All Forum Posts by: Josh C.

Another for AI. It’s the insane how many ai responses there are. They kill all credibility for the person who posted it and the whole forum in general.

@Schneur Yecheilov I would not recommend you find someone who does it all. Whoever does rental work won’t do the quality you need for a flip. Whoever does flip work will kill your budget on the rentals as will be high quality and slow and expensive. Feel free to DM me if you need anything specific.

Good luck!

@Wesley W. Bro this whole website has sadly turned into ChatGPT asking questions and ChatGPT answering them. It’s nuts. I don’t even understand why they do it. Does BP have bots that do it to create content or do people post ChatGPT answers to look smart and gain clients?

So obvious it’s AI, it makes them look dumb not smart.

It’s ruining the once great BP. :(

@Schneur Yecheilov

For a flip or rental? Simple lipstick stuff or new construction and full gut jobs?

Are studios really trading at 130k a door? What a different market than Indianapolis. Sub 4 cap rates 🤯. In Indy that would sell for 4-5MM. Please keep us updated if you are able to move that at these numbers.

As far as seller carry, 1/3 of PP doesn’t sounds too bad to me. But again, at 4 cap rate, you’d need the loan to be at 3% or less to even consider it, hopefully 0% over 30 year term. If they want 7-10% that’s a non starter.

Patrick

Couple of things. $165k a door something that rents for $1300 is not the best deal in Indianapolis. You can find $115-130k a door for that rent all day. As a property manager for 10 years in Indy market we see what these assets trade for and this is very high. You could buy a very nice deal in Carmel with $1700 rents at $165k a door right now.

Finally, just some BP advice, if you need ChatGPT or whatever AI to help you write something that’s fine but to just have it write everything and copy it looks like you either don’t care or can’t think for your self. Which I’m sure isn’t the case, but comes off that way. You personally writing it is always better and will illicit better responses.

Good luck and let me know if you have any questions about Indy.

Agree 100% with Jules.

They are complaining they can’t buy two houses to replace one? What kind of agreement is that? Obviously dumb dumb. And the other guy complaining he bought a huge asset with selling costs and can’t make money on it in two years? Boohoo. I’ve never heard of that publication before today, but they seem really desperate for clicks. I hope Jules and I didn’t help with their algorithm rankings.

@Gregory Washington

Sorry you are going through it. I’ll say that’s a lot for HVAC, but a bigger unit and the new 454 stuff is expensive.

I’d keep looking and should be able to get a full system for 10k or less. If not though all the big people who advertise on the internet that charge high prices like this will offer financing. Don’t give up equity because your AC broke. Not worth it.

@James Wise

This is what ChatGPT has done to this site. Everyone just copies and pastes random questions in ChatGPT and blindly puts it as their response. I swear 20% of the responses are AI and even some of the questions.

I did a test and asked ChatGPT for Midwest turnkey providers and it did in fact recommend Norada (third in the list), even saying they had a A+ rating on the Bbb. lol.

Keep shopping. Someone will write it. I have a 100 year old building, with original wiring, original plumbing, and original elevator. Yep 100 year old elevator. Still got insured.

Try to find a broker and not just direct to the insurer.