All Forum Posts by: Adam Oldham

 In most markets with buyers and sellers not in equilibrium on price, what unique strategies and methods are you using to find and create extra value on your deals? A few that came to mind for me that I have heard over the years 

1) Measure the property sqft, sometimes the sqft recorded at the county is incorrect, and you can find additional sqft which will raise the value 

2) House additions, if the cost to build the addition is less than the value returned, you can create extra value here by adding on sqft

3) Find houses with say 1200sqft that only have 2bds/1ba, knowing that 1200 sqft is pretty big for only a 2bed house, there is likely a third bedroom you can add easily that will raise value.  

4) Rezoning to a more favorable zoning that is more valuable to develop 

5) Assuming VA or FHA loans with a lower interest rate

Let me know what additional strategies you use to find more value in your deals! 

I came across an article today that was one of the top stories on Yahoo. It focuses on the increasing number of real estate investors in Indianapolis and how they're outbidding retail buyers. According to the article, around 5% of the properties are being bought by investment companies, leading to concerns that regular homebuyers are being priced out of the market.

• 1) Do you think this could become a long-term issue, given that the current percentage of investor-bought properties is relatively small?
• 2) Are large investment companies like BlackRock contributing to a potential decline in homeownership?
• 3) Is this a trend localized to Indianapolis, or is it indicative of a broader national issue?

Would love to hear your thoughts on this.

https://finance.yahoo.com/news/blocked-wall-street-homebuyer...

Check this website out for code violations https://data.indy.gov/datasets/IndyGIS::indianapolis-code-en...

@Guisselle Martinez I would try to find houses that are run down or owners who are in a distressed situation that would need to sell to a wholesaler. These leads could be found multiple ways, driving for dollars, looking at county records for abandoned houses or houses that have a repair order request from the city, finding owners who are going through foreclosure, divorce, probate etc.  Hope this helps!  

 Hey @Seth Nichols congrats! If you are leaning towards a fix & flip I would suggest finding something closer to where you live. Not that it can't be done but I think it will be easier to manage. I do think Josh brings up a good point if you can pickup another house using conventional financing with 3-5% down that could be an opportunity even if you put some sweat equity into it and sold it a year or two later. 

@Francisco MilanI would recommend seeing if you can look at the permits filed in your city and see if the blueprints are attached to the permit file. Sometimes if you see a house you like you can look at their drawings and then bring those to your architect to give you a good starting point and hopefully save a little bit of money when getting plans put together. But in general I think online plans are a good starting point but depending on the jurisidiction there may be other requirements needed that those plans don't offer, so usually better to consult with a local architect. 

Look forward to hearing how the deal goes, I've always thought hostels could be a good source of income. 

Hey BP,

Need to check out a property but can't make the trip? I've got your back! I take photos, videos, and even 3D Matterports of homes so you can see them from wherever you are. Easily check-in on the progress of your renovation.

Listed below is an example of a Matterport I've done during a renovation: https://my.matterport.com/show/?m=JeQgDPSvJ88

Interested? Reach out to me for pricing or more details.

Best, Adam

If I am doing the BRRRR method I will invest in better paint such as the Emerald line or super paint. Generally speaking on all of my projects I spend the extra money on good paint because I feel like the cheap paint always fades quickly especially being outside and the Emerald series paint is thicker and does a good job at hiding micro imperfections so it hide sections where the drywall wasn't completely sanded or has swirl marks.

@Lisa Grey I am putting numbers together for a new build currently in Indianapolis. My contractor was going to charge $20,140 for the water/sewer connections assuming we do not have a shared sewer lateral with a neighbor, if we do then the cost will be a little shy of $40,000 since they will have to cut open the street and tap into the main sewer line. Hope this helps!