All Forum Posts by: Logan Petry

Looking for a little inspiration into my financing portion of my business 

My situation 

25 year old recent college grad investing in the Indianapolis market. Currently living in California tho. Have a small team doing most of the initial viewings for me. Looking at properties under 100k. Have about 15k reserved right now 

My strategy 

Small multi families. Want to close on 10 doors before 11/17 and then double my doors by 11/18. Wanting to eventually progress into large multi families 

Biggest issues I'm having now, besides just seeing more deals, is financing. Conventional loans have been tough for me to qualify for 1) not a long credit history 2) don't have a large reserve 3) living issues (I won't be living in the property I'm buying so no FHA and my high cost of rent currently doesn't look appealing to most lenders)

Any ideas on approaching this issue would be greatly appreciated 

Hey everyone new investor here looking in the Indy region, specifically Fountain Square, Bates-Hendricks, and Garfield Park areas. I started this journey a couple of months ago and have been working with a great Realtor but am still having issues. I know its a matter of increasing my funnel and seeing more deals in front of me. Looking for advice from other investors in the area and would love to discuss working with any wholesalers around. Besides seeing more leads, I would love to get some local input on Property Management companies and any you would recommend. 

Cheers Everyone 

@Mike D'Arrigo and @Carlos Altamirano I would love to sit down and discuss with you both opportunities and gain some more insight into the Indianapolis market. I have been away on a nice camping trip the past two weeks and have been unplugged but I'm looking forward to speaking with you both. Let me know when we can set something up 

Jerry Padilla I'd love to talk about some financing options as I will have to be creative in my approach. I know I won't qualify for low interest rate conventional loans as most of them require you to live in the property. I do however have the ability to acquire a transitional loan with a 20% down payment but would have no wiggle room for the reno

Mike D'Arrigo I'd love to bounce a few things around with you when you have some time. Mainly I would like to focus on some of the details and lessons you've learned from being an out of state investor. I'll be reaching out soon

Brett Snodgrass thanks for reach out. I will be sending you a PM before long to bounce a few ideas around. I definitely NEED to become more familiar with the Indy market before feeling comfortable. I was born and raised in Indiana and moved out to California a couple of years ago after college. I know a lot has changed in the market place since I've been gone

Hey everybody, I just wanted to reach out as a new investor. I've been lurking on the website for quite some time now and feel that it's time to take the leap. I've done my research through books and podcasts and will continue to do that, but I'm ready to start taking action. I'm a guy in my mid 20's with a goal of retiring early by creating enough passive income to fully replace my W2 income plus some.  I'm currently residing in Manhattan Beach, CA but I am looking to start my investing around the Indianapolis area of IN. I grew up in Indiana and still have majority of my family still there, including some members of my team already. I'm looking at C-B level houses that I could add some forced appreciation into with a little work that will also give me good Cap rates and cash flow every month. With that said, I'm primarily looking at SFH to start with and build a decent rental portfolio before using profits to expand into MFH. Looking at using the Brrr method as it gives me the ability to refi and use that capital to continue to grow my portfolio quicker, while also giving me multiple exit strategies.  Right now just wanted to reach out and get some professional views about the rental market in the Indianapolis are from people that are already there and also just sto start to build my network. Also I would love to find some meetings to attend and grow at here in California even though this is not the market I'm looking into.  Extremely eager to learn and grow my own business but would love to help out any investors around my area now with anything they might need. 

Hey everybody, I just wanted to reach out as a new investor. I've been lurking on the website for quite some time now and feel that it's time to take the leap. I've done my research through books and podcasts and will continue to do that, but I'm ready to start taking action. I'm a guy in my mid 20's with a goal of retiring early by creating enough passive income to fully replace my W2 income plus some. 

I'm currently residing in Manhattan Beach, CA but I am looking to start my investing around the Indianapolis area of IN. I grew up in Indiana and still have majority of my family still there, including some members of my team already. I'm looking at C-B level houses that I could add some forced appreciation into with a little work that will also give me good Cap rates and cash flow every month.

With that said, I'm primarily looking at SFH to start with and build a decent rental portfolio before using profits to expand into MFH. Looking at using the Brrr method as it gives me the ability to refi and use that capital to continue to grow my portfolio quicker, while also giving me multiple exit strategies.

Right now just wanted to reach out and get some professional views about the rental market in the Indianapolis are from people that are already there and also just sto start to build my network. Also I would love to find some meetings to attend and grow at here in California even though this is not the market I'm looking into. 

Extremely eager to learn and grow my own business but would love to help out any investors around my area now with anything they might need. 

Cheers