All Forum Posts by: Nick Black

Hey there,

I am coming to Indianapolis for work, and to begin looking at properties for our real estate investments. I usually book 30-40 properties a year directly through Airbnb but figured I’d post on here for once to see if any other fellow BP members would have a property available for me to book before just booking traditionally like I do through the platform.

I’ll be looking for a 4-5Br that sleeps 5 comfortably. (Hope this is allowed or in the right place, if not let me know)

@Jane Istre

If you have a property in a lower class area that your lacking demand for which is evident or else it wouldn’t be vacant. Wouldn’t raising prices be counterintuitive to the solution of filling your problem?

Also if you’re in a lower class area that’s having issues with crime, in my opinion a house keeper required for the property would stand out. If that stood out then it wouldn’t be hard for the potential tenants to put the two together and feel offended by the idea is that your perception believes they need a housekeeper as if they’re irresponsible or perceived to be messy which may lead to them looking elsewhere.

If they meet your criteria, have no negative history then the risk of carrying your expenses on a vacant is probably more of a downside than the risk of renting to them.

If you’re renting to a younger group, it’s not a bad idea to allow digital payments done online if that’s an option as analog cashiers checks are sometimes less appreciated for a younger crowd.

Also if there is 3 separate people that are close together, it would probably be easiest to designate the primary contact of the group which you’ll relay information, communicate back and forth regarding property details such as payments, notices, etc.

Plenty of people all over the US rent to groups of guys that live together prior to them settling down and purchasing a house in their desired future place. If they’re properly qualified it sounds like a good opportunity to fill your vacancy.

Also take maximum security deposit just to hedge in case they damage the property by doing something stupid.

Also with a group, a higher penalty for late payments could lead to a better responsibility of them not being late out of being slow to make payment or “forgetting” to on time.

@Ric Ernst

I definitely agree, BRRRR will more so be the optimal model of what we do but with the supply and how much we would like to acquire then I'm not so sure how many model deals we can find to achieve it but it's something to shoot towards.

After the refinance, even if I leave in 10% of my cash invested then I'll still be making a strong ROI vs. more traditional plays.

Our target market is cash flow strong SFH properties. Any asset appreciation will be a bonus but not factored in on our models for expected returns. We're going to be shooting to diversify a basket of b and c areas, more invested into the c areas hedged with the higher quality tenants in the B neighborhoods.

I have a lot of interest in multi family, but I want to focus on one category first until we get good at it before expanding out there. There’s some duplex’s that I would be interested in if I find an opportunity on them but I don’t want to jump in to anything really larger until we’re more experienced.

@Kevin Hill I'll be getting in touch!

Hello everyone,

First post here. 

Backstory:

I am currently putting together a group of 4 friends to begin investing in cash flow properties using the BRRRR strategy this fall in the midwest, preferably Indianapolis to start.

About us: We're all early 20's who have worked together in sales which earn a six figure plus income per year. Our lifestyle has us consistently traveling, and while we make good money it isn't sustainable long term. We are looking to all utilize our income investing in assets which we can grow into something much larger and dedicate ourselves full time. 

My goal is to accumulate essentially 10 properties per person involved. 

I like the fact that by having four people, we essentially can have more people to allocate towards each task while mitigating risk and learning errors in the early stages. 

My only concern is the fact that properties meeting our parameters won't be easy to find or at least not at the start. Each person we add, we diminish our risk per person but also diminish our gain which will lead us searching for additional properties to meet our goals as a group. 

Is limited supply a reason to begin with less partners as it will require us to find less properties to reach our goals? Does having more people to help outweigh the task of finding more supply to purchase as we could explore alternative markets? 

If you just started out with the goals of achieving 10 personal rentals as quickly as possible, would you bring on multiple partners and expand the teams goals of an additional 10 per person or would you stick with as little people as possible allowing a lower requirement of fitting properties to find?

Also if anyone is based out of Indy, I would love to connect.