All Forum Posts by: Jim McCabe

Hello to all of BP!  As the subject says, I am IN!  I have an agreement in hand for my first rehab/flip property.  We will close in a couple of weeks and I can't wait.  The property I am flipping is in Indianapolis (Beech Grove) to be more precise.  I think have a good deal on my hands and ready to make it happen.  

Hi @Sheryl Griffin.  Send me a PM as I may be able to assist as well. 

Thanks,

Jim

@James Lower I will send you a PM

Hello All! I am looking to build my cash reserves to get my business underway. I have some money now I want to invest with qualified investors or enter a JV with. If anyone is interested please send me a message.

I have a property I am looking at currently. I think I can get it under contract for $55k. Its ARV is around $110k. I was looking at this as a flip and sell project. However now, I am think I could rehab it. I estimate $15k to get to the ARV. Then refinance it for $100k as soon as I was done. Pocket the cash out and rent the property. I could pull in a couple hundred dollars in cash flow as well as the lump cash out which I estimate would be more than what I could get for selling one time. If I understand correct that cash out is tax free whereas selling it is not? What am I missing in this scenario?

 @David Short, I sent you a PM, cheers

Just saw this myself but I am very interested in future meet ups

L.D., 

I am new to the real estate investing business myself, but born and raised in Indy.  Please feel free to contact me.  I'd be happy to show you around the area and help you out anyway I can.

Hi BP folks! Let me start by introducing myself, I am Jim McCabe from Indianapolis, Indiana. I am new to BP as well as real estate investing. I am working hard to find my first deal. I have ran across a property in a hot area of town but not sure exactly how to analyze the deal. I am looking for anyone local or maybe not who might be interested in going through the details, possibly setting up a JV if the deal is as good as I think it is. It would be a rehab project. Anyone interested, I would love to chat with you further about this. Send me a message and let's connect.

Sorry if this isn’t the right place to post this, but not really sure where it fits best yet