All Forum Posts by: Eric G.

@Lamont Glover II. I'm a big fan of the MFC area. Currently, I have a new build project at 30th and Broadway and 30th and Ruckle. Both new builds will hit the market 2/1. I have several other lots in the area which I will start new build projects to hit the market 4/1.  MFC is an area in transition and has not "fully arrived yet." To me that's a sign that there is still money to be made (as opposed to say Fountain Creek/Bates Hendricks where the price of entry is so high it is difficult to make a respectable profit). 

MFC is certainly block by block. I've driven the area on three extended visits to Indy in the past seven months. Certain blocks are just beautiful (check out North Park Avenue, Broadway and Ruckle as an example) while others have still yet to really transition (e.g. New Jersey and Delaware). The Mapleton-Fall Creek Development Corp (the local community group) is quite influential and impactful in the area (check out their website). They have spearheaded efforts to bring pocket parks (e.g. Ruckle Street Pocket Park; check out their Facebook page) which brings the community together (they even have a lending library in their pocket parks!) and add greenery to the area blocks. If you are thinking future appreciation, these parks are even hosting morning yoga events.  

There is a new rapid transit bus line coming down College so that area is primed for growth. The blocks between College (going west) to Central between 29th and 35th are well located to benefit from the continued urban infill movement, access to the Monon Trail, new transportation lines (as I mentioned before) and the close proximity to Old NorthSide/ Fall Creek/ Kennedy King and Herron-Morton. For buyers who cant pony up to the $350,000+ SFH level for those neighborhoods, MFC provides the next best thing at the $250,000-$330,000 level.

PM and we can talk in further detail regarding my analysis and why I'm so big on the MFC creek. I think you have made a smart decision in selecting that area for a house hack. 

Eric 

Morning fellow REIs,

Does anyone have any suggestions/recommendations for an insurance company that sells liability insurance coverage for a vacant lot?I know Builders Risk Insurance kicks in once I start the build, however, I'm looking for liability insurance to cover the vacant lot while it is just sitting there. Any suggestions/recommendations would be greatly appreciated. 

As background, I've closed on a vacant lot purchase today in Indy. I will construct and sell a new build SFH on this lot. I'm happy to share my experience, so far, with the lot search and purchase process with any other interested investors.

Thanks in advance,

Eric

Good morning fellow REIs,

Does anyone have any suggestions/recommendations for an insurance company that sells liability insurance coverage for a vacant lot. I know Builders Risk Insurance kicks in once I start the build, however, I'm looking for liability insurance to cover the lot while it is just sitting there. Any recommendations/leads or suggestions would be greatly appreciated. 

As background, I'm closing on a vacant lot purchase today in Indianapolis. I will construct and sell a new build SFH on this lot. I'm happy to share my experience, so far, with the lot search and purchase process with other investors who are interested in this route.

Thanks in advance,

Eric  

Buy and Hold Rental Analyzer (in Excel) 

I am looking for someone to build a buy and hold rental analyzer for me. I will pay you for the spreadsheet once created. Please DM if you are interested and have the capability. 

I'm a new real estate investor and appreciate the assistance. 

Thank you

Hello everyone, 

I'm brand new to REI and looking to buy my first property in Indianapolis. The rental market in my locale is just not an option, so out of state I go. I'm looking for recommendations for realtors and wholesalers in the Indy market who work with buy and hold investors.

I'm targetng value-add properties (single families or duplexs) with cosmetic upgrades and for my first investment would prefer to shy away from massive rehab work. I am looking for properties within the $50K,-$75K range. Any assistance and guidance for a newbie would be much appreciated. 

Thanks everyone,

Eric 

Hi Bob - thanks for the kind offer to the community. I'm new to real estate investing and will be buying my first property in Indy. I have read that finding a good contractor is one of the hardest aspect for an out of state buy and hold investor. What would be the top 3 or 5 points I and other new folks should consider when we are looking for/interviewing a contractor?

Thanks for your time. 

Eric