All Forum Posts by: Johnathan Lomax

What type of houses are selling in Indianapolis ?? I've never lived there but I'm right on the border of Indiana about an hour or so away in Danville IL so I visit often. Just from looking online I've noticed there's a lot for sale but also what would be good areas to invest in?? ANYONE feel free to leave a reply. Just want to get better educated on the market in your area I've always been interested and since I'm so close why not !

Oh okay didn't know it was that simple thanks Ed! I'll definitely be on the look out also

In my opinion and from what I've observed there is a strong demand for rentals the ones that go the quickest are the 2/3 bed one baths from 500-800 a month. We have a local Facebook page where everyone post what they have for sale or rent and other people post what type of rentals their looking for and those 2 and 3 bedrooms go fast.

What type of loan would I apply for if I wanted to use it to fix and flip???

I live in Danville IL and it looks like everything is for sale low prices homes rent ready anywhere from 15 to 30k and of course your older run down houses 3-10k all different types of houses in different conditions. I do know This is a big renting area not a lot of people buying but I have notices houses are selling for 50k to 140. I'm just not sure which route would be less of a risk fix and flip or buy and hold. I check realtor.com every other week and still see some of the same houses still not sold, so I would guess it would be a good idea to buy and rent out one of these properties since no one is really buying ?? I'm definitely not for sure ANYONE feel free to reply with any insight you might have on this type of market, am I on the right track???

Ankit your uncle is right, Danville has definitely lost a lot over the years and I will continue to educate myself on the market before jumping in. For some reason I have this faith in Illinois and despite all the debt at some point I'm hoping my home state will pull itself together and when that happens I want to be able to help with the rise starting in Danville. I haven't been able to connect with anyone that has worked with this type of market so if you know of anyone that has experience in it I'd love to connect with them. Also, do you have any suggestions on exit strategies ? I've been over a few but I'd love to have your opinion on what would be a good one to use, I definitely wouldn't want to buy myself into a trap. One last question I had was what would be a good way to examine deals? separate the good from the bad when it comes to fixer uppers. Anything other information you think would be helpful id love to hear it thank you again Ankit for your reply it was very very helpful.

I am new to BP also new to real estate investing I've read up and studied a bit and I'm ready to jump in. There are plenty of deals to work with in my area, for example one guy has multiple houses for sale on contract all less that 10k he wants 1k down and 500 monthly they all obviously need work. it's so much that I can see coming out of them I just don't know were to start and I definitely do not want to get in over my head. There are also houses for sale under 20k that are move in ready and with a little more work they can be even more valuable over time. I really feel like I'm onto something but no one in my area seems to be interested. I see people all over the local Facebook for rent page looking for homes to rent. I need help figuring this thing out because it could turn into something big.

I am new to BP also new to real estate investing I've read up and studied a bit and I'm ready to jump in. There are plenty of deals to work with in my area, for example one guy has multiple houses for sale on contract all less that 10k he wants 1k down and 500 monthly they all obviously need work. it's so much that I can see coming out of them I just don't know were to start and I definitely do not want to get in over my head. There are also houses for sale under 20k that are move in ready and with a little more work they can be even more valuable over time. I really feel like I'm onto something but no one in my area seems to be interested. I see people all over the local Facebook for rent page looking for homes to rent. I need help figuring this thing out because it could turn into something big

I am looking to make my first flip, very small nothing major but before I make any moves i want to get a better understanding of closing. How would I go about finding a tittle company? and if I can use my own contact.