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Updated over 7 years ago,
Looking at auction property- Need advice! Evansville, IN
First post here at BiggerPockets!
So, I'm working at getting over my fear of my first buy and hold deal. I found a property on an auction site that appears to look good. Town appears stable, rent is high compared to purchase prices, and the neighborhood looks good. The auction posting has quite a few photos. It's obvious that the property needs some rehabbing. Even factoring in anticipated rehab costs, I still believe that this property will meet the 2% rule.
Here's what I'm hoping you lovely people will be able to help me with:
1. Does anyone have any references for General Contractors and Property Managers in Evansville, Indiana? This house will need a full kitchen remodel, including removing a wall/moving some things around. Specifically, I'm looking for someone who I can meet with in person initially, then coordinate electronically, and then have a final walkthrough in person.
2. Who would you recommend getting a title search from? I am from Vancouver, WA. Is it better to work with a local title company, or a title company in Evansville? Or does it not matter?
3. Am I crazy for buying out-of-state for my first deal?
4. Is there any red flags with Evansville, Indiana, that I am missing as a new investor?
Thank you everyone in advance for any thoughts/tips/comments that you might have!!