All Forum Posts by: Aaron B.

@Matthew Schroeder I was listening, on the radio, to a local government official who noted that Indianapolis had approximately 10K folks move into  downtown area - mainly millennials and empty nesters.   *** past performance is not an indication of future growth.  ***

@Travis Darden, i think you have gotten some great advice. The following is just food for thought. Regardless of the location the numbers are a bit tight, for me. That said, I am very conservative in my estimates but here is what I mean: 118K price; 20% down so your financing 94,400. Your rent is USD 700 per side (total USD 1,400). So your mortgage would be USD 506 on a 30 year term 5 percent interest rate (a guess). So next, minus 10% on Vacancy, CAPex, Maintenance/Repair, Property Management, plus Uncle Sam will want his cut USD 1,100 taxes (guess here also that your property was assessed at 55K), and finally 700 insurances - total guess. You would clear slightly less than USD 100 per side. I think you are also exposing yourself to additional risk using a HELOC. These numbers don't factor in any closing costs and hopefully you would have no rehab/repairs.

@Jenni Moore, welcome to BP. I too moved recently to Indy. My wife and I are looking to invest in the area, so we have spent time networking and getting to know Indy neighborhood by neighborhood.  Please feel free to reach out I am happy to answer any questions.

@Andres Bernal, I am an investor, in the traditional sense, I have a non-RE W-2. 

 I moved to Indy recently and have been researching the market firsthand. I can provide some recommendations, which will help you start your research.  I use @Jynell Berkshire as my lawyer. I think she is very knowledge among law, government, and RE. 

There are folks who specialize in specific areas. I have been very impressed with FS House (@Ryan Mullin and Steve Lehman).  FS House concentrates on the area surrounding DT and are well recognized for their expertise in that area.  As you have probably read Indy neighborhoods can be street-to-street. I think it is great you will come to the market and highly recommend that you do take the time.  The issue right now is low inventory.  

Regarding PMs and contractors - I have spoken with several PMs and Contractors, however, I am not able to provide any meaningful feedback because it has only been cursory discussions. 

Please feel free to message me with any questions. Best Regards. 

@Rhea Jackson, I recently moved to Indy and am actively looking to invest.  I have been working with FS House and I have been very impressed with their professionalism.  I would agree with @Larry Fried what I am experience has more to do with low inventory vice desire.  Feel free to PM me if you have any specific questions.   Happy hunting!

@Justin Perez, welcome to BP.  I would suggest start with education reading and listening to anything about real estate; buy and hold, flips, Lending, etc to determine what part of RE investing suits your interests and strengthens. Feel free to reach out with any questions.  Best of luck.  

@Dante Groves, welcome to BP. I am a local investor and happy go share my thoughts. Feel free to PM me with any specific questions. 

@Romar Lagamo, I am only familiar with the Indy market so I cannot speak authoritatively about the other markets. As I am rather new at investing but speaking from experience I concentrated on one market.  Do to a job transfer I found myself in Indy.  What I will say, when I first got to Indy I thought I was ready to go, bam break out the checkbook I'm in. In reality the more time I spent driving the city and speaking with local experts the more I learned I was not fully prepared with enough knowledge. Example, an area of Indy is a flood zone - seriously this is middle America, but yeah flood area and a requirement to carry flood insurance. I think there is great utility in understanding the "strategic indicator" (i.e. Jobs, population, etc)  but where the rubber meets the road is personal relationships.  

Personal relationships take time to develop. If you are trying to develop meaningful relationships in multiple markets that could be challenging. Even in this education phase, I made mistakes but now I learned how to break into a new market. When I go to diversify my markets I will not, hopefully, repeat those mistakes. Once you select your market I would really encourage you to spend time in that market getting area familiarization.  I am rambling, so if you have any specific questions feel free to PM me. I am happy to share my lessons learned. I have nothing to sell you. 

Also, I think @Trevor Ewen provides some sound advice.  Best of Luck. 

@Matthew Schroeder great article thanks for highlighting.  I saw some people looking around the property the other day, now it makes sense.