All Forum Posts by: Patrick B.

@Damian Robinson 46208 encompasses a few different neighborhoods which vary greatly ... Butler Tarkington, Riverside, Crown Hill, Golden Hill, Rocky Ripple ... each with its own characteristics and rental prospects. My advice: pull up the Redfin website, pull up sale records for the past 6 months, write down names of realtors who have sold the most homes in your target area, and call them directly with your questions. I think that would be of most benefit to you.

@Robert Allen I hear the most about these two: 

http://myinreia.com/

https://www.cireia.org/Default.aspx

@Stephen Barton Props on your patience and persistence. Congrats on your success.

@Terron Winn It wouldn't hurt to pull up listings on https://www.redfin.com/ for your target area, filter to find comparable homes sold within the last 6 months or so, and check out some comps on your own to gauge the market.

@Gabe Starms Congrats on the great internship. That's a nice opportunity that will undoubtedly serve you well. I enjoyed Building Wealth One House at a Time by Schaub and The Book on Rental Property Investing by Turner. I'd also recommend the BP podcasts that featured Jered Sturm and Liz & Matt Faircloth.

@Seetha G Fall Creek Place, Mapleton Fall Creek, Bates Hendricks, St. Clair Place, Windsor Park

@Lou Ruggieri You might try Berkshire Law or Hocker & Associates.

@Brittany D. In regard to Indianapolis, you might browse http://www.techpoint.org/ and see if anything there interests you. You mentioned a 2-3 family ... it has been my impression that multi family in Indianapolis seems to be a bit more sparse than you'd see in St. Louis, Cincinnati, Chicago, etc. It is out there -- just seems to be less prevalent. I wonder if your $250K would be better utilized with two $125K single family homes in Fountain Square, Bates Hendricks, Fall Creek Place, SoBro, Saint Clair Place, etc.

Graduated from college in 2008. Wanted to work in real estate. 

Took a job as a commission based mortgage loan originator without realizing the magnitude of the impending meltdown. Quickly realized that I would struggle to make a living and resigned after 6 months.

Took a job in consumer finance where I originated, underwrote, processed, and closed a variety of loan and insurance products. Was laid off after two years amidst a large downsizing effort. 

Took a job as a mortgage underwriter as it had become clear I was better skilled and enjoyed that aspect of lending more than sales. Was laid off after two years amidst a large staff reduction. 

Took a job as a commercial credit analyst where I remain today. Surpassed the two year mark successfully which was a new milestone for me given the prior layoffs, ha. 

Grateful for the opportunity to have learned a lot about consumer lending, mortgages, appraisals, personal finance, and commercial lending as it has helped me in pursuing my real estate aspirations. The layoffs intensified my desire to become financially independent via real estate and determine my own destiny which I am striving toward now.

@Abigail Boston Welcome! You are headed in a good direction with the license, savings, and two good books. I know exactly what you mean by "always found a reason for it not be a good time" and can certainly relate. Years after first becoming interested in real estate, I finally made the jump in early 2015 by purchasing a fixer upper as a "live in flip." You might check out the FHA 203K loan. It can be a good way to flip without lots of cash. Also check out CIREIA and INREIA ... two local meetups.