All Forum Posts by: Patrick B.

@Easton G. Curious how your project ended up. Success? Would you use the Homestyle product again? If you completed it, were you able to secure a nice equity position on the home? Thanks. 

Welcome to Indianapolis and to BP! There's an abundance of great resources on the site to help you get started. I definitely recommend the podcasts, for one. In fact, an Indy wholesaler made an appearance on the show: https://www.biggerpockets.com/renewsblog/2014/10/09/getting-started-real-estate-wholesaler/

Welcome to BP and welcome back stateside as well. Always nice to see fellow Indy folks utilizing this terrific site. I don't doubt you can find some good cash flowing prospects in those areas; some attractive school districts, affordable property, close to many employers, etc. Good luck in your endeavors. 

@Nalo Coban Ah ha, I see. You certainly do make some very good points. Thanks for sharing and best of luck to you moving forward. 

@Nalo CobanOh wow, a 4 unit flip! I was going to suggest posting it to the marketplace but I see you're already on it. Congrats on your cashflow success. 

If you don't mind elaborating a bit, what were your biggest takeaways / lessons learned / things you'd do differently next time around? If this was your first flip, I applaud the boldness of tackling a 4 unit! 

@Nalo Coban Did you end up closing on this deal with the financing arrangement you outlined above? How did everything turn out?

@Nelson J Castillo Check out Fannie Mae's HomeStyle Renovation Mortgage as well. A good loan officer will be able to compare and contrast the Fannie Mae product against the aforementioned FHA 203k.

Hi Trenady and welcome! What type of real estate investing are you looking to pursue?

If your goal is to obtain conventional mortgage financing, you could start by obtaining a copy of your credit report ... make sure it's accurate; challenge any inaccuracies to have them removed. Annualcreditreport.com is the best, most legit site for that. Sites like Credit Karma and Credit Sesame can be helpful, too. Both will provide you with your credit score for free as well as a snapshot of your overall credit profile. 

The following links may be of some help for you:

Metropolitan Indianapolis Board of Realtors
http://www.mibor.com/resources/search.asp

most likely select Marion County; from there, Washington & Pike townships might provide you with some prospects

Indy REO
http://indyreo.com/index.htm

from left menu, select listings ---> bank owned listings
most of these are in less desirable areas, but they do have some nicer stuff as well

Google Maps
http://maps.google.com/maps?hl=en&tab=wl

If you see a home that interests you, type the address in here and pull it up on the map; you may be able to view the home in Street View and "walk" around the neighborhood to check things out

If you have any questions about a specific home / area, feel free to shoot me a message. Hope this helps. [/url]

What type of neighborhood are you specifically looking for? Different investors have different ideas as to what makes a "good" neighborhood. Fill me in a little bit on your investing philosophy and I should be able to help you out.