All Forum Posts by: Derek Farmer

 As of right now we do not have any particular deal!  Still in the looking phase!  As of right now, yes just focusing on Single family fix and flips.  

I think it would be really lucerative to get into commercial spaces as well but as of right now we are primarily entertaining SF homes

It actually was an awesome and very easy to use app. I will most likely use it next year or the year after. The reason that I did not think it was for me is it did not have a function for estimations. Flip/ BRRR/ Rent estimator. More on the personal analysis part of it that I do not fully know yet. BP does have that which is why I switched to them! I listened to your podcast episode on BP!

 I just tried out Deal Machine and it was not what I was looking for so I just became a Bigger Pockets Pro Subscriber

 Thank you!  Alot of podcasts I have been listening to have been mentioning Indy and the surrounding areas.  I am excited

 Hello!  Thank you for the welcome!

Right now we are just finishing out this year before we really put the gas pedal to the floor.  I also will have a big promotion at work coming up that I will need to prepare for.  Hopefully that will be at the end of Q1.  Then I will be able to really hammer at this.  Just getting a feel for things.  As of right now I am planning on using Q1 to learn how to analyze deals and build my team.  Hoping that my brother in law will be able to build and manage a contracting team.  I have already started talking to a few realtors.  Along the way I would love to get investors instead of lenders and eventually scale massively.  Along the deal analysis I am looking to buy and use Deal Machine.

Hello all,

I am 25 years old living in Indianapolis Indiana.  I would like to get a structure for fix and flipping in 2025 so that I can do it in my free time.  I believe that the Speedway area is where I would like to look first.  Long term goals in mind that I need a track record and capital for!  Been a listener of Bigger Pockets for while!

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $110,000
Cash invested: $150,000

This is our first deal as a full family (Parents, sister and brother in law, me). Bought it as a potential long term / medium term rental but now are looking to just flip it!

What made you interested in investing in this type of deal?

It was a value add and we would potentially be able to make money in a flip

How did you find this deal and how did you negotiate it?

I believe my mother found it on Zillow. There was not alot of negotiation and now looking back I believe that we overpaid for it

How did you finance this deal?

We paid cash

Lessons learned? Challenges?

Look at more deals before we close on a deal. This was the first one that we looked at and because it was close to all of us to work on it, we jumped on it.