All Forum Posts by: Brian Formulak

@Aneal Khimani the best way is to work with a realtor that works with investors in your target market. They will be able to give you all of the information you need. If you want to do some research without, try Zillow, realtor.com, Neighborhood scout, census data, and Rentometer. 

@Christopher Olsen 

I would also take a look at a few different markets in Indiana. Indiana is a great market for the $60k-$100k range. Single-family rentals offer a nice return on your investment with monthly cash flow with low property taxes. I have long term tenants in place, and in my experience seen very high tenant demand in the markets I invest in throughout Indiana. 

@Jaeda Hildenbrand 

I wrote a forum on how I invest my entire investment portfolio, especially in times of volatility. Below is the link, however, I would discuss further with a financial advisor to put together a diversified plan for you.

https://www.biggerpockets.com/forums/48/topics/817098-thoughts-on-investing-in-times-of-volatility

You have to be disciplined with the offers that make sense for you. However, when negotiating you should try and build rapport with the seller and be strategic with how you go about it. I believe negotiation is one of the most important skills in all of the business. 

@Austin Fry if the numbers match up to your criteria and you feel ready from your education and preparation, there can be opportunities that arise from the downturn. In volatile times you need to make sure that you are even more disciplined in following your numbers and sticking to it. 

@Marvin Robinson I recommend for your first step into real estate that you start with a moderate rehab, vs. a gut rehab. There are a lot more moving pieces when you do a full gut rehab that can cause unknown costs and problems, while a more moderate rehab can be more predictable. Even after 25+ years I still prefer moderate rehabs. Good luck.

@Michael Gabin I wrote a forum on how I invest my entire investment portfolio, especially in times of volatility. Below is the link, however, I would discuss further with a financial advisor to put together a diversified plan for you. 

https://www.biggerpockets.com/forums/48/topics/817098-thoughts-on-investing-in-times-of-volatility

@Daniel Mendez schools, owner-occupied rates, rental comps, unemployment rate, vacancy rates. 

@Victoria Coleman we focus everything around cash flow. Our number one criteria is a 10% cap rate in a B+/- neighborhood throughout Indiana. I have found over the past 25+ years that these properties generate consistent return on investment every year. Make sure that when you put together the criteria that work best for you, you stick with it and don't rush a deal if it doesn't fit your criteria and numbers. 

I would definitely keep the finances separate. Each state is different so I would talk to a lawyer and/or a CPA, but you will need to register an LLC and get an EIN to open up a bank account.