All Forum Posts by: Scott McGhee

There's got to be a problem with your Cash on Cash and Cap Rate. If you're paying $44,400 out of pocket and getting only $224 monthly cash flow, your Cash on Cash shouldn't be 27.8%. There must be a decimal point misplaced somewhere. A back of the napkin math says it should be more like 2.78%.

I would recommend going to the FilePlace here and looking for the spreadsheets. You'll find spreadsheets that other members have been kind enough to create so we newbies don't get in over our heads.

Welcome!

I've been trying to research this as well and have found the Census has some information on the vacancy rates of the Indy MSA.

http://www.census.gov/housing/hvs/data/rates.html

@Alain Perez-Majul This is true. I should have been more specific. For Beech Grove,  the closer you get to 465 you're more in the B area and the further north in Beech Grove you're getting closer to C.

@Mike D'Arrigo @Shawn Holsapple @Sterling White   I appreciate all you Indianapolis educated guys around.  I was asking myself what neighborhoods were what classification.  As a new investor, I'm looking at B class neighborhoods so I would naturally think they would be Beech Grove and Greenwood....pretty much that area in SE Indy near 465 or 465 and I-65. Or on the NE near Castleton or 465 and I-69.

I absolutely know I'm not the first to come up with but I can't seem to find a thread talking about it.

To get as close to 0 down, utilize hard money for the purchase and peer to peer lending for the rehab.  I know @Dawn Anastasi talked about it in her Podcast, but she nor Brandon or Josh had tried it.  Am I missing something here?

@Chelsea Ziss

How did this project come along?

Welcome Mandy.  BP is chalk full of great information and fellow investors who can help you from going astray.

@Nick BaldoThanks Nick.  As I'm just starting out, I think I know what a good deal looks like and have been looking at a variety calculators to reinforce or rebut my beliefs.

Good luck Rebekah.

As a resident of Plainfield, I've been keeping a close eye on Hendricks county.  Hendricks county is pretty stagnant right now.  I believe the December data said that Hendricks county existing home sales was down over 20% year over year.

I'm just starting out too and I'm looking in to the Beech Grove and Greenwood areas.  They look like they've got good potential.