All Forum Posts by: Makenzie Kelly

Jeb, I would definitely take the advice of these folks in the forum.  I've almost stepped in the dung myself, but they saved me.  I am a new investor in indy (also from CA), and I agree, I was certainly lured by the low prices.  I accidentally offered on a house at $10K, but found out later it was a total wreck.  It would have been better to burn the property down and start over. You also have to consider that many of these cheaper houses are very old, and Indy has some harsh, harsh winters, unlike any that we see in CA.   I have visited Indy once, and am going back Mid May, I've seen some of the questionable neighborhoods of which they speak..   I have a  team on the ground that if you need pictures, or a visit to a property, they can do that for you for probably cheap.  Let me know.  It is helpful to get their perspective because they can drive the neighborhood and look at the properties for you before you have to step on a plane. Best of luck! 

Hi Joel,

Welcome!  You'll find that a lot of people are really helpful here!  I've made a lot of great contacts and it's helping my investing biz a lot.  Love the tag line.  So of course they mean Diphenhydramine... ??   LOL.  I was guessing you worked ER.  Rideout Hospital? We have a contract there (my other full time biz is in ambulance transportation.)  Anyhow. Good luck to you and Tammy. 

Best,

Makenzie

Hi Ria,

I don't know a lot about Vallejo specifically other than it is economically challenged in certain areas and a lot of crime.  I have friends that are police/fire/ems there and I hear a lot of stories.  It doesn't mean that you can't make money there.  I have had California investments, but have since moved my efforts out of state. 

I would suggest finding several property managers in the Vallejo area.  They should be able to tell you where to find the properties, and the details on the turn over etc.

Best of luck to you!

Well, let's be honest, whether it's a company or a regular person, there is always a risk that they liquidate, declare Chapter 7/11/13 etc. and walk.  

But with a corporation, I do believe that as a Creditor you can file a UCC-1 against the corporations assets for which you lent.  I'm not sure how difficult it is, but given a high enough risk, it certainly would be worth the effort to figure out how to do it.     http://en.wikipedia.org/wiki/UCC-1_financing_state...

I do agree that securing liens on the title might be a easier idea.  The very best idea is to get Personal Guarantees that allow you to go after the individuals directly.  

Best of luck to you!

Hi Brittany!!

Congrats on the money! So your mom gave you the money and told you to essentially find a property and wholesale it?  Is that what I'm reading?  Is she in real estate?  Or was it just a suggestion from her?

I totally and completely agree with everyone that is saying to do your homework.  I don't know how I would feel about losing money that my parents gave me if I didn't do my homework and tried my best. I think it just comes with different emotional attachments.  I'm a total daddy's girl and it would just break my heart if I let him down.  

As a seasoned business owner my suggestion:

Step 1:  Be patient

Step 2: Do your homework

Step 3: Refer to Step 1

Step 4: Only, and only when the numbers make sense make a move. (Act out of logic versus emotion, feeling, ego or excitement.  The latter will fail you most of the time.)

Hopefully that helps.  =)  Best of luck to you!

Makenzie 

Hey Indy experts.  I have a potential "Rehab Special" that I am looking at putting under contract in the Bates Hendricks neighborhood.  As a new and out-of-state investor and I don't think I want to make my first investment a rehab quite yet.  

 The house is a little bungalow and in need of A LOT of work.  800 Sq feet, 2br/1Ba, will need foundation work and joist work etc.  What might one expect to pay for a total shack like this in a good neighborhood, where maybe the value is only the land?

Thanks in advance for any thoughts!

Thanks!

Hi @Debra R.!  Just saw that you're from the Bay area too.  Best of luck for your investing.  My business extends up to Sacramento too (not investing, the other business,).  You should also check out Lodi, and I hear other parts of the Central Valley are good too.  I would steer clear of Stockton though....  

@Johnson H. @Minh Le I am interested in the meetups too!  Although I'm looking to invest out of state, I'd love to network with local folks just to hear war stories and what-not-to-dos!

Best of luck to you Debra!!

Hey everyone!  I couldn't honestly call myself a newbie....I've been "investing" for over 18 years. In 2005 I was able to leverage the equity from the sell of a rental property to start my current business.  That was probably one of the best moves I ever made.  Then 2007-2008 hit and my real estate investing strategy (equity appreciation only) failed me, and I lost all but my primary residence. 

So after swearing off real estate for several years, I'm back and more "educated" than ever.

I'm starting to invest in Indianapolis.   I've invested out of state before and while it has its challenges, I enjoyed it.  I am still working on building my team in Indy and looking for good contractors and  realtors. My main objective is to turn good deals quickly (is this possible without doing major rehab?) and then find Great deals and hold.  Totally open to JVs and or other opportunities.   Work well with others and I feel collaboration is always more beneficial than competition.

My other job when I'm not investing and running a large-scale business is that of a wife of a police officer, mom of two awesome sons, backyard chicken farmer and city beekeeper.  We travel quite a bit now, and we are just loving life.  

My favorite saying, "Great things never came from Comfort Zones."

Looking forward to meeting ALL of you!!!  

Cheers, 

Makenzie