All Forum Posts by: Derek Clifford

@Paul Warner, thanks for chiming in! I certainly will reach out very soon to discuss many things about the opportunities in your area. Thanks for offering your expertise to a relatively new investor.

@Aaron Cullen, very good to hear that I'm on the track by going through wholesalers. Do you actually fly out to Indy/your market for your deals from a wholesale to oversee and arrange rehabs? (I see you live in Cali also, and that is a long flight to do multiple times for a 2+ month rehab!)

I've been relying on turnkey providers, pictures, video, and independent inspections, but see how you can probably get better numbers by coordinating yourself on-site. I have a local community here in the Bay Area in which many other experienced investors go through the same wholesale pipeline - so there is lots of trust there.

@Edward Rhoads, sounds like you have an awesome plan in place! I really admire this - you appear to be going against the grain in Indy (like Aaron Cullen also). It shows once again I have lots to learn since all I read and hear points to Indy being a SFH investor market.

Thank you also very much for the BP member recommendations. I'll reach out to these folks as well and read up on some of their posts and contributions.

Gentlemen, thanks again for all your directions and helpfulness - I understand that your time is very valuable, and I'm honored that you're reaching out and offering to help.

Hey @Edward Rhoads,

Wow, great info and congratulations on the duplex - excellent ROI on that. I haven't been able to find many duplexes out there that make sense, but you have a great deal there.

Since I'm out of state, I'm working with a few turnkey operators now, but toying with the idea of leaving my job and moving out there to invest once we build a modest savings!

This might be scarcity mentality also, but I'm not sure how much longer the high CAP-rate inventory out there in Indy will be lasting for someone like me. I'm focused now on trying to get as much high CAP-rate leverage out there as I can (10 mortgages) and then pay them off one I get the cashflow going, and then do the @Shawn Holsapple refi's once we get going.

After all, on $60k initially, I could get 3 or 4 houses first, then move on to the next ones once they get cashflow.

@Jad Boudiab Thank you - I certainly will! Are you doing flips or buy/holds or wholesaling?

@Account Closed If you knew me in person, I am certainly not known for my comedy, but glad I got someone to laugh today!

@Edward Rhoads Thanks Edward! Since we are planning on using leverage, we figure we could conservatively get about $3k per year cashflow (after vacancy, repair, taxes, etc. and mortgage) on $15k down on a $60k SFH in the Indy market now. My wife and I make good money in our jobs, so we have enough for down payments from our jobs alone every three months or so (before other rental income).

Are you a buy and hold investor, Edward? Still have much to learn from folks like you and Jad!

Hello all!

I'm a long time "lurker" in the BP community, so this intro is well overdue! My wife and I are part-time real estate investors with full-time jobs, a project manager and a doctor.

We have 3 rental properties now under our belt and are house-hacking in the expensive San Francisco Bay Area market. We are looking to buy at least 5 new properties in the midwest (targeting Indianapolis and Cleveland) to eventually reach passive income of $50,000 / year in 3 years.

Excited to be a part of the community and learn from all of you out there!