All Forum Posts by: Casey Sbrana

Hi friends! 

I just purchased my first single family property in Indianapolis. Starting renovation soon. Need to find a solid property management company to manage it once it’s rent ready.

Does anyone have any suggestions of people or companies they’ve worked with in the past that I could reach out to? Thanks!

I brought my investor a possible deal that looks pretty good on paper. He had some concerns and various questions which is totally fair. But then he also brought up the talk around the looming recession and how that could potentially affect the deal and maybe his willingness to fund it ... I didn’t have a great answer for him. 

Does anyone know a good way to approach this topic when people (especially those in the rental market game) bring it up as a concern and maybe even a hesitation to get involved? 

Thanks! 

P.S. The market we’re focused on is Indianapolis, IN it that makes any difference. 

I feel like I need to get better at understanding the appraisal process when valuing a SFR. I'm specifically looking for distressed single family homes in Indianapolis to renovate. And I know the basic idea for pulling comps: Finding similar homes sold within the past 6 months in a half mile radius and all that.

But even then I'm seeing too much variation. Any tips or advice on how I can better my knowledge on estimating an ARV? Just use the square footage method and hope for the best? What else do I need to take into consideration? What if there aren't any good comps in the area? Avoid that property all together?

And on top of that if anyone knows specifically the process of how an appraiser  decides on that amount I think that would be super helpful! Thanks! 

- Casey 

I personally wouldn’t qualify for a loan because I’m a 1099 employee and don’t have 2 years of consistent income history yet. But I have family members who I could potentially co sign with. I imagine I’ll need them to apply online or submit some kind of credit report/proof of income. But I mostly just want to know about their different loans first. 

But the loan would be for a refinance considering I planning to buy and rehab the home with hard money (spoke with a HML already). So I'm just trying to reach out to different lenders who could potentially Issue a loan against the ARV once it's all said and done. I just want to know all the specifics of their refi loans first.

Searching for distressed properties in Indianapolis to purchase and renovate. I’ve spoken with agents, wholesalers, PM’s, some contractors, hard money lenders, etc. But still have yet to find a good local lender who can refinance a property out of the hard money I’m using to acquire and rehab it. I need to know that my exit strategy is solidified before I start offering on properties. 

I want to ask things like their LTV, basic rates and loan terms, seasoning period, etc. What are other good questions I should be asking? And who should I be asking these questions too? Perhaps you've done something similar in the past and know of a good lender who I could chat with.

Thanks BP!

I live in California so I'm obviously looking for deals out of state...

What tools, resources, websites, and general criteria do you guys use to find a 'BRRRR friendly' market out of state? David certainly talks about following employment trends, job growth, and high price to rent ratio; which are all great points. But how do I narrow down my search and notice those trends and other key criteria?

I'm all for putting in the time and hard work to research research research, and then the steps that follow. But my first major obstacle is actually where to observe and analyze this data and what exactly am I looking for. I don't yet feel confident in knowing how to narrow down my search to a city, or county. Any tips or advice?