All Forum Posts by: Tim Sutton

Thanks, do either of you have someone that you would recommend? 

BP, I have an issue that I wanted to share with the network to gather some advice. I have a tenant who is several months behind and I would like to get her out of my place ASAP. Should I get an attorney involved? What type of notices should I enforce? Any help would be greatly appreciated. 

Thanks, 

Tim

@Brie Schmidt@Crystal Smith

I've decided to pass on this deal. The seller did not want to finish the basement until after the appraisal was complete which led me to believe that no permits were pulled. Also, for future references; should I only offer an amount that supports the zoning even if there's an additional unit bringing in income?

@Federico Gutierrez yes, all units have their own furnaces and meters

@Brie Schmidt thank you for sending this over Brie. 

Hey BP,

I'm looking at a 3 unit that's officially zoned as a two flat. The cash-flow looks good if I'm able to rent out the basement unit. Does anyone have experience with this type of situation; should I buy the place and try to get the zoning adjusted or should I walk away from the deal? Any help would be appreciated! 

I would agree. A lot of those neighborhoods are class D and the property taxes are relatively low. Good cash flows but probably not much appreciation. 

Well good luck with everything man! 

I would look into the 5% conventional owner occupy loan. I think this would be a very cost efficient low money deal situation for you. Also PM Eric Sharaga, he has a few owner financing deals that require very little money down. 

@Jim Tannehill

Hey Jim, great insights about NW Indiana. I'm actively looking to expand my search and investment scope as well. Can you PM me and we can exchange contact info and schedule a time to chat. I'd love to hear from you!