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Updated over 8 years ago, 09/01/2016

User Stats

647
Posts
196
Votes
Ben G.
Pro Member
  • Investor
  • Indianapolis, IN
196
Votes |
647
Posts

344% Cash on Cash ROI for Indianapolis Flip

Ben G.
Pro Member
  • Investor
  • Indianapolis, IN
Posted

I just finished up a flip at 729 Maple LN in Brownsburg, Indiana, a suburb of Indianapolis!

Purchase Price: $57,000 direct from motivated seller. I wholesale the vast majority of my deals and market direct to motivated sellers using direct mail, and online advertising, which enables me to find highly discounted properties.

Funding: A private lender loaned me $57,000 in private money at 12% and 2 discount points secured by a 1st mortgage. Win-win for both me and my network of lenders!

Rehab, Holding, and Closing Costs on the purchase: Roughly $9,000 of my own cash invested

Listed: $116,900 - Full price offer after 1 DOM. Currently waiting on inspection report to comeback.

I have more deals like this in my BiggerPockets Marketplace Thread.

This is my best deal since I began investing 3 years ago.

I felt like sharing it with the community to inspire people to take action! 

Without BP this wouldn't have been possible. Thanks to all of those in my network that have either supported me or mentored me along the way in one form or another no matter how small. These people include:

@Dave Short

@Shawn Holsapple

@Ryan Mullin

@Will Hull

@Brett Snodgrass

@Stephen Barton

@Don Harris

@Wendell De Guzman

and many more I'm forgetting at the moment.  Thank you all!

User Stats

332
Posts
245
Votes
Matthew Schroeder
  • Investor
  • Carmel, IN
245
Votes |
332
Posts
Matthew Schroeder
  • Investor
  • Carmel, IN
Replied

Awesome! Congratulations, Ben!!! I am certain you will have many more successes in your real estate endeavors!

User Stats

52
Posts
13
Votes
Mark M.
  • Zionsville, IN
13
Votes |
52
Posts
Mark M.
  • Zionsville, IN
Replied

Nice work Ben. Keep rockin'

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User Stats

2,041
Posts
601
Votes
Brett Snodgrass
  • Investor
  • Indianapolis, IN
601
Votes |
2,041
Posts
Brett Snodgrass
  • Investor
  • Indianapolis, IN
Replied

Congrats @Ben G.! Keep it up!

User Stats

20
Posts
3
Votes
Jeff Goedeker
  • Rental Property Investor
  • Whiteland, IN
3
Votes |
20
Posts
Jeff Goedeker
  • Rental Property Investor
  • Whiteland, IN
Replied

Nice work!

User Stats

23
Posts
4
Votes
Darrin Eaton
  • Bloomington, IN
4
Votes |
23
Posts
Darrin Eaton
  • Bloomington, IN
Replied

Ben G. Thanks for the inspiration. As a newbie, I really enjoy reading success stories like these. Congratulations on the flip.

User Stats

935
Posts
467
Votes
Don Harris
  • Realtor
  • Charlotte, NC
467
Votes |
935
Posts
Don Harris
  • Realtor
  • Charlotte, NC
Replied

@Ben G.this s when it gets to be really fun!

User Stats

200
Posts
87
Votes
Edward Rhoads
  • Rental Property Investor
  • Indianapolis, IN
87
Votes |
200
Posts
Edward Rhoads
  • Rental Property Investor
  • Indianapolis, IN
Replied

congrats Ben!

User Stats

4
Posts
3
Votes
Camilo Colonia
  • Real Estate Agent
  • Indianapolis, IN
3
Votes |
4
Posts
Camilo Colonia
  • Real Estate Agent
  • Indianapolis, IN
Replied

Fantastic to see posts like these. Congratulations! To this and many more.

User Stats

393
Posts
116
Votes
Alain Perez-Majul
  • Specialist
  • Indianapolis, IN
116
Votes |
393
Posts
Alain Perez-Majul
  • Specialist
  • Indianapolis, IN
Replied

@Ben G. Happy for you, brother! Looks great!

User Stats

100
Posts
23
Votes
Danny Carter
  • Investor
  • Los Angeles, CA
23
Votes |
100
Posts
Danny Carter
  • Investor
  • Los Angeles, CA
Replied

@Ben G.

Hi Ben, 

Danny Carter here. 

Congrats on a great flip! 

I'm a new investor in the Indy market and would love to be added to your buyers list. 

Also, any leads on solid contractors that you wouldn't mind sharing would be great! 

User Stats

8
Posts
1
Votes
Ryan Cummings
  • Indianapolis, IN
1
Votes |
8
Posts
Ryan Cummings
  • Indianapolis, IN
Replied

@Ben G. Congrats, that's awesome!

Would you be able to share what kind of rehab you did?  It sounds like you got a great deal, that property looks very nice.

User Stats

1,325
Posts
557
Votes
Shawn Holsapple
  • Residential Real Estate Broker
  • Indianapolis, IN
557
Votes |
1,325
Posts
Shawn Holsapple
  • Residential Real Estate Broker
  • Indianapolis, IN
Replied

Boom!

Great job!

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User Stats

362
Posts
93
Votes
Justin Young
  • Investor
  • Honolulu, HI
93
Votes |
362
Posts
Justin Young
  • Investor
  • Honolulu, HI
Replied

Huge congrats. I can't wait to be posting success stories like this.

User Stats

732
Posts
137
Votes
Steve Haight
  • Las Vegas, NV
137
Votes |
732
Posts
Steve Haight
  • Las Vegas, NV
Replied

@Ben G.

Way to go thanks for posting this great to see!

User Stats

2,589
Posts
2,142
Votes
Luka Milicevic
Agent
  • Real Estate Agent
  • Nashville, TN
2,142
Votes |
2,589
Posts
Luka Milicevic
Agent
  • Real Estate Agent
  • Nashville, TN
Replied

@Ben G. Awesome post and congrats on the deal.

Just curious-you said you do online marketing for deals. I'm looking into that can you please elaborate on your online marketing. 

  • Luka Milicevic
business profile image
Middle TN Home Alliance
5.0 stars
16 Reviews

User Stats

1,534
Posts
253
Votes
Bhekizwe M.
  • Bulawayo, Zimbabwe
253
Votes |
1,534
Posts
Bhekizwe M.
  • Bulawayo, Zimbabwe
Replied

Congratulations on the deal.to continued success...

User Stats

71
Posts
29
Votes
Han Oh
  • Laguna Niguel, CA
29
Votes |
71
Posts
Han Oh
  • Laguna Niguel, CA
Replied

@Ben G. Awesome, love it! Beauty of creative financing =)

User Stats

195
Posts
76
Votes
Tony SanFilippo
  • Real Estate Investor
  • Littleton, CO
76
Votes |
195
Posts
Tony SanFilippo
  • Real Estate Investor
  • Littleton, CO
Replied

Great Job. 

They should all be like this, if not other competing investors are paying too much ;-).

User Stats

18
Posts
8
Votes
Jordan Shay
  • Noblesville, IN
8
Votes |
18
Posts
Jordan Shay
  • Noblesville, IN
Replied

Great job, hope to be in your shoes soon!

User Stats

575
Posts
495
Votes
Ryan Mullin
  • Real Estate Broker
  • Louisville, KY
495
Votes |
575
Posts
Ryan Mullin
  • Real Estate Broker
  • Louisville, KY
Replied

Sweeeeeeet! 

Thanks for the shout out homie!  

User Stats

2,188
Posts
1,911
Votes
Wendell De Guzman
  • Investor
  • Chicago, IL
1,911
Votes |
2,188
Posts
Wendell De Guzman
  • Investor
  • Chicago, IL
Replied
Originally posted by @Ben G.:

I just finished up a flip at 729 Maple LN in Brownsburg, Indiana, a suburb of Indianapolis!

Purchase Price: $57,000 direct from motivated seller. I wholesale the vast majority of my deals and market direct to motivated sellers using direct mail, and online advertising, which enables me to find highly discounted properties.

Funding: A private lender loaned me $57,000 in private money at 12% and 2 discount points secured by a 1st mortgage. Win-win for both me and my network of lenders!

Rehab, Holding, and Closing Costs on the purchase: Roughly $9,000 of my own cash invested

Listed: $116,900 - Full price offer after 1 DOM. Currently waiting on inspection report to comeback.

I have more deals like this in my BiggerPockets Marketplace Thread.

This is my best deal since I began investing 3 years ago.

I felt like sharing it with the community to inspire people to take action! 

Without BP this wouldn't have been possible. Thanks to all of those in my network that have either supported me or mentored me along the way in one form or another no matter how small. These people include:

@Dave Short

@Shawn Holsapple

@Ryan Mullin

@Will Hull

@Brett Snodgrass

@Stephen Barton

@Don Harris

@Wendell De Guzman

and many more I'm forgetting at the moment.  Thank you all!

 Great job Ben!

$40K+ profit is not bad all. You're an inspiration to the BP Community. I am sure @Joshua Dorkin and @Brandon Turner will agree.

BTW, if you need funding or any help on your subsequent deals let me know.

User Stats

322
Posts
238
Votes
Stephen Barton
  • Real Estate Agent
  • Indianapolis, IN
238
Votes |
322
Posts
Stephen Barton
  • Real Estate Agent
  • Indianapolis, IN
Replied

That is incredible Ben! You are doing such a great job. It is an honor for me to know you and for us to share ideas from time to time. Way to go!

User Stats

647
Posts
196
Votes
Ben G.
Pro Member
  • Investor
  • Indianapolis, IN
196
Votes |
647
Posts
Ben G.
Pro Member
  • Investor
  • Indianapolis, IN
Replied
Originally posted by @Don Harris:

@Ben G.this s when it gets to be really fun!

I don't know about that @Don Harris it was quite stressful managing all the contractors, but I guess that's part of the flipping game.  I know flipping is a shinier object then wholesale and looks good on TV, but I must say I don't envy full time flippers! 

User Stats

647
Posts
196
Votes
Ben G.
Pro Member
  • Investor
  • Indianapolis, IN
196
Votes |
647
Posts
Ben G.
Pro Member
  • Investor
  • Indianapolis, IN
Replied
Originally posted by @Stephen Barton:

That is incredible Ben! You are doing such a great job. It is an honor for me to know you and for us to share ideas from time to time. Way to go!

 Thanks Stephen.  I appreciate the support. 

User Stats

647
Posts
196
Votes
Ben G.
Pro Member
  • Investor
  • Indianapolis, IN
196
Votes |
647
Posts
Ben G.
Pro Member
  • Investor
  • Indianapolis, IN
Replied
Originally posted by @Luka Milicevic:

@Ben G. Awesome post and congrats on the deal.

Just curious-you said you do online marketing for deals. I'm looking into that can you please elaborate on your online marketing. 

 I have a website to generate leads and do PPC. PPC is getting quite competitive and expensive so I don't know how long it will last.