Bounty Hunter turned real estate investor and licensed broker

Bounty Hunter turned real estate investor and licensed broker

Real Estate Agent · Indianapolis IN · Member since 2022 · 51 posts · 24 votes

Hey everyone! Long time listener, first time caller....wait that isn't right haha. 

My name is Kyle Baker and I am a real estate broker in Indianapolis IN. I service all of Indianapolis and the surrounding counties. 

I first found bigger pockets after purchasing my first home back in 2018. At that time I had no idea about real estate investing. I simply needed a house to live in so I bought one. At that time I had a successful career in the bail industry as a licensed Bounty Hunter. I traveled the country looking for bad guys. 

Shortly after that purchase I stumbled across Rich Dad Poor Dad and decided I wanted to become a real estate investor. I started to do some research and very quickly came across BiggerPockets. I read several BiggerPockets books and listened to countless hours of the BiggerPockets podcast. I was able to pull little bits and pieces from each episode I listened to. It's been so long ago now that I can't remember the episode number or speaker but I found my loophole to acquire properties. 

I had a successful job and made good money but not enough to be able to buy properties with 20% down as investment properties typically require. I was familiar with the BRRR strategy and loved the idea but I didn't really have the knowledge base for the rehabs or the time as I was gone on the road (looking for bad guys) 3 weeks of each month. Instead I decided I would buy a property each year and live in it for 12 months. This allowed me to get properties with minimal downpayment ($0 down on my first two as I used a VA loan) as well as better financing terms. So thats exactly what I did.


12 months after buying my first property I bought my second and moved into the new home. I picked a real estate agent who was also a property manager. I proceeded to rent out the first home while I lived in the second. I did this a third and fourth time with each oncoming year. My first purchase was in 2018, second in 2019 and third in 2020. 


At the end of 2021 my wife and I decided to relocate from Charleston, SC back to Indiana to be closer to my family. We purchased our fourth home in Indianapolis leaving us with 3 rentals in Charleston, SC. 

I am now a licensed real estate broker in Indianapolis.


I am writing this post to hopefully help some new investors with a strategy that worked so well for me without costing

a lot of money out of pocket. The other reason is to introduce myself and let everyone know how much I would love the opportunity to help anyone in the area in the purchase or sale of their home. This includes investors. I know the entire midwest is such a HOT market for real estate investors and Indianapolis is no different. 

Please feel free to reach out with any questions you may have. Thank you for taking the time to read this little blurb and hope to hear from you all soon!!  

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Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
3y

having done bizz in both cities I have to say I really love Charleston we were one of the first builders to build across the tracks in charleston I bought my first lot there for 20k and built and sold the house to Shep of southern charm.

we have done a lot of stuff in Fountain sq as well new builds and remodels. plus a ton of rental financing for investors in Indy..

I kept a few rentals medium term in Charleston one on Amherst which was a converted and made it into a 4 plex plus built 2 unit behind it . Property tax's there for out of state though are pretty steep and so we sold and cashed out..  We also did a high end on on New st that was a super fun project.

are you talking about fHA 3% down loans owner occ.. ??  when you bought another did you have to pay one of your old ones off or refi it ?  I was under the impression you could only have one at a time.. but maybe one for wife one for you.

I have a new build coming up in Fountain sq and am looking for a broker ..  ping me if you would like to chat about it.

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  • Nathan GesnerBusiness Member
    Moderator
    Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
    3y
    Quote from @Kyle Baker:

    Thanks for sharing. Where there's a will, there's a way!

    The DIY Landlord Book4.7247 Reviews
  • Real Estate Agent · Indianapolis IN · Member since 2022 · 51 posts · 24 votes
    3y
    Quote from @Nathan Gesner:
    Quote from @Kyle Baker:

    Thanks for sharing. Where there's a will, there's a way!


     Thank you Nathan! That is exactly right

  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    3y

    having done bizz in both cities I have to say I really love Charleston we were one of the first builders to build across the tracks in charleston I bought my first lot there for 20k and built and sold the house to Shep of southern charm.

    we have done a lot of stuff in Fountain sq as well new builds and remodels. plus a ton of rental financing for investors in Indy..

    I kept a few rentals medium term in Charleston one on Amherst which was a converted and made it into a 4 plex plus built 2 unit behind it . Property tax's there for out of state though are pretty steep and so we sold and cashed out..  We also did a high end on on New st that was a super fun project.

    are you talking about fHA 3% down loans owner occ.. ??  when you bought another did you have to pay one of your old ones off or refi it ?  I was under the impression you could only have one at a time.. but maybe one for wife one for you.

    I have a new build coming up in Fountain sq and am looking for a broker ..  ping me if you would like to chat about it.

  • Bruce WoodruffPro Member
    Contractor/Investor/Consultant · San Diego / Phoenix · Member since 2021 · 12k+ posts · 15k+ votes
    3y

    Good story! At least you won't be intimidated by some of these low-life tenants you may end up with..... :-)

  • Joe S.Pro Member
    Investor · San Antonio · Member since 2020 · 3k+ posts · 3k+ votes
    3y

    I read up on bounty hunters sometime back and yes, real estate has been known to be more lucrative. :-)
    Even buying one house a year can make a huge difference. Some people if they can’t hit a home run then they sit on the sideline.

  • Real Estate Agent · Indianapolis IN · Member since 2022 · 51 posts · 24 votes
    3y
    Quote from @Jay Hinrichs:

    having done bizz in both cities I have to say I really love Charleston we were one of the first builders to build across the tracks in charleston I bought my first lot there for 20k and built and sold the house to Shep of southern charm.

    we have done a lot of stuff in Fountain sq as well new builds and remodels. plus a ton of rental financing for investors in Indy..

    I kept a few rentals medium term in Charleston one on Amherst which was a converted and made it into a 4 plex plus built 2 unit behind it . Property tax's there for out of state though are pretty steep and so we sold and cashed out..  We also did a high end on on New st that was a super fun project.

    are you talking about fHA 3% down loans owner occ.. ??  when you bought another did you have to pay one of your old ones off or refi it ?  I was under the impression you could only have one at a time.. but maybe one for wife one for you.

    I have a new build coming up in Fountain sq and am looking for a broker ..  ping me if you would like to chat about it.


     Hey Jay! Thats so awesome about Shep. Im pretty sure a friend of mine is his personal trainer. The same guy trains Danny McBride so I found a way to get on season 2 of Righteous Gemstones. That was a blast!

    I still have one property out on Clements Ferry closer to MP and then another property in WA right off 17 just north of avondale. I will agree with you on the taxes!

    In regards to my financing strategy I was able to do a no money down VA loan on the first property. About 10 months later I purchased my second property with a zero down VA loan as well. I was suppose to have to wait 12 months but was told if I wrote a letter explaining why I wanted to move I could move sooner than the 12 months so thats what I did. I lived in that second home for 12 months and then purchased my third property with a 5% down conventional loan.

    I will send you a PM about the Fountain Square property. Thanks!

  • Real Estate Agent · Indianapolis IN · Member since 2022 · 51 posts · 24 votes
    3y
    Quote from @Bruce Woodruff:

    Good story! At least you won't be intimidated by some of these low-life tenants you may end up with..... :-)


     Haha very true! Ive been through some pretty interesting homes throughout the years. Lets just say i've seen some things haha

  • Real Estate Agent · Indianapolis IN · Member since 2022 · 51 posts · 24 votes
    3y
    Quote from @Joe S.:

    I read up on bounty hunters sometime back and yes, real estate has been known to be more lucrative. :-)
    Even buying one house a year can make a huge difference. Some people if they can’t hit a home run then they sit on the sideline.


     The bail industry can be extremely lucrative if you know what you are doing and in the right state. Unfortunately Indiana is not one of those states. 

    I agree 100% about the 1 house a year thing. Small steps add up over time 

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