344% Cash on Cash ROI for Indianapolis Flip

[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!

[Matthew Schroeder]

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

[Mark M.]

Nice work Ben. Keep rockin'

[Brett Snodgrass]

Congrats @Ben G.! Keep it up!

[Jeff Goedeker]

Nice work!

[Darrin Eaton]

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

[Don Harris]

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

[Edward Rhoads]

congrats Ben!

[Camilo Colonia]

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

[Alain Perez-Majul]

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

[Danny Carter]

@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! 

[Ryan Cummings]

@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.

[Shawn Holsapple]

Boom!

Great job!

[Justin Young]

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

[Steve Haight]

@Ben G.

Way to go thanks for posting this great to see!

[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. 

[Bhekizwe M.]

Congratulations on the deal.to continued success...

[Han Oh]

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

[Tony SanFilippo]

Great Job. 

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

[Jordan Shay]

Great job, hope to be in your shoes soon!

[Ryan Mullin]

Sweeeeeeet! 

Thanks for the shout out homie!  

[Wendell De Guzman]

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.

[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!

[Ben G.]

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! 

[Ben G.]

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. 

[Ben G.]

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.