All Forum Posts by: Account Closed

@Jay Hinrichs

I find it interesting that with all your advice, along with some other people on here, that people still buy these $40K TK properties anyway. Do they really think it's going to turn out different? I am curious.

@Ian E.

Glad the site helped you out. Since the site says you are owner of title then it's officially your property. Now Marion County will send you a tax bill, lucky you! :) You should have received a hard copy of the warranty deed from Marion County recorders office. It really is not a big deal that you have this because you have the HUD, the signed warranty deed, and the site already shows you that you are the owner of title. If you want it for your records I would reach out to the Marion County Recorders office and ask them to resend it to you. See link below.

I agree that the best way to learn is to jump in and get experience. I did back in '06 and '07 by buying on hype and emotion. It cost me but I became wiser for it. The only way to be successful is to make mistakes and learn from them. I do wish the best for you with this property and your other endeavors. I will keep following to see how successful this property becomes for you. 

http://www.indy.gov/eGov/County/Recorder/Pages/hom...

Give the person at the recorders office the tax ID number of the property. It will be a 7 digit number. 

@Ian E.

IMO, I do not believe that you should have purchased a property without doing your DD first. Just because you missed out on the other one does not mean you should just jump on the next one that comes up. I have seen investors, including myself, make this mistake to many times because either their impatience or emotions gets the best of them. You should never rush into buying a property. If you miss out on one there will be another one that will come along. Caution should always be used when buying in a sellers market. My reasoning for this is because an investor can over pay for a property in a bad area, over pay for a rehab, or just buy the wrong property all together. I am not saying that this is what is going to happen to you but the risk is there. 

Closing docs - You should have received, by now, an email with a link that should provide you with all signed documents from the title company, not from Morris. If you have not received this then you need to contact the title company directly and ask for them. There should be a Warranty Deed in these documents that would have been signed by the seller, not by you. This would be the document that conveys the property over to you. If you want to know for sure it has been done, which I believe it has, then send me a PM with the prop address and I will confirm it for you or go to the Marion County Assessors site, click on "on-line mapping", type your address in, and pull up the property card. This will identify who the owner is. There are links below.

http://maps.indy.gov/MapIndy/

http://www.indy.gov/egov/county/assessor/marion/pa...

lol! 

@Matthew Schroeder

@Steve Lawson

This property was on market for 87 days for $180K back in June of this year and never sold. What did the seller do to the property to increase it to $195K or is that with your wholesale fee? 

This is a good buy for someone looking to buy and hold or flip in Indianapolis

Recent sold prop in the past year

1111 Reid PL $135K - 3/1.5

1108 Reid PL $147,500 - 2/1

1152 Dawson - $154K - 3/2

1166 Reid PL -  2/2.5   This property just went pending as of this posting for $189,990

Reid PL is the next street over from Dawson 

Sorry Corky, Not at that price in that area.

lol! Bob you are to funny. That last post proves you know nothing about the Indianapolis market. 

You keep regurgitating the same crap. 

Oh Bob, I never said you said that. I don't know where you got that. Stop getting your undies in a bunch. 

 I can make a property appreciate in a cash flow market. It's all about where you buy in that local market. No there will not be 9% growth, YOY, like there is in California but if you buy in areas that are being redeveloped you can get your appreciation. 

As far as those past years they mean nothing to me, why? Because it is the past and Real Estate can change and so can economies. Indianapolis is growing and redeveloping itself as a whole. Bob, like it or not, the city is striving to make itself better then it once was. They are succeeding. 

Just so you know I don't disagree with you when it comes to these people needing to look in there own back yard. They should before going to other locations. I believe there has to stil be some great buys out there. 

@Account Closed

I don't play the stocks myself that's why my analogy is not the best. My point is, is that there is no one way to invest. The investor has to make the decision on what will be best for them. 

And yes it is like comparing apples and oranges. These markets are completely different from one another. California (cyclical) Indianapois (linear) 

An investor can do well in either market. Even if you don't want to accept that.