Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here
Pick markets, find deals, analyze and manage properties. Try BiggerPockets PRO.
x
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Shawn Duncan

Shawn Duncan has started 4 posts and replied 29 times.

Post: What does Quit Claim Deed mean?

Shawn DuncanPosted
  • Investor
  • Noblesville, IN
  • Posts 35
  • Votes 10

Very risky indeed,  You may end up with vegetation liens, sewer liens or mechanics liens from unpaid contractors.  All depending on your states laws of course. Bottom line a very risky way to purchase a property.

Post: Fix and Flip Indiana

Shawn DuncanPosted
  • Investor
  • Noblesville, IN
  • Posts 35
  • Votes 10

Looks like I spoke too soon, the people that followed up with me could not complete the funding due to other offers on properties being accepted or personal reasons not pertinent to the deal. If you have interest in this deal please send me a message and we can get in contact.

Thanks everyone

Post: Fix and Flip Indiana

Shawn DuncanPosted
  • Investor
  • Noblesville, IN
  • Posts 35
  • Votes 10

I want to thank everyone for all the response I got on this property and so quickly. It is looking like one of my current leads is going to work out on this. If you have interest in other projects I have in the pipeline or being updated on anything else in he future please send me a message and we can exchange information.

Thank you BiggerPockets!

Post: Fix and Flip Indiana

Shawn DuncanPosted
  • Investor
  • Noblesville, IN
  • Posts 35
  • Votes 10

I agree there isn't a fortune to be made, but this is a solid neighborhood. It will be very close to a new house when finished. The ARV is conservative. The rehab costs are estimated on the high side as well, I always estimate on the high side so I can be pleasantly surprised at the end. The numbers I show are worst case. They still fit in my personal investment strategy, I will not be paying a listing agent commission (my parents are both brokers) the profit should be in the $15,000 range after all costs including buyers agent commission. This won't be a flip to retire on but $15k is a good profit in this market on a flip.

Post: Fix and Flip Indiana

Shawn DuncanPosted
  • Investor
  • Noblesville, IN
  • Posts 35
  • Votes 10

Taylor,

My estimate on the finishing costs are always on the high side so there aren't any surprises and good quality finishes can be used. It may very we'll be $5,000 or so high but I'd rather be safe.

I'll send you and email and I really appreciate the help

Post: Fix and Flip Indiana

Shawn DuncanPosted
  • Investor
  • Noblesville, IN
  • Posts 35
  • Votes 10

I have a fix and flip on the South Side of Anderson, IN in a safe, family oriented, well- established neighborhood. I purchased the property at an estate auction and plan to close within 2-3 weeks. A complete renovation had begun prior to it being halted due to the owner’s passing.

Highlights on property:

Newer Dimentional roof (3 years old)

New windows

All new drywall ready for paint

New bathroom tub surrounds

Nice large floor plan and good layout

Ready to finish interior

ARV: $110,000

Purchase: $48,000

Rehab: $35,000

My cash in deal $18,000

Money borrowed: $65,000

Profit $27,000 (Not including lending fee's)

I'm willing to offer 15% On the loaned amount ($9750) for 5 months or profit sharing. If you are a private investor and have half of the amount I am willing to split the deal for 7.5% ($4,875) on $32,500. Fully secured loan. (The split will only work if there are two investors. I would rather keep it simple with one though)

I am new to the forum and don’t have a lot of posts so to make this as secure as possible for the lender, I will secure the loan with a lien on the property. I own other properties currently with no liens if anyone would rather do a loan on one of those instead.

Please send me a message or email for further details

Post: New Member in Northwest Indiana

Shawn DuncanPosted
  • Investor
  • Noblesville, IN
  • Posts 35
  • Votes 10

Welcome to BiggerPockets!

I just joined as well and there is a wealth of knowledge on here. If you need any help in indiana let me know, I'm from central indiana.

Post: New Member from Indiana

Shawn DuncanPosted
  • Investor
  • Noblesville, IN
  • Posts 35
  • Votes 10

Hey David

That sounds great I'm always up for getting together with others interested in real estate investing and sharing ideas. When this crazy weather passes send me a Message.

-Shawn

Post: New Member from Indiana

Shawn DuncanPosted
  • Investor
  • Noblesville, IN
  • Posts 35
  • Votes 10

Hi everyone,

I am a new member from the Hamilton County Area and extremely excited to have found this site and all it's resources. I'd love to network with anyone in the central Indiana area.

My background is I am a real estate investor with two real estate agents/ investors for parents, leading to me being around the business my whole life and learning a great deal from them. I am currently working my 4th property and will post details for your interest in another post.

Looking at 2014 I plan to purchase a couple multifamily properties to hold (currently have offers in on two duplexes) and flip 4 properties myself and partner on others.

Thanks for building this great community.

Don't be a stranger if you are in Indiana!