Archives for: November 2008, 06
Indianapolis Distressed Property: $6,667 Per Bedroom
November 6th, 2008Here's another Indianapolis property that was submitted by a user that we will use as a teaching tool for our Indianapolis, Indiana Real Estate Resources real estate investors. The property address, in case you want to look into it in more detail is: 1524 S Biltmore Ave, Indianapolis, IN 46241.
Since this 3 bedroom, 1.00 bathroom property has an asking price of $20,000, let's take a look at what various offers would mean in terms of price per bedroom. Then you can select the offer price you would like to run further analysis on using the Offer Generator.
| Price Paid (% of Asking Price) | Price/Bedroom |
| $24,000 (120%) | $8,000/bedroom |
| $23,000 (115%) | $7,667/bedroom |
| $22,000 (110%) | $7,333/bedroom |
| $21,000 (105%) | $7,000/bedroom |
| $20,000 Full Price | $6,667/bedroom |
| $19,000 (95%) | $6,333/bedroom |
| $18,000 (90%) | $6,000/bedroom |
| $17,000 (85%) | $5,667/bedroom |
| $16,000 (80%) | $5,333/bedroom |
As you can see from the table above, if you know that rents in Indianapolis can support a certain price per bedroom, you can use the information provided above as a starting point for making your offer. Click on the Price Paid above to start your own analysis on this property using our Offer Generator investing tool.
Have you ever wondered how you can reach thousands of potential sellers in Indianapolis with your own personally delivered message without spending all day on the phone wearing out your voice? The answer is Voice Broadcast. If you're curious about this specialized marketing technique, consider investigating Jassen's CD titled Buying Houses with Voice Broadcast. It may be an eye-opener.
Until my next post,
James
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Tile or Carpet? Maintaining and Updating Your Rental Properties
November 6th, 2008Whether you have just purchased a new rental property and need to fix it up to get it ready for rental, or you are between tenants and are doing the necessary maintenance and repairs, you have probably been faced with the question of what to do with the current flooring.
Hardwood floors are beautiful, but hard to maintain. Carpet is lovely when first installed, but it's not going to look that way when your tenants move out. Personally, I prefer tile as the flooring of choice for my rental properties. Yes, it is more expensive in the beginning, but it more than pays back with its long lifespan. Carpet may be cheaper, but you will probably find yourself replacing it between tenants, which gets to be quite expensive over time.
Additionally, well laid tile can
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