All Forum Posts by: Jeffrey Evans

@Luis Perlish and my taxes on it are less then 500$ a year. 

@Luis Perlish I got a cheap little place on the west side.  40212 zip.  The whole west side is older and cheaper area.  West of the hwy 264 seems a little better then the areas between the 264 and down town.  I pai 60 and rent is 825.  I didn't rehab it or anything since it had a tenant in place and they wanted to stay. 

I have 1 sfh in Louisville.  I visited a couple months ago and like the town.  Good people there.  I also have one in Tx but the taxes are a lot higher and harder to find good deals in a lot of Tx areas. Louisville still has good price/rent ratio and low taxes.  

Nice!!  Getting started is the hardest part!!  

A heloc is tougher to qualify for and get on an investment property.  interest rate on a cash out refi is usually better.  

@Casey C. my path has been similar to yours, also being from the bay area.  I Was looking in Indy and ended up getting a place in Louisville.  I like both and plan to get properties in both area.  I recently visited both cities and like them both.  I thin Indy is very street by street.  Good Idea to have reliable people there to vet a place and its area.   Louisville felt like the neighborhoods are a little more established and less block by block.  I personally don't feel like you have to spend 150k to get deals in Louisville.  With older cheaper houses comes more risk ect, but the rent to price ratio can be pretty good if you find the right places.  Good luck and fell free to reach out.  

Can the infinite bank with whole life be set up were I can fund a larger amount when I open it and then decrease that amount in the following years?  For example if I have 50k in reserve in the bank can I put that all into the IBC and then the next year go to a more standard rate of contribution like 500-1k a month?  Also I have heard people claim they can access some of the money via loans ect in 3 months of opening it but I have heard others claim it takes a couple years.  I assume this all has some degree of variability based on how the policy is structured ect.  

I would say you need a good agent/whole saler in the area to help find the deals, good property management good GC if going to do brrrr or add value type deals and a good lender being hard money and traditional finance team.  I agree that any area can work if the numbers work.  But at the same time I wouldn't recommend buying in D areas or war zones or anything.  I like the in between.  Hard to cash flow in A and B+ area unless you get a killer deal.  plus in those areas the people that can afford to rent usually end up purchasing.  I like the B-to C- neighborhoods since the type of tenants that live there usually are not goin to leave right away and purchase.  Turnovers and vacancy can be a cash flow killer.   

I just visited Indy and went to the Mainstay guys out of state symposium.   I picked a place up through them in Louisville KY but they do a lot of deals in in Indy.  I plan to do some there.   Indy is pretty unique that it is very street by street for how the house and neighborhood is so its good to have people you trust there with boots on the ground.   I don't think that area is going to appreciate like an Austin or anything but it cash flows well and will have slow and steady appreciation .