All Forum Posts by: Account Closed

@Jay Hinrichs

Are we really going to go through this again? It's funny, I'd like to know why this Clayton guy doesn't come on here and speak for himself. 

@Aaron Mazzrillo

In my opinion I wouldn't waste my time with him. He's not some big investor out here in Indy. He's just trying to play on a market that is HOT right now like everybody else. 

@Cory Deeter

Welcome to BP. All the advice given here is right on. You should implement all of it. I will add one more thing when looking at the property. From what you explained and the price point I would be will to bet the house is built in early 1900's. Which means there is a basement. Check the foundation, walls and floor.  Take note: don't be fearful should you see water. Most basements will get some kind of water in them from time to time. This shouldn't be a reason not to buy. You will know if the basement does get water because the laundry units, furnace, and water heater will all raised up off the ground. 

Just for my own curiousity what neighborhood is this property located? 

@Joe Ellis

You asked a question about what was Indianapolis's biggest revenue producer? I answered, Anthem. I didn't answer your second question, because I do not have the time right now. 

Here is some links that will answer your questions that you have. The information is from the Indianapolis Chamber of Commerce and other sources. 

http://www.city-data.com/us-cities/The-Midwest/Ind...

http://population2016.com/population-of-indianapol...

http://www.msn.com/en-us/money/companies/the-large...

Feel free to call me if you have any other questions. I will be in the field looking at properties. 

@Joe Ellis

Anthem 

@Jay Hinrichs

That's exactly what I am talking about. Investors just have to open there eyes and look around them. 

I have already spoken to @Chris Gerenser on the phone so he knows my take on the Indy area and what to expect.

Everything that @Jay Hinrichs and @Chris Clothier have been saying is pretty much right on. Jay has also been giving out some very valuable info, not just on this post but this one to:

https://www.biggerpockets.com/forums/48-general-re...

Can you make money on $40K properties, yes, if you're a local investor or you already have experience with investing. I DO NOT advise newbie investors to buy these types of properties. If you are buying a $40K TK property in Indy then the property is going to more then likely going be in a middle to low income area. Rent ranges from $525 to $650. There is one thing to remember about Indy it is a street by street basis. This has been said time and time again here on BP but it still needs to be mentioned. One street can be Disneyland and the other street can be gang bang central. It still amazes me how these streets do not bleed over into one another. 

If all you have is $50K to spend then I suggest looking locally. I don't think newbie investors should be straying to far from home. I have seen to many get burned. I know, if you live in California then you can't buy anything because it's to expensive. I personally think that is not true. I think the investor who thinks that needs to look harder or do better research. Sometimes you just have to be creative. 

For Disclosure: I do and have owned $40K properties and with the right leasing company and PM you can be successful with these properties but I am local to the market and none of properties were TK's. 

@Pamela M.

I use @Derek Lacy. He is a BP member. He should be able to help you with your ins needs. 

@Violet Stanoev

Go to your local REIA meet ups.

@Hernan Vergara

Welcome to BP.

Go to the CIREIA meeting on July 7th. You will get all your answers there. They are having round tables with Wholesalers, rehabbers, Property Management, and others. Go to meetup.com to find out about time and place. You will also find out about other meet ups in the area through meetup.com.

RE License: Google, Get your real estate license in Indiana, this will bring to a bunch of links. I suggest that you look into Tucker Real Estate School. I know of a bunch of Realtors who have gone through Tuckers school and said that it's a great program. 

Bigger pockets: Start listen to the podcast, check out the forums, ask questions, look into purchasing some of the books, etc. There is a lot of great information in this site. 

My last suggestion to yo is to network with as many investors as you can. That will be the key to your success, that is just my opinion. 

To the Moderators: Full disclosure: I am NOT affiliated with, work for, or receive compensation of any kind from any of the groups or websites that were mentioned in this post. 

@Adam Ulery

Not a problem. My suggestion would be to stay south of 16th street if you are looking in this area. 

Little Flower

Emerson Heights

Bosart Brown 

Irvington - which is on the East side of Emerson Av. 

These areas are better buy and hold areas, in my opinion.