All Forum Posts by: Brian Dean

I had some one else analyze this property and he thinks the best this property could sell for after rehab would be $129k which I think you would have to put close to a $100k in it to rehab it. So this big ugly house is probably not worth messing with.

Like I said earlier I posted this just to see what kind of response I would get to see if it would be worth me making an offer. I have learned a few things.

You were very brave to walk through that house, the smells and mice droppings were pretty bad. Some smells were pretty bad.

I am new at this and was just seeing what kind of interest there would be for a big ugly house in Indy. The house is in a industrial/residential area so not the best area. The house does have potential for good profit with a lot of work. This is based on what my real estate agent has told me.

I have learned not to post here unless you actually have a property under contract. Lesson learned.

Are you asking these questions because you plan on investing in the Indianapolis area or are you just trying to help me out?

I realize that but before I was going to make an offer I wanted to see if I got any response on my post. I wanted to see if any one on this site would buy a very ugly house that could make some one some good profit, it would just have to take a lot of work and funding.

Yes I am wanting to wholesale it, I have not made my offer to the owner yet. It has 4 bedrooms and 3 bathrooms. It is on the market and it is listed as a short sale. They are asking $80,000.00 for it, I was going to offer $40,000.00 because of all the work that needs done. The comps are around $175,000.00

If you want to make some good money on a flip this might be the one.

I have found a big ugly house in Indy that actually has potential with a lot of work. Did I happen to say it was ugly, well the out side is not to bad but the inside has to have a total rehab once you move all the crap that has been left in the house. The house is 3800 sq ft finished and about 900 sq ft unfinished. (The basement ). It was built in 1939.

If anyone is interested let me know and we can see if we can work out a deal.

This house is ugly.

How hard is it to do a double closing these days?

Does anybody have any info on how to use discount notes to buy property and do a double escrow to close the deal?

Dev and Shawn thanks for the info it helps.

Thanks,

Do you mind if I put you on my buyers list and I will let you know when I have something you might like.

Adrian,

Thanks for the info. I plan on meeting with a real estate attorney to make sure I am not breaking any laws.

Hows the weather in Colorado, I use to live in Colorado Springs about 10 years ago. I also lived in Denver and Greeley now I am baking in Alabama when I am not in Indiana.

I am getting started into real estate investing in the Indianapolis, Indiana area and I just heard from a morgage broker that using the Find and Assign method no longer works or is not legal in Indiana.

Is this true?

Brian