All Forum Posts by: Logan Sanford

@Gabe G. Great input and I appreciate sharing more about that. Cleaning up after a bad tenant (Hoarder, evictions, etc.) can add up in expenses and then cost more to fix stuff that was not budgeted for. 
There is plenty of old duplexes on College Ave and surrounding streets in Broad Ripple, which can offer great cash flow, but also can lead to future headaches if you aren't careful with budgeting for certain expenses like CapEx.

$34K is definitely not a loss so good work! 

I agree with @Michael S. Having a team, whether a brokerage/investing firm or a friend that is a partner, it allows for more flexibility and often less hours for yourself dedicated to deal finding if you have a team that is contributing too. This is pretty common for investors who invest out of the state they live in and who rely on those who know the market, can drive to see the neighborhood/physically walk the property, etc. 

@Gabe G. Hey Gabe! Thanks for sharing this about your deal. I think it is just as important to share or reflect on the negative experiences of investing than it is highlighting the positive outcomes. I am not as familiar with Emerson Heights compared to other neighborhoods in Indy, just curious, what were the reasons for the tenant quality issues? I am sure one year of conflicting tenants can be a headache, but I wanted to see if there were any common themes since it was year after year. 

@Roger Hall Congrats Roger! Appreciate all of the insight on your learnings and how the deal went! I like how you added value to the home and to the Bates Hendrick neighborhood!

Hey @Allvin Dsouza! First off, I agree with @Jeremy Johnson on checking for flooding issues. Being in a flood plain can be an immediate "no" for investors for good reasoning as it can have a negative impact on your forecasted cash flow. 

The company I work for currently has a few PM units that are SFH in the Fountain Square neighborhoods. I think finding high quality tenants can for sure be a headache for some over there and other problems like crime can arise in certain locations as well. However, I think tenant screening process is crucial in terms of leasing your property and can lead to a better scenario for yourself & property management. We have found that detailed screening processes allow for higher quality of tenants, especially in an area like FS that has a mixture of young professionals but also areas that are just starting to gentrify.

I would be happy to connect more and shed some light on how the numbers as well as our experiences have been with working with investors and managing/finding deals in FS. 

@Maxwell Wuensch I just PM you so we can chat more about it!

Hey @Maxwell Wuensch! Welcome to BP. I agree with Mia, there are plenty of options/opportunities, it just depends on what your investing plan and goals look like. You are in the right place to learn more about the Indy market and what neighborhoods or types of investments work best with your goals.

I would be happy to chat with you about those goals and more about investing in Indy.

@Mike D'Arrigo Thanks for sharing, Mike. I think affordability and cash flow are typically at the top of the list for most investors, but I am glad you shed light on the demographic trends and redevelopment features as well. 

I also talked about a key indicator of the Indy market being the rise in home prices as well as the year-over-year forecasted appreciation and the impact of the solid business environment across the city. 

Thanks again for the feedback! 

@Cullen W Jones Hey Cullen. Love the post! I send you a PM to further connect. 

@Stephen Brown Yes it is. I was able to do conventional financing at 3% down with a local bank in Indy and they were great to work with. I am planning on doing more rehab this spring and will hopefully refi in the next year or so. The area could potentially turn it into a long-term rental or possibly selling to use the equity for another home & investment property.