All Forum Posts by: Anastasia Gamino

Hello Scott-

I have purchased 40k properties in Indianapolis that needed an additional 20-25k in rehab, and this was almost 2 years ago. In our current market, this would be very difficult. That same property now has the ARV of 130k, I just recently refinanced. I would think about using the 40k to take out a conventional loan that might be an easier approach. If you purchase a property that is around 100k with 25 percent down, this would still give you some money left over for some reserves. Just something to think about.

Good Luck!

Jared Shore with Finance of America is who I've had a lot of success with...and I know many of his clients are OOS investors.

@Jay Hinrichs what a great inspirational story!  Thanks for sharing!

@Chris John This is no easy time to be a teacher and it was never easy to work in a wharehouse. We need teachers, and teachers can also be investors and build their wealth on the side! Thank you for all your hard work and yes, I have gotten some of those comments as well! If you are on BP, it is most likely you have or on the path of wealth building! 

I'm a teacher and my husband's a barber.  He moved to the U.S. in his early twenties with no English proficiency and no college education in the most expensive city NYC.  He worked odd jobs 60 to 70 hours a week. Always a great saver.  He took English classes at a community college became a licensed barber and eventually learned e-commerce.  When we got married, he wanted to learn how to invest.  We started this journey together a year and a half ago 5 units and this is just the beginning. We both read and listen to podcasts every day.  It just takes a vision, persistance, and financial literacy. You don't need to be a high income earner to get into real estate!

I think a lot of it would come down to your budget and long term goal for the property. As someone who lives in Indy and invests here, Fountain Square(actual Fountain Square) and Broadripple are pretty pricey now especially duplexes in A blocks of these neighborhoods unless you are willing to do an extensive rehab . I would run the numbers as if you plan on living there for a short period of time and then keeping it as a long term rental property. Do the numbers still make sense? My husband and I initially wanted to house hack a duplex in Indy, but we ended up just buying a primary SFH A/B area, and then bought 2 duplexes in C class areas. For us the numbers made more sense for our budget and our goal of cash flow. If you are wanting an A area, a SFH might be easier to find. Good luck!

Hello, As a CIREIA member,  they are still having their monthly main meetings in-person with a virtual option.  Most of their subgroups have been virtual the last couple of months.  I still gain a lot of value from the virtual meetings, but the networking aspect is not quite the same.

My realtor is an investor himself and works for a PM company.  Feel free to reach out if you are still  looking.  He has an investor's lens.

Great questions David-We are putting 15K in the rehab. ARV will be around 85-95K conservatively. Our rent will be around 900 a month.

Investment Info:

buy & hold investment.

Purchase price: $37,000
Cash invested: $37,000

We are in the process of rehabbing this SFH that has the potential to have a 4th bedroom. We will refinance the money for a multifamily within the next year or two.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Nuparadox-Wholesaler