All Forum Posts by: Grant Anderson

Hi All - I am wondering what techniques people use to protect a flip after the work is completed and it is vacant from being broken into.

I am finishing up a rehab in Indianapolis and had a couple questions. What are the typical real estate agent fees? I am from California and the typical fees are 5-6% split between the listing and selling agents (2.5-3% for each).

Also, my property is near Mapleton-Fall Creek area and my experience leads me to believe that busier streets typically sell for a lower price due to the fact that they are on a busy street (like N Pennsylvania and N College). Is this the case in this area too? The street my property is on is very quiet compared to the others.

What marking tools should a real estate agent use besides just listing it on the MLS and putting a sign up?

Thanks everyone!

Hi all I am in the process of buying a house that includes a vacant lot next to it. I know that zoning and the city would allow us to build on it, there used to be a house on the lot. Is there anything else I would need to be concerned with?

Hi all, I am new to the Indianapolis market. I have a couple rental properties I have hired a real estate agent to help me rent out but they have only been able to rent out one of them. What is the average number of days should it take to rent a property in Indianapolis? Is there a difference between the west side and the east side. The one they rented out is in in the east side. All of the properties are in the $1,100 - 1,300 price range. 

Matthew - If you are doing the BRRRR method and you are in a cheeper market, make sure you have a lender that wilying to go down to your ARV number. In my experience traditional lenders won't loan under about $75,000 it is not cost effective. Also, most investor mortgages, like B2R also won't go below a 75,000 loan. So make sure you have a lender prior to buying the property or you may not be able to refinance your cash out.

Hi Sam - Based on your follow up question. It is very difficult to give you a clear answer to your question because every area and every property itself is different. An older home you might need to increase your maintenance and cap ex percentage than a newer or just rehabbed property. Also, the area the property is in as noted here may come with higher vacancy rates (economic vacancy and physical vacancy) and higher repair estimates. It is very difficult to generalize vacancy, cap ex, repairs, and management.

Thanks everyone, it looks like I am going to get a new refrigerator.

I am buying a couple property in Indianapolis and my normal inspector can't do the inspections in time. Do you have a recommendation for an inspector?

I just bought a couple rental properties in Indianapolis. They are in decent areas where rents are between $1,100-$1,300. Two of them did not have a refrigerator, is it customary to provide a refrigerator in Indianapolis?

What appliances do you typically provide?

Hi all I am wondering what everyone is using to screen their tenants. What is the best tenant screening company for landlords that manage their properties?