Indianapolis Newbie!

[Brandon Borah]

Good morning all. I am a newbie to the sight and have been fascinated with the networking potential and information that is readily available. After I purchased my personal residential property, I fell in love with the thought of real estate investing and after reading many books and attending seminars, I am ready to take the plunge and learn through experience. 

I currently have limited funds, but would like to start with extremely cheap home (preferably under $40K). I realize this will be a 1 to 2 bedroom poor home, but I have a tenant lined up. I have approximately $40K in home equity, which I could possibly use, but want to know further options in regards to financing. Suggestions? I am looking for REO, foreclosures, or any cheap property preferably in the Fountain Square area. Any suggestions or information is greatly appreciated.

Also, as I am new, I would love to attend seminars and meet ups, so if you are aware of any, please advise. Thank you all and happy investing!

Brandon 

[Nick Burrow]

Brandon, 

I follow BP often but have not used BP to it's full potential. In saying that my group is heavily invested in Fountain Sq and some in other parts of Indianapolis. I would not recommend buying a house in Fountain Sq if you only have 40k. Homes built around 1900 have a large opportunity to have extreme hidden cost and problems to an untrained eye.  I would go to cash flow neighborhoods such as Eagledale. I have properties in both FT sq and eagledale for sale. 

Contact me at [email protected] 

Nick