All Forum Posts by: Michael Svoboda

Hello BP community,

Like many others that are eager to learn about re business I've listened to numerous bp podcasts, read books and also created spreadsheet to gain a better understanding of the various re metrics.

I was hoping for some direction and input on next steps. My wife moved from Chicago to Indy a year ago since I was tired of 90 min commute one way and paying high property taxes (dupage county). I have a steady w2 jand make a comfortable living but really like just a little more.

Looking to meet people in Indy area who might be interested to partner up. I can be the boots on the ground, have time after hours and weekends to make this work. I do have some capital but not touching 401k at this point.

I know very few people since moving to Brownsburg but it's been been on my list to have re. At this point like to consider buy/hold but open to other ootions. I continue to read that starting a team is #1 and like to make this happen.

I haven't attended a reia meeting yet, next thing on the list.

I would love to hear different perspective or talk to someone regarding possible partnership. I'm in my mid 50s, healtyny, 30+yrs corp america, detail oriented, committed and credit score low 800.

Thank you for taking time to read.

Haven't

@Michael Ealy, Hello can you please direct me to the article your referring to? We just moved to Indy from Chicagoland and trying to convince my wife to do real estate and she's concerned to get involved because of upcoming recession. If I can show her some facts/data to validate the Indy area "should" be able to absorb it if it happens. Man thanks, Michael

All: I recently moved to Indy area and trying to find a meet up as well to learn/network all I can. I was surprised and also disappointed there are not many meetups in this area. I continue to hear its great place to invest for cash flow but don't hear about any meets up besides CIREIA. I would be very interested in attending as well. I kicked around the idea to start one in Brownsburg/Avon my area but I am very green and not sure if someone would attend or motivated since I can offer very little from the experience side. 

@Cameron O'Connor I would be happy to participate and happy to assist if you like, thanks Michael 

Hello, I recently moved here from the Chicago burbs and can tell you that the cost of living in less and the property taxes are significantly better as well. I continue to watch the homes in Indy and it seems like they can be brought for 100K or less in some areas. I also see quite a bit of growth and don't see it stopping for awhile. I have heard and read frequently that each neighboorhood can be good vs bad by street by street. Best, Michael

Greeting BP community.

I would really appreciate your input and expertise. Quick summary, my wife and I moved from Chicagoland to Indy to improve quality of life and this also means have extra dollars to invest monthly. I am thoroughly enjoying BP podcasts and the getting more involved in the forums as well. 

I am trying to determine the most effective way to increase our income streams in the real estate sector. We have available 1,500-2,000 extra savings available per month and like your opinion how to allocate those dollars in the real estate sector. We're open to any ideas/direction? It's very possible there's an option not aware existed. 

We do have extra savings that could be allocated for a down payment but not sure I am ready to go that direction quite yet. We just moved to Indy and even though I'm getting a weekly education where to invest we're not quite comfortable where to invest. 

Both my wife and I have full-time jobs and like to purchase buy and hold but not quite ready to go that next step. I have future plans to buy and hold however my wife is little reluctant to be a landlord so hoping this could be a way to ease into the process.

Thank you in advance for your expertise and time. 

HI @Ryan Ray, my wife and I for a hot minute considered doing rentals in Chicagoland since we lived there for 30+ years. Lived in small suburb in Bartlett (DuPage Country) and realize it really is not a wise choice to do rentals or flips since property taxes are really high. It didn't help that they also doubled the state gas tax from 18 to 36 cents beg 7/1.

My wife and I picked up and moved to Indy area (Brownsburg) and really see lot more opportunities not to mention property taxes are much more manageable. I am also interested in learning more about areas to invest in, the notion of BRRR sounds nice but think I need to walk before we run.

@Ross Denman, I follow your posts regularly and see you as a frequent contributor on BP. I would love to gain more insight from you about what areas make sense to consider doing a flip. 

Thank you both for your post, very ineresting and helpful. 

Michael

@Jonathan Ard, hi I just realized I didnt take the time to tell you thank you for your advice, it was very helpful. Continued successes.

Hello BP community, I was seeking your input. 

We moved from IL to In for a better quality of life when it comes to commute, property taxes and closer to family. Now that we are settled in our new home, we're looking to do real estate investing on the side. Can anyone provide input on purchasing homes in Brownsburg (46112) for either flipping or buy and hold? My thought process is that there are good schools and think families might find this desirable area. Looking to gain some insight if this is a good approach or have a wider net and branch off to other areas within the Indy area. Love to chat with others over coffee and talk offline and begin networking. Like others, I am learning but really want to go to the next step and begin a game plan.

Thanks in advance for your time and look forward to hearing your perspective.

Sincerely, Michael 

Hi BP community:

I've been using a phased approach to start my real estate goal and looking for your input, please.

The first step was to move out of state that charged ridiculous property taxes and since we're empty nesters really no longer need our big home. We downsized and moved from IL to IN and gain relief from paying high taxes. 

Next goal was to save enough dollars to invest. Since we have smaller payment we have more funds available to invest. My wife is insistent on having a plan in place in writtten form to make sure have solid direction,  -- fuzzy goals fuzzy results. 

I struggle if makes sense to find a home to flip and have more cash reserve or buy a single family home. I also know I have read and heard many times that it's better to do multifamily approach too. 

I been doing some research on BP for a business plan examples and or templates but haven't found what I'm looking for-- yet. Can someone please offer some advice. I am not sure if I am overthinking it on how detailed it needs to be or can/should be more general which allows for more flexibility. 

As an FYI more context about me, I live in the Indy area (Brownsburg) and my wife and both have W2 jobs so have reasonable reserves. I have not been to a meet n greet yet since I moved from Chicagoland only a few months ago. That is on the list in a few weeks, Hope that provides more about my background.

I request and encourage input & guidance, Thank you. Michael

Hi BP community

I've been using a phased approach to start my real estate goal and looking for your input, please.

The first step was to move out of state that had very steep property taxes, moving out allows us to allocate more dollars to purchase our first home. Next goal was to save enough dollars to invest. This is now off the list. If this is going to work and I need to have a plan in place in written form also my wife is willing to do this but she is adamant that she wants to see a plan too. That is my homework assignment!

I struggle if it's a good idea to find a home to flip and have more cash reserve or buy a single family home. I also know I have read and heard many times that it's better to do multifamily as well. 

I been doing some research on BP for a business plan examples and or templates but haven't found what I'm looking for-- yet. Can someone please offer some advice.  I am not sure if I am overthinking it on how detailed it needs to be or can/should be more general which allows for more flexibility.

As an FYI more context about me, I live in the Indy area (Brownsburg) and my wife and both have  W2 jobs so have reasonable reserves. I have not been to a meet n greet yet since I moved from Chicagoland only a few months ago. That is on the list in a few weeks, Hope that provides more about my background. 

I encourage input and guidance, Thank you. Michael