All Forum Posts by: Graziano Casale

Hello,

I live in California and I own several rentals in Indianapolis.

They are owned by two LLC I own and control

This summer I’ll be moving out of the country, in Europe, and I intend to keep operating and investing in the area of Indianapolis.

I was looking for some financial advise on what’s my best strategy would be?

Should I do a domestication of my LLC from Cali to Indiana?

Should I move my Us residence to Indy? Better to have a residence in one of my property or a PO Box?

Anyone with a similar experience?

Thank you in advance

Graz

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $237,500
Cash invested: $61,000

Started the first year and rented at $2,350. Tenants didn't stay so I turned into an STR.
Already secured a tenant for 6 months at $4,000/month for the furnished place

What made you interested in investing in this type of deal?

It was in a great area, that was turning from B to B+. Appreciation was expecting. Other than that, it was close to the 1% rule for a property above $200k, which makes the impact of repairs and maintenance somehow less impactful.

How did you find this deal and how did you negotiate it?

I found the deal on the MLS. PM advise me against it since in his opinion it would not rent at $2,350 as my agent was suggesting.
I had already done two deals at the time with that agent and trusted her knowledge of the market. She was right!
Another aspect that made the deal interesting was that it came with an extra lot, which I can parcel off at any time and recover the whole initial downpayment. Lot value is approx $70-80k

How did you finance this deal?

25% cash downpayment with a conventional loan

How did you add value to the deal?

The value add came one year later, when I converted from long term rental to Short Term Rental. I went from $400/month cash flow to $1,500/month!

What was the outcome?

So far so good. I've the first STR tenant in, even if they signed for 6 months at $4k/month

Lessons learned? Challenges?

The extra lot will come valuable but the main lesson learned is to invest in great area! You can do so, when out of state, by having a great team and trusting the right people

Hello Alyssa,

I'm personally not a fan of 46218, even though it seems this is a hot area in the last few months and where other investors are finding deals.

46219 I'm not very familiar

46203 is too vague! It can be great but too expensive, to good cash flow to stay away. 

Glad to chat more about areas

Graz

Brian,

Congrats on your Duplex! Did you find a good handyman already? If not, feel free to reach out! Glad to share my personal experience in the Indy market

Graz

Hello Richard,

did you find someone already? If not, feel free to reach out to me. Glad to share my experience in the Indy market!

Congrats on your first BRRRR
Graz

@Diamond Anderson

Investing in Indy as well, but from out of state

Glad to connect and catch up when I’m in town

Graz

@Paul Beets great job!!

I want to say that even Landlord friendly place, such as Indianapolis, are not currently doing eviction due to the CDC moratorium. I've one pending since November and the judge is not even taking the court date

Hello Zack,

Like you I live in South California (LA) and I currently invest in Indianapolis since 2019.

Feel free to send me a message if you have any question

Cheers

Graz

Hello Russell, 

Welcome to the journey of RE investing. Like you I live in LA and I'm currently investing in Indianapolis.

Hit me up if you have any question

Cheers

Graz