All Forum Posts by: Jithin Yohannan

@Rodney Kuhl

Thanks  I appreciate your point. I certainly don't want to overpay if I don't have to. 

@Phil DuChamp

Mentioned there is a check in place with the lender evaluating the value as 

well. I can re-negotiate if the property does not appraise.  

Additionally, Many of the comps were 3/1.5 while this property is 4/1.5. Some comps were also  within the 70k price range. 

@Phil DuChamp

Thanks @Phil DuChamp!

The turnkey has recommended Brick Lane Property Management.  

Hi All,

I am in the process of buying my first property through a reputable online turnkey company in which does buisness in Indianapolis. 

It is a 4/1.5 bath located in the Lawrence neighborhood on 52nd street. Asking price is $75k (firm) and there is a tenant in place that is paying $900 a month on a lease through September 2018. From what I can tell the rents or accurate for the neighborhood which has a C crime rating and is in the Lawrence metropolitan school district (some schools getting 8 or 9 out of 10 scores). The inspection report was pretty positive, roof is in average condition and will need to be replaced in 3-5 years. HVAC is good with 10+ years of life. 4 windows need to be replaced at the next turn. 

The issue is the comps have come in between 32 and 60k. Though there are some individual properties on the comp sheet that have a value well into 70k.

My question is would I be safe buying the property based on the income stream alone. My strategy is to buy and hold for the long term. I will be financing with either 15 or 20% down and an interest rate a bit north of 5%.

Would love to know your thoughts!

Hi All, 

I am in the process of buying my first property through a turnkey company in Indianapolis. It is a 4/1.5 bath located in the Lawrence neighborhood on 52nd street. Asking price is $75k (firm) and there is a tenant in place that is paying $900 a month on a lease through Septemper 2018. From what I can tell the rents or accurate for the neighborhood which has a C crime rating and is in the Lawrence school district (some schools getting 8 or 9 out of 10 scores). 

The issue is the comps have come in between 32 and 60k. Though there are some individual properties on the comp sheet that have a value well into 70k. 

My question is would I be safe buying the property based on the income stream alone. My strategy is to buy and hold for the long term. I will be financing with either 15 or 20% down and an interest rate a bit north of 5%. 

Would love to know your thoughts!

What is your take on the Brookhaven neighborhood, zip code 46226. Specifically 52nd street just west of route 31?

I am an out of state investor thinking of investing in a turnkey here. Looking for good, stable cash flow and modest appreciation.