All Forum Posts by: Alex Nickla

Hey Bruce! My name is Alex Nickla and I am a Broker and Investor in Northwest Indiana. Our team has 13 agents and we are located here in Crown Point. Many of us are investors ourselves, so we understand how to work with investors. If we can provide you any value, please feel free to let me know. Also, I would be happy to connect sometime soon as well. Thanks!

Agreed. I’m definitely biased on Crown Point, but it’s an amazing community. The growth  with residential, commercial, and in our downtown is making it a great place to live. All the new restaurants as well as a brand new $35 million, 120,000 square foot health and fitness center with the new YMCA. 10 star schools and easy access to I-65 either way. The property values are great and so are taxes. 

Hey Kristen!


I love how you and your husband are thinking. I’d be happy to help! I am a life long native of Crown Point, IN! Born, raised, and now my real estate brokerage operates right on the square downtown! My team and I would be honored to help.

Just so you know, our team is an investor focused team. Many of us own rentals and investment properties ourselves. I'm in the process of renovating a BRRRR right off the square actually. Would love to talk and help you and your husband!

Jordan,

Thanks you a lot man I really appreciate it! 

My fiancé and I (not married yet, so you're right) own our home and have about $40,000-45,000 in equity at this time. We do have a fairly large income so that has been part of us not house hacking right away because we already live well below our means. But, I have convinced her to house hack if the property is right, so thats something that we are considering with the right property.

5% vacancy is fair for our market for a property like this, but you bring up very good points regarding the other expenses. Thank you!

This property is exactly something I would like, however, I do fear that it would be a lot to take on as my first, even with parter. That's probably just a limiting belief, but I think I would feel more comfortable with 1-4 units to start, and BRRRR'ing into new deals. Thankfully, because we have a solid income we can purchase more deals outside of just refinance money with the amount we are able to save at this point.

I really appreciate your input!

Hey everyone! First post here as a pro member!

My name is Alex Nickla and I am the Team Leader a Group here in Northwest Indiana, just outside of Chicago. I am 24 and lead a team of 4 agents who do about $20 million a year in sales, and I am at a point where I am ready to purchase my own properties and start my portfolio. 

I need some help and opinions on a deal here in my market. It's an 8-unit, amazing location, below market rents, solid building, right in my market. These deals are basically impossible to find in my market. I live in Crown Point, IN and my office is right in downtown. I would love some feedback on what anyone thinks about this deal.

A friend of mine is representing the seller and told me that $615,000 would get the deal done. They're asking $650,000. Market rents for buildings like this are $925-1050 for 2 bed/1 baths. My goal, would be to rehab each unit 1 by 1 over time and get the rents up. Our market has been growing very quickly as suburb of Chicago. Our city doesn't like multi-family, so these deals are hard to come by being so close to our downtown. 

The broker shared this document with me which does a good job explaining the details.

Here is the problem I have. I wouldn't be comfortable at this particular time purchasing the building alone, with $150,000 down plus some rehab costs (foyer, flooring, counters, small cosmetics). But I think the deal has me emotional to find people to parter with because it is so rare to find. By the time I'm done analyzing this, it'll probably already be gone. I am stuck between purchasing 1-4 unit properties (my goal is three this year) that I can by myself or with 1 of my mentors (who has agreed to partner with me) and BRRRR, or syndicating this deal with 3-5 guys.

My long term goal is just buy and hold properties, and I have no intention of stopping. In our market, home value have increased substantially and will continue to do so with so many people moving out of Illinois into NWI. So buying in my market is a good idea. Great schools districts, proximity to Chicago, taxes, low crime, etc. So I just don't know if it makes sense to put this deal together with others, or start with less units and less invested to gain knowledge and experience. 

Any advice on this would be amazing. I appreciate the input and help! 

Thanks,

Also, feel free to contact me if you'd like. I will gladly share my info.