All Forum Posts by: Eli Moore

Anyone have a referral for an inspector in Indianapolis? The home is small and appears to be in great shape, not looking to break the bank for the inspection.

Does anyone have experience with these types of loans? And if so, any recommendations for a lender in the Indianapolis area?

 @Bill J Fay @Jake Knight @Bruce Woodruff

Update on this property. Foundation contractor inspected the basement and estimated $20,000 in repairs. This included structural support and waterproofing. 

More details on this deal:

Asking Price: $189,999. Seller is going through foreclosure process 

ARV: $225k-255k, based on conservative comps (A buyer had put in an offer for 235k before backing out after inspection)

Capital I have to work with: $35,000

Rental Estimate: $1,750/mo. Though I plan to live in it for the short term, potential house hack

Any advice on how to negotiate this deal? I feel it unlikely that the lender will be willing to lend on this property given the current foundation status (advice from the foundation contractor). I've read about renovation loans, like the FHA 203(k), but haven't found lenders that offer it.

Assuming I can get financing, should my strategy be to lower my offer price and cover the reno myself? Or am I better off potentially giving more to the seller and trying to have them pay for it? (Again the seller is going through foreclosure so I assume they are low on cash) This is a short sale

@Gregory ChadwellThanks for the advice!

@Nicholas L.

Thank you for your insight!

@Russell Brazil Thanks for the information! What kind of prices are Buying agents going to be charging for their services?

@Russell Brazil Any insights on how much fees will go up?

Brand new investor here. In my search to find my first deal, I have grown increasingly frustrated with the hassle of having to use an agent to schedule showings, especially when I want to coordinate with contractors or other specialists. I have thought about getting my Real Estate Agent License, and am wondering if the NAR Settlement makes it more or less attractive. I do not have much interest in working as an agent for others, but see the benefit of having access to the MLS and the ability to schedule showings. I understand the costs associated being an Agent (I actually took a course and passed the licensing exam a few years ago, but never did anything with it as I started a new career as a Firefighter).

I am currently doing all of the work in analyzing deals and researching properties, I'm just curious if the new environment makes more or less sense to get licensed.

Any insights are helpful!

 Greatly appreciated!