Deal Analysis - Indianapolis

[Mike Craven]

Hi all,

I have been spending a lot of time on the BiggerPockets forums and am hoping to invest in my first property in the near future. I live in San Diego so I will need to invest OOS with my limited capital. I ran the numbers on the below property and was hoping to hear some feedback. I will not be doing this deal but am interested in the accuracy of my analysis and any other observations you may have.  Link to property -> SF Investment . Assumptions are all attached in screenshots. The biggest unknown to me is the rent prices but $900 seems reasonable for the area after $3,000 in repairs/rehab. My goal is cash flow and plan on my first deal being relatively safe without too extensive of a rehab.

thanks!

[Michael Craven]

Thanks for your input @Robert Leonard! I will most likely go with SFH because of the price point but do understand the safety net that comes with multiple units. If all numbers were accurate in this case, what are your thoughts on this as a first deal with the goal being Cash Flow? Pretty marginal? Thanks!

Hi @Ryan Rominger! I will keep your info going forward as I will definitely be using a PM. With your experience in the area, does the projected rental rate of ~$900 seem reasonable for this 3 bd 1 ba? Thanks!