All Forum Posts by: Tim Lounibos

@Michael Beeman

Damn. Are you clearing enough from the other units and/or have enough in reserve and/or getting COVID stimulus to help cover that loss?

@Michael Beeman

Great on units, sucks on the moratorium. What percentage of your tenants can't make the rent and how are you handling that?

@Ryan O'Connor

This week marks my life-change pivot to becoming a rental property investor. I'll be able to start making offers next month and am spending the time leading up to that point learning everything I can. I'm currently refinancing our primary residence and talked to my loan officer about our plans and that I was looking to the Midwest. He mentioned a client of his who has ten properties in Lafayette which led me to start researching on the BP website (a friend who has quickly become my mentor recommended that I start listening to the podcasts here and exploring the site. I'm a sponge!). I joined yesterday's webinar and became a member, immediately. 

Having read through this thread, it seems that prices have been going up quite a bit so am wondering if I'll be able to find something between a duplex and 4-plex with $80k down (and saving $20k for a cash reserve for repairs, capex, vacancy, etc). I'll research and use the calculators but any insight would be appreciated.  Other areas that someone else on BP recommended were Crown Point, Merrillville, Hobart, Highland and Griffith. Thoughts on those?

I'm also researching in order to put a team together (i.e. real estate agent, title company, property manager, and contractors) and have started saving people's recommendations in a doc file. Not living in Indiana, I'm learning how important it is to find worthwhile service providers who are established and have a solid reputation.

Any recommendations and thoughts from all here are really welcome. Thanks so much and I'll keep exploring. Looking to make my first investment this year and learning and then scaling up to more units. Thanks, again!

Just made the pivot this week and am interested in the Lafayette/NW Indiana area to invest in a multi-family unit and then scale up in the years to follow (because my area makes no sense to me after immersing myself in to Bigger Pockets learning). I'll be able to start investing in about a month so am taking this time to learn as much as possible, first. All of these posts are three years old so am really curious on how things turned out for @Josh Deno and @Lindsey Deno and if @Michael Beeman and his wife have reached the 90-rental units threshold. Would love to hear the achievements and challenges, thanks!

This was a duplicate post and I can't figure out how to delete it. I'm learning (or not)! :P

I'm actually in California and getting ready to start investing in rental property. Want to start with a single multi-family property while learning the ropes and then scale up. Wondering if you guys have recommendations on agents, title companies, and property managers. Just starting out this week and am so thankful to have a mentor in my area (old neighbor) who steered me to Bigger Pockets and I quickly realize that I cannot invest in my area. Would love to connect virtually!