All Forum Posts by: Kevin Douglas

@Arya S. In regards to appreciation, again my Money is on Indianapolis! The Bay Area has ran its course, how is the growth rate sustainable? It’s not. Indy is a huge metropolitan market with serious untapped potential with political views that will become more and more popular as time goes on. If I had $100,000 to invest (and I do) I’m staying away from the toxic political environment that’s California… 😃

@Jaron Walling @Arya S. Shots fired! What’s the better Market? Indianapolis or West Coast city’s? I personally own in both! Seattle I’m collecting about $2,800/ month per unit in a B+ area that are currently valued at $550,000/door and my Indy investments collect $1,600/door valued at $175,000/door, also in a B+ area. My vote is for Indianapolis! 

Thanks @Jay Hinrichs ! I think that's an ok option and is something that the lender suggested. I'm wondering if there are any lenders that would still lend without that formal partnership or the single purpose entity with a GC. Maybe a local credit union or bank?   

Hey BP - The hard money lender that I have built a relationship has an experience requirement for their new construction loans. To get the financing you have to have preformed 5 successful new builds, to prove you have successfully completed new construction projects. It makes sense as an underwriting term to de-risk their loans but it puts me in a chicken or the egg situation. While I have done 14 deals with them this year and have experience with heavy rehab, I don't have any ground up experience. I would really like to get into new construction, but don't have a great lending option, at least that I'm aware of. Any suggestions or advice? Thanks! 

Hey Brian- Congrats on the Duplex! I have a contractor I work with in Indy, they do rental turns all the way to down to the studs renovations. Happy to share my experience. Feel free to DM me

@Jon Latorre what are your rates for STRs? DM me if you don’t want to share publicly 

Happy to help Cameron! I have a portfolio of rentals and am growing my short term rental business here in CDA. It’s a hot market!

Agreed with everyone on this thread! Pay off the credit cards, then use the additional cash flow that was going to pay the credit card to save for the down payment on your next investment! 

I'm looking forward to attending this event for the first time next Thursday! 

Thanks for the input @Jeffrey Donis I agree, relationships often win! The problem I’ve ran into it it’s a two way street and have found that I have better luck having a wide net and am open to doing deals with anyone as long as they can bring a good deal to the table. 

@Jonathan Greene From my perspective, I feel like wholesaling / finding off market deals is a business in itself. Right now I'm really focused on the repositioning side of the business and have financing partners with really good terms and great contractors lined up to make it happen. I'm not sure if the ROI on my time would be as high if I started marketing myself. I may be wrong, everyone is suggesting I start doing my own marketing. Do you have any tips on getting started doing my own marking? I've been thinking about stating to do that in my own market in Northern Idaho. I'll check out deal machine, I've also heard of the carrot websites. The big hangup for me is the reassignment contracts piece. Do you know of any good resources for learning more about that? Thanks!