All Forum Posts by: Anastasia Gamino

I agree with the low entry price point, high cash flow, and the growth of the downtown area which can possibly lead to appreciation in the near future.

Michelle I live in Indy and own 2 duplexes. One in the near Eastside and one in the near Westside. I think alot of it would depend on  your comfort level. Please DM if you want to discuss certain streets or neighborhoods. 

I think the Hawthorne area is a great place to invest and would consider it C class. It's bordering all the action in Central State where new homes are starting at 250k. I agree with the posts it varies by neighborhood and street.

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $55,000
Cash invested: $80,000

Duplex- It had some fire damage in the kitchen, so were weren't able to obtain a loan from the bank. We had to quickly act and find ways to pull the cash together!

What made you interested in investing in this type of deal?

An area where we knew we could get long term tenants since it is a family friendly neighboordhood.

How did you find this deal and how did you negotiate it?

MLS- we negotiated by eventually offering 55K cash instead of our original plan of using a conventional loan and paying 65K. Original asking price 70K

How did you finance this deal?

Cash and private money

How did you add value to the deal?

We were able to create a functional 3rd bedroom.

What was the outcome?

We will be able to refinace shortly and reinvest all the money we put into the deal. We are currently receiving rents of 1500 a month.

Lessons learned? Challenges?

Be creative! Don't be afraid to get small loans from family and friends to help fund your deals! Sometimes it's easier to get a small loan from them to fund a distressed property than a conventional loan.

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

Diego Hernandez

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $40,000
Cash invested: $60,000

Duplex, needed HVAC, Water Heaters, Furnaces, and some siding

What made you interested in investing in this type of deal?

On the border of a hot location! Rehabs across the street for 300K

How did you find this deal and how did you negotiate it?

We found it on the MLS

How did you finance this deal?

Cash

How did you add value to the deal?

We made this property habitable again! It was empty 3 to 4 years prior to us owning it!

What was the outcome?

We are able to pull all the money out through refinancing it!

Lessons learned? Challenges?

It was our first deal! We built a team as we went! We learned newbies are better off keeping the properties in their names if you want to refinance the property! Our mistake was transferring it to our LLC.

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

Diego Hernandez