interesed in investing in rental properties?

I can help you find a right property

I have been actively looking for properties for my self. I am specialized in finding rental houses. I have searched and physically visited over hundreds of homes in Indianapolis and surrounding ares. 

Currently I own many properties and they are all rented out with good tetants. There are many things that I can pass on you from my experience if you are looking for a rental property.

Finding a good rental property

  1. Act Fast (good properties disappear FAST - YES REAL FAST! I often see they are gone in less than hours when they  hit the market)
  2. Check carefully when you are in the house on your first viewing (there are many things you can know about the condition of the house while viewing, therefore saving time&money) and be ready to make an offer.
  3. Buy cash if possible, buy a house at good price at a desirable location/condition.
  4. Remember, you will find another good property. Don't make an offer over the limit of your planned budget. Negotiate with the seller WITHIN YOUR BUDGET.
  5. And lastly, may be more important than buying a good property, "FIND A GOOD TENANT." Do not skip the screening process.. you will regret it later if you do. 

Investment

Realtor, Real Estate Agent, Realty Company Service, Carmel, Westfield, Indianapolis, Realtor Near Me

Great Buy and Hold, For example, this house was purchase from Hud, 2016

This house was purchased from HUD for $52,800 in 2016 (built in 2001, 3Beds, 2Full Baths in Perry Township). As the competition was high on HUD properties like this, we had to work quickly with the right price. About $5,000 was spent to fix and update items including a new furnace. 


It was quickly rented for $950/per month. The same tenants have been there since. Net per year after tax & insurance is $8,830 ($735/per month).


Yes, it was a cash purchase. I recommend saving cash and buying cash for investment properties. 

Current value of the house in Zillow is $83,000 (Jan, 2018).

interesed in investing in rental properties?

I can help you find a right property

I have been actively looking for properties for my self. I am specialized in finding rental houses. I have searched and physically visited over hundreds of homes in Indianapolis and surrounding ares. 

Currently I own many properties and they are all rented out with good tetants. There are many things that I can pass on you from my experience if you are looking for a rental property.

Finding a good rental property

  1. Act Fast (good properties disappear FAST - YES REAL FAST! I often see they are gone in less than hours when they  hit the market)
  2. Check carefully when you are in the house on your first viewing (there are many things you can know about the condition of the house while viewing, therefore saving time&money) and be ready to make an offer.
  3. Buy cash if possible, buy a house at good price at a desirable location/condition.
  4. Remember, you will find another good property. Don't make an offer over the limit of your planned budget. Negotiate with the seller WITHIN YOUR BUDGET.
  5. And lastly, may be more important than buying a good property, "FIND A GOOD TENANT." Do not skip the screening process.. you will regret it later if you do. 

What is your strategy?

  • I often hear people classifies properties in class A,B,C. That would be true in some cases, but not always. Finding a good tenant is more important than having a class A property.
  • What is your strategy for investment? Are your looking for a property for cash flow long term hold for your retirement? Are you planning to rent the house until the value goes up and sell it at that point? Depending on your strategy, your investment choice will differ.
  • 1% rule, 2% rule. Have you thought about 3% rule? 
  • 1% rule is this: if you buy a property for $100,000, your monthly rent collected to be $1,000. That is a 1% rule that most investors are trying to catch (if they are lucky in today's housing market). 2% rule is a myth: many investors say 2% rule (for example, your monthly rent is $2000 for $100,000 property) is a myth. They say it is not possible unless the property is a junker. However, Is it true?

Investment

Realtor, Real Estate Agent, Realty Company Service, Carmel, Westfield, Indianapolis, Realtor Near Me

Great Buy and Hold, For example, this house was purchase from Hud, 2016

This house was purchased from HUD for $52,800 in 2016 (built in 2001, 3Beds, 2Full Baths in Perry Township). As the competition was high on HUD properties like this, we had to work quickly with the right price. About $5,000 was spent to fix and update items including a new furnace. 


It was quickly rented for $950/per month. The same tenants have been there since. Net per year after tax & insurance is $8,830 ($735/per month).


Yes, it was a cash purchase. I recommend saving cash and buying cash for investment properties. 

Current value of the house in Zillow is $83,000 (Jan, 2018).

When you choose your property for investment

Look for signs

  • How's the smell? Does it smell musty? Then your future tenants will smell it as well and there will not be much you could do when your tenants complain about it. Musty smell often shows a sign of water problem.
  • Don't forget to check the electric panel. Older homes often have 60 amp (with fuse). It will cost over $5,000 to upgrade to 100 if you use a good company.
  • Check for smoke detectors and carbon monoxide alarm. And check if there are GFCI near sinks - Why? the presence of these items will show the extent of care from the current owner. A small signs for the condition of the house.
  • When you check for the basement, check carefully if there is a bowing or sign of water seepage. It is not easy to fix the problem by yourself though not impossible. 
  • Ask neighbors about the house. Often times they can tell you A LOT about the condition of the house (I always ask the neighbors - make your list for questions)
  • Run the water to check the plumbing (also to see how strong the water pressure is).
  • Avoid houses located deep inside the street if you are looking for class B or C homes. Buy something close to main street if possible.