All Forum Posts by: Patrick B.

@Grant Anderson You might give Union Savings Bank a try. Based in Cincy. Locations in Indy. I've heard good things about their mortgage operations. Good luck! Union Savings Bank

@Natalie Barber Yes, two year time frame. I had money for a down payment but not for a complete rehab at time of acquisition so I am renovating the house over the span of two years while living in the home. Work my 9-5, save money, knock out next the phase of the rehab as funds accumulate, and repeat until the project is finished. It's been a great learning experience. I will make a thorough post on BP to detail the process once completed. The two year time frame was also adopted to allow for any gain on sale of the home to be tax free income. 

In terms of flipping, I found the following books to be helpful:

FLIP: How to Find, Fix, and Sell Houses for Profit

The Book on Flipping Houses: How to Buy, Rehab, and Resell Residential Properties

The Book on Estimating Rehab Costs: The Investor's Guide to Defining Your Renovation Plan, Building Your Budget, and Knowing Exactly How Much It All Costs

Yes. A live in flip in Irvington on a 2 year time frame due to be sold in Spring 2017.

Oh wow. I love everything about this thread. @Michael Johnson You certainly have a way with words and I've got no doubt your passion and enthusiasm will serve you well in whatever future endeavors you opt to pursue. You might check out the Ultimate Beginner's Guide written by BP's own Brandon Turner. Some very good info. Cheers!

@Jeb Brilliant The scope of your project is probably beyond what the contractor that I recently worked with could handle. I had a bid from Indicon Construction. Guy was punctual, responsive, knowledgeable,  well spoken, and has positive reviews online. Perfectionist Carpentry also seems to be well regarded. Rollins Rentals & Rehabs seems to do a lot of work in Indy and also has decent reviews. Might kick the tires on those outfits and see if anything comes together. Let us know how the flip progresses. 

@L.D. Stauffer Congratulations on securing your first deal. Hope it proves to be a winner. Looks like a solid rental area. Keep us posted on how it goes.

@Jeb Brilliant In what area / neighborhood is the property located? What is the general scope of the project? I know of a handful of GCs but they vary in terms of the type of work they do and where they operate.

@Kevin Harris I think that program might be administered by the Indiana Housing & Community Development Authority (IHCDA). I'd contact them directly to have all of your questions answered. I bet they could refer you to a lender, too. 

@Bob Pester No, I wouldn't call that area a war zone. Decent area. Blue collar. Probably a decent amount of rental properties throughout. Nice park and public library on Shelby St. That's how I see it, anyway.

@L.D. Stauffer Congratulations on your successes. Here are two real estate investor groups that you might check out in Indy: 

http://myinreia.com/

https://www.cireia.org/

Cheers to continued successes as you move forward into your next phase. Let me know if you have any questions about Indy.