All Forum Posts by: Christina Kim

@Cristine M. - My husband and I are doing the same thing and have a 4 unit in escrow. Of course with this new rent control law, its definitely making an already difficult process more difficult... Please remember with an FHA loan or any loan, you still need to pay an additional 2% for closing costs. All of a sudden, a million dollar property in which you saved $35K for requires another $20K. Also an FHA loan is difficult as there are many things you and the property have to qualify for such as DTI, Rents, Appraisals, etc. It's a long process but I still think its worth it if you can find one that works! It took us a long time to find a property that works.

Hello everyone! I am pretty new to this real estate thing but have done lots of reading and research.

I was finally able to find a property using an FHA (4-units in Long Beach) and currently in Escrow (should close any day now). I was not aware of this Rent Control Policy until coming across this thread. It was definitely a value add opportunity but not sure if this is still a viable option. Already put a $10K Ernest Money... Not sure what to do now....

Hello BPers,

I currently have 2 flips in Indianapolis and they are almost finished. Looking to seek some advice on whether I should Stage the house or not. Any reputable companies out in Indianapolis that does this? Costs for staging? This is my first flip and I did not budget for Staging. LEsson Learned :(

@Marvin McTaw definitely interested! Currently one side rented? Reno costs? CMA report? Anything you have would help for me to analyze this.

also interested in forming a group. I’m an out of state investor from CA that’s planning on flying out there in August. Have a flip in the process at the moment in Bates-Hendricks

@Jonathan James Look could I be added to your google group?  Also been investing in Indy and looking for value add opportunities.  Thanks!

@Aaron Cullen the rent might be on the higher end. This is in Bates Hendricks and I've talked to many investors in that neighborhood. The ARV and rents are prospective but the rest of my costs are actual. I'd be more than happy to share anything else. Hopefully by some of your insights I have a better idea if this is a brrrr or flip. Thanks!

Hello BP fam!

I'm a beginner investor and just purchased my second investment property in the Midwest. I am having difficulties figuring out what my exit strategy would be. It started out "wanting" this deal to become a BRRRR but the numbers don't make sense. Flip is the more logical thing to do but because of the "trendy" location, many investors I speak to tell me that it might make sense to hold it for appreciation. There's so many things to think about when choosing one or the other: cap gains tax, holding costs, closing costs, selling costs, marketing cost, PM fees, etc. Can the seasoned vets help analyze this deal? Many thanks!

Location: Indianapolis

Purchase price: $125k

Closing: $1,200

Reno: $78k

Projected Reno time: 3 months

Holding costs: insurance $350 (3 months), taxes ($150), utilities ($500)

All in costs on projected timeline: $205,200

ARV: $260k

If I BRRRR:

Rent: $1,500

PM: $150

New Assessed value for tax: $450/month (2%)

Please help!

@Sean McCluskey I did and doing a project with bildwise. So far they have been absolutely wonderful to work with. We are actually just beginning the start of the Reno so I will keep you updated how it goes. 

@Franklin Brunson interested. Is there a scope of work or property inspection with this property? CMA report? Any details will help. Can you please send any and all details to [email protected]. Thanks!