All Forum Posts by: Derek Gendig

I work with a brokerage that provides access to turnkey real estate investments to include property management (if desired).  To this point, we've only worked with individuals that acquired funds on their own.  As things have grown, we've realized that should we offer a financing solution with the homes, more investors would purchase.  I believe this to be because most people don't know where to seek funds outside of traditional loan products from a bank.  With that being said, we have not offered any possible financing solutions in the past mainly because we too don't have a relationship with a proven lender who understand that value in real estate investments and the cash-flow they generate.  

Can anyone give any insight as to where we might begin our search for a credible lender/financing component to add to our business referral list?  We are completing a new website for our growing group and are considering placing an application directly next to the available homes as a way to streamline the process.  Any thoughts on this? 

Thank you in advance.  

Hi Tom!  Welcome to BP as well as to the world of Indianapolis Real Estate.  Congratulations on getting your first deal under contract.  My philosophy is that you can get "paid" on every deal.  Some payments will be in the form of green paper and some will be in the form of education and experience.  Sounds like you just got your first payment!  Good for you for seeing it for what it is and staying positive!

As you get more properties under contract, keep me in mind.  I am always looking for properties to buy.  

Best of luck and I'm sure we will run into one another at a local event soon!   

@Jerry W. & @James Wise thank you both for your input.  As I mentioned to Jerry, I appreciate you both taking the time to assist a fellow investor.  When posting deals that you believe to be true opportunities you want to be sure you are reaching maximum exposure to those who are interested in buying.  If you think of any other phrases or have any other thoughts, they will always be welcomed and much appreciated!  Thank you both.

I'm curious...what keywords are you using to find property deals on BP?  Of course, there are the obvious ones like "wholesale", "turnkey", "cash-flowing" but what words do you search when you look for homes to buy on BP?  

I am located in the Indianapolis market.  Indianapolis is known for steady cash flow with low financial entry points.  Indianapolis is littered with wholesale and cash-flow opportunities.  We don't see much appreciation, by not much I mean we are only behind Puerto Rico!  The upside to do that we don't see much of the down side during times of national depreciation.  Anyhow, I am working with a "wholesaler" in our office to help build a buyers list of serious buyers looking for both wholesale as well as truly turnkey homes and was just wondering....what keywords do you search when looking for opportunities on BP?  Any help is greatly appreciated! 

@Linnea Minnema welcome to BP!  I am a PM and Broker in Indianapolis.  Please feel free to use me as a resource as you see fit!  

Hello Sonya -  Always good to see more Hoosiers getting involved in real estate.  I am a cash buyer when you come across deals.  Please keep me in mind.  Also, our group offers PM Services as well as Brokerage and Construction Services.  I look forward to working with you!  

Thank you @Michelle T. for the recommendation.  @Account Closed I too am sorry to hear that you are having a difficult time with your PM nor have I had any experience with RPM.  Distance being an issue for you, a good PM can be the difference between a successful investment and a money pit.  If I can be of any assistance please don't hesitate to reach out.  Best of luck to you in Indianapolis!

@Joseph Quinones greetings for Indianapolis!  I am a local property manager as well as investor/flipper/general contractor.  We are always buying and selling investment homes in Indianapolis.  Do you currently have a buyers list?

Rehab on this home has just been completed.  Tenants currently being screened.  Tenant to be in place can be negotiated.  Professional management in place if desired.

Details:

1,440 sqft, 3 bedrooms, 1.5 bathrooms.

Rent: $900/mo , $10,800 annually

Tax Assessed Value: $84,100

Purchase Price $69,900

PM For additional details.

I'm looking to expand my network and work with some BP members that offer financing. 

We have several JV partners we are working with now but we are looking to reduce some costs, broaden our horizons and establish a few new relationships with some money groups. Currently, we use our funds to purchase, fix and flip homes to end users as well as create cash flow properties in our local market for out of town / out of country investors seeking cash flow. Additionally, we have a portfolio we would consider refinancing if there terms were favorable.

 We have references, experience and knowledge of our market.  We are licensed General Contractors, Licensed Real Estate Brokers and have a Professional Property Management Company.  

If you have worked with anyone on BP and would like to share your experience, good or bad, I would greatly appreciate your input.