All Forum Posts by: Com M.

@Joshua Nobles I am also investing in the Indy market.  I have been working with T&H Realty and would highly recommend them. 

You graduated High School and made it into a college to drop out of?!  My parents WISH I made it that far  :p   That will not determine your life direction, how much you earn and  how you deal with finances will.  In the short term you need to earn as much as you can, pay down debt, save, build your credit, and invest wisely. 

Investing in real estate requires knowing finance options.  What requirements there are, guidelines, types of loans, rules to those, etc.  If you know 15 ways to finance a property it becomes a lot simpler to purchase, and the more you deploy each strategy the more comfortable you become with that strategy.  I would suggest learning as many financing options as possible, and the requirements and caveats to each. If you only know how to finance a deal 1 way ever deal you look at must fit in that one box which greatly limits you. If you know 50 ways (and there are thousands)  then you can look at every deal different ways greatly increasing the chance you can make it work.  That is why a rookie here looks at 1000 homes and finds no deals, and an expert looks at 30 and finds one.  They are looking at the same market - they just have different options and educations. 

0 down is normally a pretty bad idea, you need to have savings and it does take time!  Being over leveraged is a real risk that should be carefully examined.... that said if you can find a situation where an investment is distressed (bad renters, no money for rehab, owner died and family doesn't want, etc)  and you bring a money partner there is a way for you to get into a property as the operating partner doing the work as your portion and the investor money for the cash.  Something like this allows you to buy a property for less than market value and is worthwhile to the investor as they don't have to do the work, and are able to get into the property for a better than market valuation.  This of course isn't the only way its one of 10,000 ways to get in with 0 down but is less dangerous than finding a way to owner finance 100% of a property at a high valuation during a high point in our current market as your first property without reserves.... Yes you can find and do that - and it is a very, very, very bad idea.  

Welcome to the boards, learn as much as you can and save while finding the strategy that is going to work for you. Looking forward to hearing how you decide to move forward!

@Kurt Snyder hi Kurt!  Also a SoCal professional investing in Indy.  I haven't seem many 4plexes great find!  Hope to hear more after the refi on these 2 projects. Good luck!

 Sorry, I took you saying that there was no state for him to me but you didn't know there was one. You totally knew it was there just couldn't find it good going Magoo.

Good luck in flipping, to you and everyone in your path.

 I pay because I want to support BP, a resource that I value and believe is worth us supporting. As for getting any free advice from anyone here - forget the market work on people skills and how to use a forum.  You talk about tools the pros don't need and don't even know the features of the site you are on....

I researched several turn key companies when starting out, and went on the buy list with one of them but every deal was at least 10k over value for the area so ultimately I just purchased a duplex from MLS and just on board it with a PM. Been very happy doing it this way over going the turn key route.

Best of luck!

is this property still available?

 So I was looking at taxes, land lord laws, elemental considerations (don't like heavy snow), growth of the city, but most importantly teams I could work with when starting my portfolio.

I am happy with the duplex so far, a few bumps but I'm glad I did it. Looking for my next SFR or duplex now.

Good luck finding a market! Can't wait to hear about the first deal you close.

I decided to research markets, narrowed it to 3, then researched PMs and properties on MLS. Once I had all of this I weighed the pros and cons and chose the city with team, deals, and stats that worked for me. In my case that was Indianapolis but I was also looking hard at Memphis, KCMO, and a couple of cities in OH.

Now that I have the team I want to work with I purchased a duplex a little over a year ago and am looking at my next SFR now. I will probably build 3-5 here before thinking about diversifying.

I have had some bumps along the way so having just 1 property with multiple PMs in multiple markets could be bumpy. An owner with a portfolio normally gets more service and priority than a demanding OOS owner with 1, and lastly multiple properties is already a form of diversification.

Best of luck looking forward to hearing about your first deal. Or for a cool 1 million you can finance a studio apartment in your city and rent it for half of the mortgage: )

I need to start by saying that I love BP, but the forum software leaves a LOT to be developed.  I am not sure of the exact structure but I am sure that a lot of the search functionality can be redone.  I find it very difficult to navigate and to search for the information I am looking for.  This site is FULL of useful data, and having a great search functionality and a little time spend on the flow of the software would be really welcomed.