All Forum Posts by: Derek Gendig

Hi Dawn.  The home is located in the immediate downtown area.  It is approximately 1 mile from the downtown mall, convention center and major attractions within the city (Lucas Oil Stadium - where the colts play) & Bankers Life Field House - where the Pacers play. The area is mostly blue collar.  Compared to the city as a whole, I would rate the area a C to C -.  

147 Villa Avenue,Indianapolis, IN.  

3 bedrooms - 1 bathroom - 1,272 sqft  

This home was completely rehabbed in the fall of 2013.  Home has tile in the kitchen, entry & restroom.  Siding is concrete-board.  All mechanicals, including central air conditioner, are new.  Rent is estimated at $720+, semi-annual tax of $361.  This home literally is rent ready / portfolio ready, no work needed.

Private Financing Terms:

Purchase Price: $49,500

Loan Origination Fee: $0 - Paid by Seller

Interest Rate: 8.99%*

Loan Term: 12 years

No pre-payment penalties

Call Todd for additional information.  317 - 331 - 8496

The Indianapolis Rental Home Market is a great market to realize High Cash-flow, Low Entry Cost Investing Strategies.  We are a local Property Management Company that represents an Indianapolis Based Company that produces some of the highest quality Multi-Family homes in Indianapolis.  We have been authorized to locate and work with investors & investment firms not already within the network to locate investors looking to create a high cash-flow multi-family portfolio in Indianapolis.  This market has been recently turned on its head by 3 extremely large hedge firms and a handful of smaller funds/REITS gathering up the "crumbs" these larger firms are leaving behind.  With that being said, we have access to a portfolio of 16 units (8 buildings).  These units are rehabbed, have been inspected (inspection reports can be provided upon request), and are ready for tenants (approximately 60% already have tenants, all Open Market no Section 8).  These units come with a 6 month warranty on workmanship and include many low maintenance finishes with a focus on new mechanical's (Plumbing, Electric & HVAC).

With all that being said, we are in a position to pay $4,000 per deal for anyone who connects us with an end buyer.  Funds will be paid at closing and will be distributed by the title company.

Your buyer DOES NOT HAVE TO BUY THE ENTIRE PORTFOLIO.  We are open to selling these 1 home at a time however we do prefer to sell them in groups.

The current portfolio is comprised of the following:

1 Four Unit Building.  All units are 2 bedroom 1 bath.  900 sqft each.  Gross Monthly Rent @ $2,578.32.  This building currently has 3 units rented.  It also has an all concrete block 3 car garage located directly behind the building.  We have not accounted any income generated from this garage into the gross monthly rent.

5 Duplexes.  There is a mix of 1 Building with 1 bedroom 1 bath per side (Gross Monthly Rent at $1,170), 3 Buildings with 2 bedrooms 1 bathroom per side (Gross Monthly at $1,300 per building) and 1 Building with 3 bedrooms 1.5 bathrooms per side (Gross Monthly at  $1,396).

1 SFH with 3 bedrooms 1 bathroom. Gross Monthly Rent at $801.66)

1 SFH with 2 bedrooms 1 bathroom. Gross Monthly Rent at $736.66)

If you are interested in seeing more financials, photos, obtaining addresses or have any questions about the portfolio you can message me through the forum or email me directly at [email protected].

We have a client looking to sell their beautifully rehabbed SFH home in Indianapolis. The home was rehabbed in the fall of 2013. The home is currently leased for a term of 1 year at $736.00 per month. This home is Amazingly priced at only $47,500! What a fantastic Cap Rate! See below for some pictures of this beautiful addition to any portfolio.

Purchase today, collect rent tomorrow! Instant return on investment!

Property Details:

3825 North Tacoma

2 bedrooms 1 bathroom

Hardwood floors throughout

1 car detached garage

Fully fenced front and rear yard

Semi-annual tax $537.00

776 square foot on a basement

Air Conditioner

New Vinyl Windows

Lease Terms:

1 year lease (started 10/23/13)

Rent of $736.00 per month

In addition to the screening required, there may be quite a bit of targeted marketing to be done to find the correct fit between renter and property. We are a Professional Property Management company in Indianapolis and we charge the first months rent as the placement. We do not charge for any marketing, professional photos for marketing, signage, lockbox, prescreening callers, background, credit, financial checks. There is quite a bit of education, network and experience needed to place the correct tenant. If you were to try to do it yourself, without these things, it may cost you more in the long term depending on how long it takes for you to find the right person. Obviously, I am not aware of your level of placement experience so I am not saying you can or cannot do it yourself, I only wish to provide additional insight.

REIA meetings can definitely be pitchy and seem unproductive at times. I too have mixed feelings about the groups however, you do occasionally run into someone or something that you can take away as beneficial. The thing to remember is that no one will tell you exactly what they are doing or exactly how they are doing it. With the being said, gather as many cards as possible, listen in on others conversations and remember, you gonna have to do it your way if you want to have real success. Successful real estate is done by finding out where you excel and making it your own.

Hi Steve. Do you have any Fix N Flip opportunities outside of Center Townships? We are looking to be more active in the Owner Occupant Arena.

Hi Ben. The address is 2354 - 2356 Carrollton Avenue, Indianapolis, IN, 46205.

This 4 unit dwelling in Indianapolis was completely rehabbed in 2013. Rehab included but was not limited to: New PEX Plumbing, New Electrical, New Furnaces, All New Kitchens and Bathrooms, All New Low Maintenance Finishes Throughout, New Exterior Doors & Too Much More To List. Currently 3 of the 4 units are occupied. Gross Monthly Rent on all 4 units is $2320. This does NOT include the 3 Car detached garage located in the rear of the unit. This home is priced to sell at $196,999.