All Forum Posts by: Jessamyn Smith

That sounds very reasonable Ehsan, thank you.  I just purchased a list today and will probably go that route.

All great ideas, most of which I hadn't considered!  That's a good point - I could benefit more from keeping my cash and practicing analyzing.  Also love the creative ideas about working with realtors.  Thanks for taking the time to help.

I analyze small multifamily homes (my preferred property type) that are listed for sale and that I receive from a realtor.  The few that cash flow acceptably are usually already contingent and get snatched up immediately.  So I'm looking into direct mail.  I started finding properties that are not for sale, and I want to mail the owners, but my question is this:  is it more efficient to analyze each one and then mail out; or mail, and then in the few cases where I receive a reply, analyze and find a deal with it that cash flows?  I'm leaning toward the latter but then you're out more mailing costs even for properties that might be highly unlikely to cash flow regardless of how you structure the deal.

Then, ANOTHER question:  I understand one benefit of this method is avoiding realtor costs.  But say I wanted to use a realtor still because I have never once bought any house, and am not super confident with the process.  Does this defeat the purpose?  I would think no because there are still other benefits for me, but was curious about your thoughts on it.  I understand it's one less negotiation point I'll have with the potential seller.  

Thanks for your ideas.

Since small multifamily homes (2-4 units) are considered houses instead of commercial real estate, are they all zoned as commercial or residential? Both? Neither?  Trying to figure out financing options.

This was really informative and exciting to read!  Thanks so much for sharing!

Thanks everyone.  This is all very helpful info

Hi!  I've been hoping to simultaneously find a place to live (right now we're living with parents in Illinois) and acquire a rental property.  So we're looking at small multi family homes (preferably 3 or 4 plex).  I have not had much luck finding something within these parameters in or near Indy.  I have been looking in west Indy, Avon, Brownsburg, Plainfield, Speedway types of communities, but there are very few of these property types in these neighborhoods!  Does anyone know of any other areas in or near Indy that would be safe to live and great to invest in?  Not interested in Lafayette or Lebanon.  Is Crawfordsville a decent place to invest? 

Thanks so much everyone for your support!

Hi!

I'm currently in Champaign, and most likely will do my investing around Indianapolis.  I was born and raised in Lafayette, Indiana.  The plan is to save money living with my husband's parents here in Illinois and then next year get a small multifamily near Indy, live in one unit, and rent out the other(s).  A local investor here in Champaign-Urbana recommended Bigger Pockets to me and I am so glad he did.  

I'm interested in real estate investment because I work extremely hard, and at one point realized I should do that for myself, and not for someone else, barely scraping by.  I've never been able to find employment where I felt fulfilled.  My reason for pursuing real estate investment is probably not unlike yours - I want financial freedom so I can enjoy life, especially my family.