All Forum Posts by: Alora Glaze

That is great to hear! I would recommend utilizing social media to your advantage - there are a lot of groups, particularly on Facebook, that are Indianapolis-focused that allow you to narrow in on the real estate investing market and get connected to wholesalers, lenders, and other real estate professionals quickly.

I'd set up an email you feel comfortable providing publicly for wholesalers in particular - vet those you work with and be careful of daisy-chained deals. 

Let me know if I can help point your in the right direction.

Best of luck to you!

We have found that Indianapolis is more of "pocket" investment location - it isn't so much related to the area as it is more street-by-street. Make sure your comps are where you want them (your realtor should be able to assist with running the numbers to make sure the value is there for that neighborhood, if they haven't already). We've been finding that homes are appreciating well within the last 2-3 years on the east-side. Even if you choose to sell your rental property after some time - you should fair well there, too.

Best of luck to you!!

One of our entities operates this way, as an LLC to borrow from hard money lenders, and it makes being able to close on deals quicker since you have the resource readily available to handle these types of real estate transactions. And as mentioned above: it is ultimately the cheaper borrowing-route.
Some hard money lenders are better than others - so make sure you've researched at least a few sources to find which one will work best for your financial situation. Keep in mind that you may not always use the same lender for every investment.

Sounds like you're on the right track to get started!

Best of luck!! 

Exciting stuff! I'm from San Diego originally and moved out of state to make my real estate goals happen - so, I understand about getting your dollars worth outside of California!

Have you taken a look at the mid-west markets?
We assist out-of-state investors primarily within central Indianapolis - our team consists of realty, project management, scopes with contractor estimates and a team of contractors for rehabs/renovations and new builds. We have a system in place to ensure financial security for our clients - just make sure to do you research of the market then find your boots-on-the-ground team to protect your investment, physically and financially.

Happy to help if you have further questions - best of luck to you!!

We work with local and out-of-state investors to manage rehabs/renovations and new builds throughout central Indianapolis. We have handled dozens of duplexes throughout the years and have thorough knowledge of plat splits and when/how to sell.
It is important to get connected to the right team to keep your investment secure with contractors - let us know if we can assist with project management and getting you connected to the right team; or if you're not quite ready, we can assist with scopes and real-cost estimates to get you started.

Indianapolis is a great realty market and there are several areas of interest that would fit your criteria - best of luck to you!!

Its absolutely possible to rehab out-of-state!
You'll want to find a company that can provide you a scope/estimate - finding a local realtor that has experience in realty investment properties will probably be your best bet to allow you to run the comps, find the ARV, and ultimately connect you with contractors who can provide you further insight into what your ROI (return on investment) could potentially be after they run that estimate.
Do your research once you get that estimate to ensure you're getting real-world costs. You'll want to deal with contractors and project managers that have experience with out-of-state investors so you can protect yourself financially.

Best of luck to you!

Our team consistently works with out-of-state investors within the Indianapolis market. The first solid advice would be to have your financing ready and then find a realtor within the area that is familiar with the investment strategy you want to implement. You can do all the research you want, but you'll need to know how to assess comps within the area so you are aware of the true ARV of the property you're buying so you can ultimately increase your ROI.

You'll need a "boots-on-the-ground" team who can protect your investment and ensure your project is moving forward with reliable contractors so you do not sacrifice your return. High risk = high reward. I agree that if you're worried about making a mistake that you've probably done a lot of research and know what to avoid - so your last bit is finding the right team to help you navigate the field.

If you'd like information on some local Facebook investing groups to get some further insight - let me know! Always happy to share.

Wishing you the best of luck!

Jill A. Daly with Regions Mortgage in Indianapolis has 100% financing with no monthly interest - if the seller is willing to cover closing costs and prepaids, then you can typically purchase for very little down, minimum of $500, should you have a credit score of 680 or more.

If you'd like her direct information - feel free to send me a message - she's a great contact to have even if you don't pursue a loan through her directly.

Good luck!

Great information - thank you for sharing!!

I think you will find that, as a new investor starting out, that you will want to put your money into an area with a higher opportunity for a better return on your investment. Starting in an area that won’t appreciate may end up costing you more to repair the property in between tenants causing you to end up loosing money in the end. For your first go in a rental – definitely stay within driving distance until you get the confidence to expand. Make connections with local contractors to see your pricing on rental grade materials – then go from there. Just remember, you get what you pay for – just because a GC is cheaper, doesn’t mean they will provide the quality you need to get your monthly rental fee (check references with previous projects).
Then, crunch the numbers based on the area you're in – making a connection with a local realtor may help you run comps before you buy and calculate the ARV based on what you'd pay to fix it up for a rental.
We work with a lot of folks investing from out-of-state so we know that the best market for investing may not be the area you are currently in – so, consider your options!

Good luck with your ventures!!