All Forum Posts by: Benigno Cunanan

@Jeff Wallenius yes exactly mars hill neighborhood. I was doing some research and looks like it’s a B- to C+ neighborhood with above average schools. Is this accurate? My goals are to get rentals in B to B- neighborhoods with at least a 1.25% rule that cash flow as least $150 after all expenses with loan payments. Can you recommend a better area around that would satisfy my criteria? Thanks so much

@Jaron Walling not yet but will definitely look more. Do you have any recommendations on where to look? Zip code or streets?

@Jeff Wallenius is a 4/2 property in 46241 at around $50k that rent for $850 a deal there? It’s close to IND airport. Not very familiar with the area. Are there areas there that I should avoid? Focus on? Thanks a lot

I am looking to purchase my first rental property in Indianapolis. I chose this market cause of the low purchase prince and relatively high rents, some still passing the 1.5% rule. I’m looking to buy in the 46241 zip code. Can anyone give me some insight on the area? This this a B, C or D class neighborhood? I was told by the agent that it is a B class neighborhood. Looking to purchase a 4/2 at around $50k that will rent for $850 to $900. The numbers seem to work but I’m not sure about the area or market. Any info, bad or good, will be greatly appreciated. I would also like to connect with any property managers and investor agents around that area too. Thanks a lot!

@Jack B. I totally agree and will definitely consider that when looking to buy this. I was also thinking about what you said and say I put in 4 times more than what I am putting in a DP, I would also be netting about 8 to 9k a year in profit. So it’s almost the same, just in a smaller scale cause I don’t have the money to buy it cash yet.

@Jack B. Yes I agree. But isn’t this the numbers with Turnkeys too anyway? I feel like I’m buying a TK but for cheaper

@Subbie Kaur yes that’s how I feel too. What’s making me think twice is the fact that it was fully renovated in 2015 so my cap ex shouldn’t be too much. The big things were already replaced like the roof, hvac and electric/plumbing. The downside is that it’s only $100 cash flow. Can’t seem to make up my mind on it, being its my first property too, maybe it’s not a bad idea just to learn more.

@Aaron Wade that’s great, awesome cash flow for a turnkey! What percentages do you have for cap ex, repairs and vacancies if you don’t mind me asking when it’s a turn key? Did you lower it or stick to the standard?

@Ricardo Navarro not really sure right now if it’s worth it or not since this Is my first one. So with your criteria this would pass since it’s about $100 cash flow after all expenses right? The cash on cash here is a little low, 6% only, cause if closing costs and all. But cap rate is not that bad at about 9%. Did I miss anything in my calculation?

@Aaron Wade that’s good cash flow for turnkey! Is this after cap ex, vacancy, repairs and property management expenses?