All Forum Posts by: Kerry Edwards

If there aren't recent sales comps closer than a mile away then you're probably looking at a rental area. If it is in fact an investor/rental area you'll want to use a different ARV usually somewhere between 45-55 times rents.

Indianapolis is difficult to navigate investment wise as neighborhoods change dramatically from block to block. If you're talking about Millersville Road south of 46th you want to at least drive the block and drive your comps to confirm your ARV number. There are pockets of really good stuff over there by Cathedral High School and north of 46th off of Binford Parkway

Also Check to see if the property is in IPS or Lawrence Township because for that area being in Lawrence Township should typically command at least $100 more P/M in rents

@Kat W.  you didn't state whether you were looking to buy an old or if you were looking to do a quick flip.  

In my opinion if you're looking to buy and hold long-term now may/might be a good time to enter as its still "edgy" but some trend towards change . The rents are decent for what you're "all-in" numbers should be so if your looking for future equity or "banking" until it's time to flip you should be ok. 

 If you're looking at just doing flips in that area  margins are tight on most deals and you'll get caught between doing a basic flip (level 1) and a upscale flip (level 2 or3).  You'll need to be sure of your DD and all-in numbers. 

welcome to BP @Kathleen Hendricks 

@Justin S.  For me I've always found the Anderson market less predictable  than I like for DOM.  So I'll usually pass on deals up there unless I have a end user in place. 

We are loving ReZamp.com as a added resource in our tool box.

@Rodney Kuhl  is right about Lawerence being a good rental area. If your model is for cash flow as the schools are mostly B and C as opposed to the city where the schools are D and F. You get working-class people that cant afford Carmel or Washington township but can usually swing  $750-1050 in rents. 

@Account Closed  I live in old town Caramel and up here we/they are buying two bedroom bungalow's for 140K and knocking them down. Land was cheap up here in the 50s and 60s so most of these properties sit on a lot that can accommodate 2500-3500 square-foot new construction

welcome to BP @Coire Fox 

welcome to BP @Raj S.  

We don't have a preference just what ever gets the deal done. But if we have a rehab that hasn't been pre-sold we will shop it to our buyers list and brokers that might have pocket buyers before we list it. That way we save fee's on our side but we are always willing to pay buyer agent fees. 

welcome to bp @Dennis Weber