in order to get the cash out (about 40k)

- leave it until the taxes are reassessed (probably 3.5k less then I would calculate) 

- refinance as individual properties

-other option we are not thinking of?

Thank you in advance for your time!

Have a great day,

Stevan

No problem. I bring the real estate information and knowledge of the area. He could buy the house by himself but  right now I have future renters ready as well as experience. Kinda like why would someone put up the money for the house and only get half the cash flow. They do not have desire to actively invest in real estate.

Hello all! Random question. My friend and want to get a property. I know the area and have one rental but not enough capital to acquire the next one. One thought we had was to have him buy it with and FHA loan and live there for a year then start renting. I have experienced that non family members generally can't buy the house together. Someone suggested we write up and agreement and after purchase he quick deeds me half the property. My questions: Is this possible? Is this dumb? Is there a better way to put a low percentage down? Thank you for your time!

Thank you all! I am not interested in doing so but. I was looking at housing near a school out of my state and heard a landlord was buying a flipping houses. Then not letting people rent ones he did not want so there would be less competition. I was just curious if it would be upheld. 

Hello All,

Can you put a do not rent clause in a house title? If so does that stay even with transfer of ownership or a sale?

Thank you everyone! This is great and I feel the community already. 

Hello All,

I am a relatively new investor! I have been in indy for 6 years but lived in Indiana my whole life. I have bought my first house in the Butler Tarkington area and am renting it out. I have done some property management work in the past as well. I am looking to do more buy and holds as well as looking for a good contractor and accountant in Indianapolis (Would LOVE recommendations). I only have one house now and was also wondering what people's views were on using an accountant now or just doing quick books until I have more properties. Last I was curious at what size would I look into forming a LLC.

All advice is welcome. I am excited to be joining such a great group. I have been reading posts and listening to podcasts for some time now and feel like I am learning a lot!