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All Forum Posts by: Nick Walts

Nick Walts has started 1 posts and replied 42 times.

Post: Looking for Sales/Acquisition Manager Part Time - Commission

Nick WaltsPosted
  • Residential Real Estate Broker
  • Indianapolis, IN
  • Posts 42
  • Votes 14

@Ryan Minekime

I sent a colleague request. I'm interested in hearing more about what you need here in the Indy area

Post: Where in Indianapolis should I look for single family rentals?

Nick WaltsPosted
  • Residential Real Estate Broker
  • Indianapolis, IN
  • Posts 42
  • Votes 14

@Dana Zipnik

Hi Dana, I think a lot will depend on how you will be acquiring these properties and what grade of rental area you're looking for. I'd personally target the Western and Southern townships and any of the donut counties. You'd be looking for older ranches on slabs (maybe some crawls) with 3 bed and 1+ baths. I could help pinpoint more later if you'd like to connect.

Post: Am I wrong? Am I expecting too much from my real estate agent?

Nick WaltsPosted
  • Residential Real Estate Broker
  • Indianapolis, IN
  • Posts 42
  • Votes 14

I think it's already been said a few times, but find a new Realtor. It'd help to visit the area and meet your Realtor in person to create a stronger relationship and bond if you'll be communicating and purchasing via long-distance most of the time later.

Last year, I traveled with family that are relocating from California to Tennessee (I am a broker in Indiana) and met a Realtor in the Tri-city area (Kingsport, Johnson City, and Bristol) to collaborate with, guide us, and show homes over a 4-day trip. The idea was to get first-hand experience in the area, truly get to know our Realtor there in order to get them dialed in on what was being asked for and needed, and to show that we were serious about our business. I suggest doing something similar.

If you decide to look further East from Knoxville, I'd be happy to introduce you to my contact in Kingsport, TN.

Goodluck!

Post: Wholesale contract example? Seller and Assignee only

Nick WaltsPosted
  • Residential Real Estate Broker
  • Indianapolis, IN
  • Posts 42
  • Votes 14
Originally posted by @Galen Ribellia:
Originally posted by @John Thedford:

Piper appears to be long gone...and IMO not missed. He was great at providing information to deceive sellers .

 I agree. Asking for the $2k was the red flag for me. 

The $2k was the deposit that he required from an end buyer/investor to secure the property from open market to other buyers/investors. It has nothing to do with the Seller.

Post: I can't find any cash-flowing properties?

Nick WaltsPosted
  • Residential Real Estate Broker
  • Indianapolis, IN
  • Posts 42
  • Votes 14

I find them all the time @Account Closed on and off the MLS. I'm looking at one right now on the MLS, that was posted yesterday, without an investor to share it with.

Your Realtor should be setting up for himself, or both of you, BLC auto-searches with alerts for your criteria. You have to be fast. 

Post: No Contract Yet, Received Some Money, Recently Formed LLC

Nick WaltsPosted
  • Residential Real Estate Broker
  • Indianapolis, IN
  • Posts 42
  • Votes 14

I agree with @MJ S.

Post: Tips on purchasing out-of-state NON-turnkey properties

Nick WaltsPosted
  • Residential Real Estate Broker
  • Indianapolis, IN
  • Posts 42
  • Votes 14

@Matthew Terui  Unless I missed something, you've only been talking to the listing agent or property management for these properties, right?

Take @Ritch Bonisa's advice. First thing I would do is get a Buyer agent involved who will be that HUMINT that you need. I would not rely on the listing agent or the property manager for unbiased information.

If you can't find one yourself, take @Aaron Linden's offer to get involved and check these properties out for you, whether posing as a potential buyer to get inside with the list agent or by him contacting another local agent to show him the properties as an extension of you - the investor. I would make it worth his while regardless of him volunteering.

Post: Newbie From Indianapolis Area-Foreclosure Question

Nick WaltsPosted
  • Residential Real Estate Broker
  • Indianapolis, IN
  • Posts 42
  • Votes 14
Originally posted by :

Right now, many of my clients are buying off the MLS and I've had 3 clients buy 5 properties in the last month that were on the market for 48 hours or less. There is tons of competition and the "real" deals are moving very quickly.

Less than 24 hours usually

You can either learn to market yourself to different types of potentially motivated sellers or position yourself to be a hawk with closing power on the MLS. I think that your best bet would be to capitalize on HUD homes, but you may be restricted on how long you have to reside in the home (not sure what the seasoning time-frame is, someone here will know though) so it may be "tricky" to turn it into a rental right away.

1 year

Post: Indianapolis Visit 3/22 ~ 3/23 - Would love to connect

Nick WaltsPosted
  • Residential Real Estate Broker
  • Indianapolis, IN
  • Posts 42
  • Votes 14

Have fun Kee. You're one a few out-of-state investors that I know of that'll be here next week.

Post: NEED HELP - Property Built as Multi-Family without Permits

Nick WaltsPosted
  • Residential Real Estate Broker
  • Indianapolis, IN
  • Posts 42
  • Votes 14

Who was your Realtor? I'd be pulling on that string HARD

@Ross Denman Can you help with this question?