Fix and Flip off Ralston Ave in Indianapolis

[Jacob Messer]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $169,900
Cash invested: $33,000
Sale price: $257,000

This project was a great wholesale contract provided by Mainstay Property group. The Investor made out like a bandit on this one.

The house had great bones and minimal issues with it. The scope consisted primarily of the basics; flooring, new bathrooms, appliances, backsplash, landscaping, and some framing and drywall to open up the kitchen. This project was fairly straightforward, and like most of them we were in and out.

Note: for some reason the picture of the kitchen corrupted :(

What made you interested in investing in this type of deal?

We love projects that come from Mainstay Property Group because they wholesale good deals.
Good deals means the house doesn't suck and the investor makes money.
When that happens we're happy.

How did you find this deal and how did you negotiate it?

We were recommended to the investor and closed the deal with him

How did you finance this deal?

I believe the investor used hard money

How did you add value to the deal?

We created and executed the scope of work

What was the outcome?

Everyone made money

[Tchaka Owen]

@Jacob Messer - there's one area in which we are going to disagree: IMO, this is a solid deal, however I do not agree that the investor made out like a bandit. The numbers are exactly as needed, ie, when all is said and done, the investor should net around $33k (give or take). That's not making out like a bandit, however it's a very nice deal.

That said, I have nothing but good things to say about Mainstay! Even though I'm not in the Naptown market anymore I've maintained contact with them because they are above-board. They've put together a nice operation, are very smart about how they do business and I wouldn't hesitate to recommend them.