All Forum Posts by: Adam Oldham

For an ARV of 200k I would look at Riverside.

@Jameson Sullivan very insightful what are some of your biggest problems when finding triple net leases for your clients?

STR/MTR market is pretty strong I would generally say from my experience doing STR most of your bookings will come from the weekends. Indianapolis hosts a lot of events so people travel into town for all sorts of conventions.

MTR market is also strong as we have a lot of hospitals downtown as well as traveling professionals who need furnished housing. 

We hope you can join us for our meetup on Wednesday, March 13th at InnovateMap -1002 Broad Ripple Ave #201.

This event is a great chance to meet & mingle with real estate investors and like-minded entrepreneurs. We will be giving presentations on how you can leverage AI in real estate. 

@Mathew Morford I would probably lean towards accessing a HELOC if you can get favorable terms. What I like about the HELOC regardless of whether you use it or not is that it doesn't cost you anything to have(besides a nominal setup fee usually) but then you are able to use it at your discretion. Second, if you sell your current house and tap into that equity you still have to buy another house for your primary which seems like a lot of work, you're going to be buying both houses(primary & rental) at higher interest rate than you bought your primary in 2021. Third, you probably have a great interest rate that I would not want to give up unless a screaming deal came along.

If you can access 30-50k from your HELOC you should be able to put that as a down payment on another investment property, just don't forget to factor in this extra payment in your ROI calculations for the rental.

Like others have mentioned that seems pretty cheap but if the area is good and there are no major renovations or deferred maintenance(e.g. old furnace, water heater) that would be cost prohibitive to you in the first few years of owning it, it seems it could be a good opportunity. 

I would try to price the home at a price that makes sellers excited to purchase your house, oftentimes agents may list the home at a price below what they actually think it will sell for so they get multiple offers and then do a highest and best which usually results in reaching your expected sale price or sometimes more. The worst thing to have is a house on the market for a long period of time because like others have mentioned it does get stigmatized, buyers think maybe something is wrong with it etc. So I always recommend trying to price aggressively so you have multiple offers which equals multiple options for you to pick from and you can get the buyers to bid amongst themselves for the house which is a good problem to have :) 

In my experience I have usually found it better to not hire a GC and just get the labor directly, oftentimes the labor is a little cheaper and you get better quality work & turnaround from a crew who is specialized in that trade. When it comes to a lot of the punch work or final touches on the inside I think it is advantageous to have a 3-4 person crew who can knock those things out quickly. 

I think there will be an increase in sales, rates are dropping and inventory has stayed stagnant due to sellers and buyers not coming to an agreement on price, but I think later this year people will be able to pay more for that same house or investment because of the lower rates. Not to mention some commercial notes are going to come due. 

Join us for a fun holiday meetup to talk all things real estate!