All Forum Posts by: Account Closed

@Guy Keren congrats! I'd recommend reaching out to real estate agents/brokers, pm groups, or local investors for contractor referalls. I can count on one hand the amount of times a facebook or craigslist guy has actually worked out. Most are just insured and have no licence, bond, or workmens comp. There is a reason why when a post is made on their you immediately get bombarded with 100 replies and messages. Someone who is that needy for work 24/7 typically does not have a good call back or referall rate. Just my two cents in that area. Coming from a GC and investor myself I've had countless moments in our early days before we were not yet staffed up where I had to deal with "Indianapolis General Contractors" group and find cheaper subs. 99% of the time they don't know what they are doing and the quality is very poor. Dealing with any issues from them is a pain as well. I constantly deal with investors who come to us needing issues fixed by someone they hired prior (facebook or craigslist guy) or that they paid and ran off/did shotty work and said they were done. 

@John Mason Thanks John! 

I will try to post one of these every now and then for analysis purposes. Always feel free to dm if you have further questions. Completed flip near eagle creek. Below are the numbers for anyone wondering. Wholesale house bought from "Invest with Ben"

New LVP throughout (Carpet in bedrooms)

New Kitchen

New Windows

New Bathrooms

Paint Throughout

Finishes/Fixtures/Minor plumbing work as well as front door replacement

Landscaping/Very little outside work

$153k purchase 

~$46k rehab (Used our own guys so was able to get labor at cost)

Sold for $242k

3/2 ranch 1200 sq ft with a 2 car garage. 

A couple of pics below. Would not let me upload more for some reason.

@Kendrick Molina feel free to reach out if you ever need anything. We buy and rehab homes all around Indy! 

@Micah Cook feel free to reach out if you ever need anything. We buy and rehab homes all around Indy! 

@John Salcedo feel free to reach out if I could be of assistance. We buy and rehab homes all around Indianapolis. 

@Dan N.

It is not a legal requirement in Indiana to have one. I did not create one for my first business but I did for my second. Here is some info on why they recommend one still:

It is recommended that single-member LLCs have an operating agreement for a number of reasons, including:

• Protecting against personal liability disputes
• Maintaining a clear separation between personal and business affairs
• Providing guidance on how the LLC should operate
• Making it easier to work with third parties
• Allowing someone else to run the business if the owner is unable to

I would second Sean's reply. Depends on the amount of drywall repair but those prices seem about right for this area on turns. 

Welcome Joshua. Just continue listening to BP podcasts and other people's experiences. Learn how to analyze a deal, get in contact with some wholesalers/agents and attend walkthroughs and do a "sample analysis" after showings once you get a better idea of rehab costs. Keep an eye on that house and see what it sells for a month (or months) later. Gaining connections with agents, investors, and wholesalers for off market deals is obviously a sure way to find properties under value. Once you have a great deal the lending part is easy. Feel free to reach out if you ever need anything. Don't overcomplicate it! Much like alot of things in life it's all about taking action just have to make sure its calculated actions in this space.

@Michael Quarles again Michael, These are what our investors and pm companies have wanted based on what has worked lately. I'm simply stating what we have been told to put into these homes lately. It is not really a debate on this post. It's literally what people have wanted from us the last year or so... thanks for the engagement though.