All Forum Posts by: David Moudy

What price point are your properties? 

Do you have areas in Indy that you are looking into specifically? Can definitely help in Indy area. Shoot me a PM and let me know how can best help.

 Thanks for sharing this - something I wanted to note was at the end of the document the purchase agreement is for improved property when they said they were going to build on it meaning it was currently not improved? As a buyer how is that not a giant red flag? 

Until you have gained experience on rehab I would suggest getting a few quotes for scope of work.

2-4 contractors until you have developed an established relationship with them and you are able to trust their numbers fully.

There are several contractors that are on the boards pretty frequently. I know I personally work with a select handful of contractors that give us great numbers and turn out projects quickly for us. As you build those relationships it will become easier.

I would ask for a few referrals to great contractors as well because word of mouth is in my opinion best way to learn about great contractors.

When you do hire them I would give a 30% buffer into your numbers for potential overages. Where this can be high for projected overages, I would rather be way off on my projected overages than way under on my estimated total cost.

@Eloisa Gil Villafuerte for short term are we talking airbnb or are we talking 6 month lease?

For longterm we would love an opportunity to interview for the position.

On Red

@Clarence Gong Hit me up and can potentially help with acquisitions as well. Sister company with top 1% sales team here in Indy. We don't currently do turn-key however can find and help evaluate deals for you and get boots on the ground.

It is a great strategy - you have to know your numbers though and be confident in them. If you are off on your construction costs, or your appraisal comes in low, rent at expected rate doesn't happen it can sink your ship.

If executed correctly there are no better methods in my opinion. 

However it is also a method to lose money very quickly as well. If you miss on your calculations you can be at a negative return for quite a while.

 Do your due diligence, calculate your costs, and then recalculate them. 

Depends on what you are looking for in a rental and what your goals are overall. You can get some great cash-flow in 46201 - however appreciation might be non-existent. 

A pretty debated area right now is Irvington. personally I think that parts of Irvington are going to boom within the next 5 years. Others say that historic district will hold it back. Only time will tell.

Fountain Square and Bates Hendricks area have been pretty much gobbled up. I am a pretty big fan of Pike Township and Washington Township for easy rentals. Return will not be as high as some areas however it will be consistent for renters.

@Ondrej Marimar

I've dealt with Farmers Insurance. While I am not sure whether they are the cheapest option. We had an AC and furnace stolen. They had their adjuster out in a very quick major and paid the claim without much headache at all. Would definitely recommend giving them a look