All Forum Posts by: Henry Maldonado
Henry Maldonado has started 2 posts and replied 6 times.
Great! Glad to see other investors in the area. I'm going to wait till EOW to see if anyone else wants to join in. Then ill set something up for next week.
Hello new and experienced investors of Indianapolis! I was wondering if there were any other new or experienced investors in the area that would like to meet up for coffee and just talk investment ideas, contractor recommendations, repair horror stories, etc. If so please leave a comment.
I am about to start my real estate adventure and I just want to link up with other like minded entrepreneurs.
Post: Home Rehabs-What advice would you give someone on their 1st-Rehab
- Posts 6
- Votes 5
Quote from @Mike D'Arrigo:
@Henry Maldonado the big ticket things like roof and HVAC are easy to determine. Same with the cosmetics. It's the hidden things that you should worry about. Indianapolis has a lot of older homes which could mean old, out dated electrical and plumbing. Also, older homes tend to have clay sewage pipes which may have cracks or breaks. That can be very expensive to replace. I would have your sewage and main water lines inspected and then get a 3rd party warranty on them. You can get a warranty for around $20/mth and it's well worth it.
Agree on the roof. Ill probably make myself a punch list to makre sure i analyze all needed repairs to determine if a project is worth it or not.
Post: Home Rehabs-What advice would you give someone on their 1st-Rehab
- Posts 6
- Votes 5
Quote from @Juan V Lopez:
What I would recommend to you is to connect with investor-friendly agents in the Indianapolis area. If there are local Facebook groups for investor agents, join the groups and ask there. You can also go into the Network here in BiggerPockets and look for investor agents in that area.
Tell them what you are looking for (for example: Single family home, max purchase price $200,000, needs work). Then they can send you properties that fit your criteria. They are also able to tell you what the ARVs are (comparable sales).
Since you do the renovations yourself, you have an advantage over many investors because you can keep renovation costs down and do estimates yourself. Once you get to a home and do a walk-through, you can see if the deal would work for you and make you money once you sold it (based on the ARV).
I hope this helps. Feel free to ask questions here or DM if you need help. Wish you the best, brother.
Very helpful insights. Thank you very much. Ill be sure to DM you. This is a great network for investors.
Post: Home Rehabs-What advice would you give someone on their 1st-Rehab
- Posts 6
- Votes 5
Very good tips. Thank you very much. How would you determine the After rehab value of a property?
Post: Home Rehabs-What advice would you give someone on their 1st-Rehab
- Posts 6
- Votes 5
I want to begin rehabbing homes and then reselling in the Indianapolis area. I do HVAC/Plumbing - cabinet installs and flooring. I want to make some connections. I'd like to see what experts have learned along their journey and what they would do different knowing what they know now.