All Forum Posts by: Michael Margarella

@Matt Millington I am sending you a PM.

@Casey C. would love to connect!  I primarily invest in Indianapolis, but have my first TH rental under contract.

@Paul Beets is your man. 

@Michael Plante Jared Shore at Finance of America does this.  If you need his contact, feel free to shoot me a PM.

@Simon Stahl right, you can pull out more than the purchase price (including rehab) by using the LLC lien for 70-80% of ARV. So long as your purchase and rehab stay within 70-80% of ARV, you can pull it all out with no seasoning.

@Simon Stahl is correct. There is a creative financing method whereby you can completely avoid any seasoning period. It entails purchasing the property in cash and your LLC placing a lien on it for 70-80% of the ARV. Then, you can refinance that LLC "loan" at anytime because you are not taking any cash out of the refinance, you're simply paying off a loan (which has no seasoning requirement).

I am considering using Box Brownie on a flip in Indianapolis.  What are your thoughts on whether potential buyers felt "disappointed" when they arrived to an un-staged property?

Even if you disclose that it is virtually staged in the notes, there may still be a a subconscious reaction. 

Josh Jenkins at Jenkins Property Solutions works really well with out of state investors.

@Lei L. Jared Shore with Finance of America knows all the tips and tricks!

@Dave E. I’m an out of state investor that will be moving to Indy for a bit to further develop my network, so perhaps we can sync up this summer. 

As for a team, I recommend you check  out Gloria Gear as an agent and Josh Jenkins as a contractor.  They’ve been great to work with!

Bigger Pockets has a deal calculator.  DealCheck also has a similar calculator, which I like (and it is free). 

As for rent rates, there are services (Rentometer, Bigger Pockets Insights, etc.) which will provide you with an estimate rental rate.  However, in a market like Indy, which is neighborhood to neighborhood and even street by street, you may want to familiarize yourself with some areas and do some analysis rather than solely relying on rent estimates.