All Forum Posts by: Devan Bermejo

Thank you all for your help and advice! 

Okay. Thanks for your input. I’m constantly looking for deals and trying to learn to run the numbers. Also I’m trying to familiarize myself more with the Fort Wayne area. I had seen rents range from 650-800 around that area and just thought the numbers could work. I appreciate your response and insight! 

It actually is a duplex. 3 bed 1 bath approximately 1500 sq feet per unit. 

Has anyone in the Fort Wayne area dealt with crossway home buyers? I found the post on Craigslist. Looked the company up and found everything they had on the house. My wife and I drove by it this past weekend and the area was decent and the house seemed to be in decent shape as well. I know work will need to be done, but I don’t know the extent. Also I did see on the auditor site that the last tax assessment was $80,000 and realtor does have it valued at $121,000. Are those numbers useful? Any advice and help would be much appreciated. Even willing to split the deal with a veteran investor just so I can learn more. I’m a carpenter and can do some or most the of work if needed. 

Hi everyone, Im just curious what avenues you took to get your first deal.

I am looking for small multifamily rentals in the Fort Wayne, Indiana area. Im still new to the real estate investing world though i have been on bigger pockets for about 3 months. Im on the MLS, Facebook, craigslist, etc. constantly looking for deals and analyzing them on BP. One thing that's always in the back of my mind is how I'm going to fund my first deal. Though i have some money saved up, it's not enough for a 20% down payment, I don't have enough equity in my house since I'm only in my second year in it, and I don't really know many family members or family friends that'd have money to be a private investor. I have good credit, my DTI is okay but I'm taking some Dave Ramsey advice and knocking down some annoying consumer debt. Anyhow, I'm very eager to get into the game and to start my journey to have some passive income for more financial security. I'm a carpenter by trade now, but mainly commercial. I feel i am capable to tackle the minor repairs and updates because of though. Any thoughts, opinions, stories, and advice would be greatly appreciated!

Thanks Dennis. I have actually moved on from that house after a buddy of mine said the same thing. I appreciate your input!

Thats the thing. I think my ARV is close and I really want to walk it with my investor friend who also has his own construction business to get an accurate reno budget. Im so up and down about it but also feel like its analysis paralysis

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*This link comes directly from our calculators, based on information input by the member who posted.

I am looking to flip this house as my first ever deal. I'd be using a HML and some private money from my family. I haven't seen much of the inside and the extent of work that would need done so my reno budget was just a ball park. Comps in the town range from 105,000-120,000 however those houses are mainly on the outskirts of town whereas this is right in town. I'm really trying to take some action so i can start my 2019 year off in the direction i want to head. I plan on to flip this house to build capital so i can get some buy and holds. Let me know what you think. Any and all advice is welcome!

I’m a newbie that is eyeing my first flip. Does anyone have any advice or suggestions they’d like to share? I’m completely open to any advice and any thing that will help. Thank you!

So I’m curious as to how I could obtain funding for my first deal fairly quick? I’ve been knocking down my debt and saving money to get my first deal within a year or so. However I stumbled across a house in a pretty sought after little town about 10 minutes from my house. The school is great, location is ideal for people who want a small town life without being to far from the city needs (Fort Wayne,IN). They are actually starting to revitalize the down town with shops and everything. The house is listed for 44,900 with a renovation already started. It’s 4 beds and 1.5 baths with a potential of a full 2 baths and 1700 sq ft. The up stairs has already been almost completely remodeled. New windows, paint, carpet ect. The kitchen is already gutted so it’s a blank slate. The downstairs bathroom will need work and the living room will need paneling tore out and new flooring put it. My friend just recently bought in this little town and he spent 130,000 on a 3 bed 1.5 bath house that’s 1400 sq feet. Houses go quick here and I see the potential at a decent return but am struggling with getting creative funding.