All Forum Posts by: Josh Sohar

@Benigno Cunanan as stated before Indy is unique and very street to street even within the same neighborhoods.

There are some good up and coming areas, particularly fountain square, bates Hendricks, Herron Morton etc. most of those I mentioned are B/C neighborhoods but very popular areas

Let me know if you have more questions!!

Always open to discuss and network!

Best way is to talk to a CPA or tax professional.

First off like Mary said, you need to figure out which strategy you are going to use. Have you researched the area/neighborhood? Have you ran comps? If you are getting a loan for the property and don’t have potential buyers lined up then you could be waiting awhile which will eat away your profit quickly. I would figure out your lending 1st. Let me know if you have more questions.

There really is no way to save money on closing costs, they are an essential cost that will have to be budgeted. The only way to save money on closing g costs is to reduce the amount of the loan. The title company, lender etc all deserve to get paid for what they do for you.

Not sure about your area but in Indy it’s really street by street. So you have to spend some time evaluating areas.

Unfortunately the fortune builders seminar is mostly a hype game to get you excited to pay $20k for their magic course :/ I’m sure you can learn something during those 3 days though! Continue to use BP and ask questions, read the forums. Scout your local market for homes and use learn how to analyze flip deals. If possible, connect with a realtor in your target area and see what info hey can offer on what neighborhoods are good etc. I also suggest 2 books by J Scott: -The book on flipping houses -The book on estimating rehab costs Google them! Great resources! Feel free to reach out to me as well. Josh

Jaydn, Send me a colleague request

Ryan E. Send me a colleague request and we can chat more about the area if you wish! Always like to chat with like minded people!

Ryan E., Any A/B+ areas are going to be in the suburbs, or in the trendy areas. Good suburbs include, Greenwood, Brownsburg, Avon, Plainfield, Zionsville, Noblesville, Fishers, Carmel. Trendy areas inside the city include Fountain Square, Bates-Hendricks, Herron Morton, etc.

Kaydn, You will be hard pressed to find deals in that price range in the Indy area. There are a decent of properties in the $20-50k price range, however they are in the least desirable areas of the city, and will require a larger scale rehab costing $50-75k. Also the rents you will get even after rehab will still be very low because of the area, and you then have to deal with that category of tenant. All in all, likely your costs will be high and cash flow will be low, that’s before any turnover, tenant damage, tenant issues, etc