All Forum Posts by: Max C Moore

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Spring Indy Investor Masterclass -- Property Management Deep Dive

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James! My company host a ton! Eventbright is a great resource as well. We will have a happy hour in may and a masterclass event in March. 

I've often seen this happen where initial approval is given, but debt-to-income issues arise once they discover you're purchasing another property. One solution I've seen is closing the purchase in cash, then securing the HELOC afterward, though this carries more risk. If the property is leased, that might help. I'm assuming you're using the HELOC as a down payment?

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $160,000
Cash invested: $35,000

Another 1% single family deal in a transitional area creating long term wealth

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $160,000
Cash invested: $35,000

Purchased this property as a turnkey investment at the 1% rule moving equity from another deal.

Come join us for an exciting event at Guggman Haus Brewing! Whether you're a seasoned investor or just starting out, this masterclass is perfect for you. We’ll discuss how to get started in real estate, learn from industry experts, network with like-minded individuals, and gain valuable insights to help you succeed in your investment journey. Don't miss out on this opportunity to take your investment skills to the next level. See you there!

About our Speakers

Alex Montagano
Alex Montagano is a real estate investor and a investor-minded real estate broker / owner. Alex has flipped multiple homes and owns over 20 units in Indianapolis. He is the CEO and Owner of Lockstep Realty, the 2nd largest eXp brokerage team in the state, with 15 agents. Lockstep prides itself on market expertise in Indianapolis as well as an unparalleled client experience.

John Murphy

John Murphy has been a resident of Indianapolis for 41 years. He is married to his wife Dolores, he has four children and two dogs. He is owner of MJW mortgage, owns a variety of real estate; 29 residential doors, a commercial office building, and industrial buildings. The company has grown from 3 employees to 71 team members. MJW is a Fannie Mae seller/servicer for residential mortgages. Outside of work; He has written two books, and recently started working toward being a social media influencer.

Come join us for a fun and informative Real Estate Happy Hour with Roots event at Refinery46! Whether you're a seasoned real estate pro or just dipping your toes into the market, this event is perfect for networking, learning, and enjoying some good company. Sip on your favorite drink, mingle with like-minded individuals, and gain valuable insights into the world of real estate. Don't miss out on this opportunity to expand your knowledge and connect with others in the industry. See you there!

Caleb, 

Looks like there is a ton of helpful information in the above thread. I just wanted to chime in and give a quick thought. When renting to college kids, I have always looked for grad students. Ones that are studying a lot or working while in school. I have been able to find them best through posting rentals on facebook groups near the universities. Just looking at their profile & seeing what year they are in. Another piece of advise is smaller universities that have a shortage of dorm space. Finding a university that is growing each year & buying a home very close on campus to the college housing. The reason for this is the university will likely want to expand & your street could have a high potential of being bought out by the university. All of my college rentals were bought out by the university at 1.5 time the market value.

Andrew, 

My experience in Indianapolis is that the BRRRR Strategy is great when adding $30k - $40k of value. Not doing a full gut rehab. Our median rent growth was 27%+ last year & continues to rise. There is a high demand for well executed & A+ rental grade. Even in submarkets that rental rates level out at $1,400 the A+ finishes are fetching about $2k. With the lighter value add you wont get all of your initial money back but depending on the deal you will be able to get a good majority back leaving maybe 7% - 15% in the deal. While still breaking even every month. Even with our price increases YOY standard appreciation + value add you can see a 30% swing in value. The one thing I warrant is know that you are going to be leaving cash behind to cashflow. I just went to refinance on one of my BRRRR projects & did a quick number spread on return on equity & realized I was in a better spot to sell & 1031 leveling up to a better property. This one I waited 24 months to allow the market to increase in value before refinancing. I also was at a great rate for todays market.