All Forum Posts by: Alex Ballesteros

Hey Kevin, what class type properties do you have invested in? Class A - D... Also, would you mind me asking what neighborhoods you invest in & why? Feel free to respond via a direct message if easier. Thanks for your feedback & help. - Alex

Originally posted by @Kevin Douglas:

I’m glad to share my experience, Alex! I focus on indy and own 14 properties, mainly duplexes. It’s a great market if you know where to look.

0 Votes

Hello Wes, i appreciate your input, and sure I’m always available to chat. Send me a direct message!

Originally posted by @Wes Short:

@Alex Ballesteros hey Alex, very true a lot of people from the coasts have found indy attractive for a wide variety of reasons.

Cheaper than coastal markets, better cash flow, you get less appreciation but more stability depending on the property. Also, indy has seen a 9% rental growth in past year so that is a good indication as well!

I work in 5-50 unit multi range as a broker and would love to chat more if your interested.

0 Votes

Hi Juan, your feedback & advice was very helpful in terms of what i should be doing as far as my next step. I really appreciate your help & wish you well. Happy Holidays, stay safe!

Originally posted by @Juan Carlos Gastelum:

Hi Alex. If this is your first investment, please, at least, do the following: first and foremost, make sure you understand the Indianapolis market. You can search on city-data.com or pull out a market/submarket report from Neighborhoodscout.com (it will cost around $30) Second, make sure you run your numbers thoroughly to validate that you can reach your desired financial metrics. You can use the BP rental calculator: https://www.biggerpockets.com/.... Assess getting a fixed rate on a long term loan, with no penalty for prepayment or, in lieu, a step-down method penalty prepayment (try to stay away from yield maintnenance). Ask the agent for the Rent Roll, T12 (trailing 12 months of expenditures and income), copies of the leases and estoppel certificates, current photos and video and make your offer subject to an inspection report (the bank will add another filter by ordering an appraisal). Again, make sure you are being thorough (trust by verify). Hope this helps. Best wishes on your real estate journey!

0 Votes

I am seeking advice/ assistance on what i step i should be doing next in route to purchasing my first multi family property. Please see my current situation below, and feel free to comment & share your thoughts/ advice:

My current situation:

I am a first time investor seeking to purchase my first investment property. I currently have capital built up to purchase a down payment on a multi family property (duplex/ triplex) in the area that i am seeking (Indianapolis, IN). I am pre-qualified for $450,000 conventional loan, and i have reached out to a real estate agent who currently sends me deals via email. I am investing out-of-state, and would be looking to put together a team to help me with the entire process of acquiring a deal, reparations, management, etc. I am also currently self-teaching myself on real estate investing watching tons of videos & reading REI books, and trying to connect/ network with investors.

2 Votes

Hi Brandon, I've personally built capital by working a regular W2 job and putting my money in a mutual fund in a Roth IRA account which has done really well for me. I always max out the yearly limit ($6,000/ yr) at the beginning of the year to let that money compound as much as possible.

I am brand new to REI and would love to hear what people have to say regarding this topic (specifically about the subject of raising with partners).

I wish you well along your journey! - Alex

2 Votes

I’ve heard from different people in podcasts & forums that the market in Indianapolis is a popular place for beginning investors.

Does anyone have any input here? Or any personal experiences you want to share?

I am a brand new investor looking to make my first purchase within the next 6-12 months. I’m looking at out-of-state multi family deals in Indianapolis.

0 Votes

Hi Matt, I am also just starting out in the world of real estate, and seeing this post made me realize to set up a 5 year goal to achieve. Reading thru this post gave me some good insight. Best of luck on your journey! - Alex

1 Vote

Thanks for the feedback Arn. Much appreciated!

Originally posted by @Arn Cenedella:

@Alex Ballesteros

I took Neal Bawa’s bootcamp and it was excellent. Very good. I learned so much from it.

Good luck.

Arn

1 Vote

Has anyone completed the 12-week boot camp from BP on multi family? Or any of the boot camps in general?

I just want some first hand reviews & would like to hear from your guys experience since I’m considering signing up.

1 Vote

What is your advice on using Roth IRA contributions to invest in your first real estate investment property?

Are there any rules or specific information on doing this?

0 Votes

All Forum Posts by: Alex Ballesteros

Alex Ballesteros has started 38 posts and replied 69 times.

Post: Indianapolis Market for Beginners

Post: Indianapolis Market for Beginners

Post: What’s my Next Step?

Post: What’s my Next Step?

Post: How to raise 100k for my first small multi-family

Post: Indianapolis Market for Beginners

Post: Goal to make $50,000/ year in cash flow

Post: Feedback on the BP Bootcamp (Multifamily)

Post: Feedback on the BP Bootcamp (Multifamily)

Post: Do I use my Roth IRA Contributions? What are the rules?