All Forum Posts by: Beverly Fast Sinclair

Welcome Darren!  BP is a great place to learn and interact with other investors.  

I am happy to help you when you are looking for homes.  Being an active investor in Hamilton and Marion county since 1997, there are certain offerings that you can rent easily and make a lot of money.  When you're ready, give me a call!  317/213-3278

I have had clients try to get a lender in their home state, and it has always been problematic.  There are regional changes and different state laws that can be tough to navigate if all parties don't understand what the laws are.  I would not recommend it.  

My ideal rental would be:  3 bedrooms+, 2 baths +, preferably over 1,400 sq. ft.  I have a real estate license and have seen everything on the BLC.  I'm looking for wholesale pricing.

Thanks!

Hi Malachi.

There is a lot of opportunity in Indianapolis to invest.  We have been one of the most affordable housing marketing in the nation, years running.  There are quite a few duplexes, too.  I've owned some myself, and they are great for cash flow!

Hi  

I am looking for wholesale deals in Indianapolis and the surrounding counties.  Anyone have anything they want to get off of their books?

Do you have a lockbox on it?  I'd like to take a look.  Thanks!

...and ditto what everyone is saying about property managers.  They can make the difference between profit and big losses!

The biggest hurdle for me is finding competent Realtors who will give you accurate comps and drive by the properties to take pictures.  I hold a real estate license, and am amazed at how unresponsive and sometimes clueless some agents are.  There is a wide range of knowledge and professionalism between agents, and you might have to go through some to find the one that you like.  I have made a list of agents that are "naughty" or "nice" so I know who to talk to in those area. I also prefer working with Keller Williams realtors because their training is so good. I haven't bombed out with any of them. You might also look for an agent that is a CRS or GRI designee. They have had some advanced training to get that designation. Hope this helps!

Nate is correct.  Appraisals must have 3 current sales of similiar properties.  In central Indiana, banks will only use sales from up to 12 months back, but no longer than that.  In an appraisal, there is also a place for the appraiser to add or subtract value to any of the comps or subject property.  If none of the recent sales have garages, that would be reason enough to go back to the lender and request a different appraisal.  You might do better to pull the whole file and start new with someone else.  It helps if you have your 3 comparable active and sold sales printed out to give to the appraiser.  A lot of them appreciate you saving their time doing that, and you can obviously choose the sales that would work best for you (if there are more than three.)  Good luck!

hi josh

You might consider investing in Indiana.  We have been one of the most affordable housing states in the nation for over 10 years.  There are also some great schools, too.  We have quite a bit of new and newer construction, as well.  As an investor I like to buy newer homes so I won't have any big ticket repair items for a while.  We don't have the crazy inflation some states have had, but Indiana has a very stable housing market.  I can talk with you more if you'd like.  Give me a cal if you'd like to discuss.