Evansville IN Investment opprotunity questions

[Christopher Labonte]

Hey there all!

I'm a new investor, and have been looking at properties in and around Nashville TN for about 3 months.  The market seems to be quite hot, and I cant even get a property for the asking price.  Too many investors and not enough properties.  I will continue to try, however and opportunity has presented itself in Evansville IN.  

I'm not planning on managing it, purely for passive income.  I have some questions that maybe the BP community can help me with.

Im familiar with the Nashville area market (enough to invest semi confidently).  The Evansville market I haven't started looking into until a few days ago.  Population growth is flat, as well as income.  Average income is about 50k which isn't terrible.  My issue/question/problem (hopefully from that market will see this) I have no clue what to offer.  The listing agent as well as the property manager both say its high, but also say its renovated (t-minus 0 years aka brand new).  The market has been so flat for so long barley any properties have been changing hands so there is nothing I can compare it with.  Does anyone have suggestions on where I can go from here to find out what a fair offer would be?

[Derrick Powell]

Hey Christopher,

Hope all is well. I live and invest in Evansville so happy to answer any questions and provide any insights possible. I’ve found there is a variety of buyer and seller investing models and criteria. When I write offers, I base it on the performance of the property and my returns desired. The asking/list price isn’t even a consideration for me.  But I also offend a lot of sellers with my offers. Feel free to reach out. Happy investing!