All Forum Posts by: Patrick Boutin

That is great to hear! Thank you both! I will.

Also to clarify FICO score is currently 800+, stable six-figures income, 10% down payment in addition to having cash reserves of about 1+ year of living expenses. When I was pre-qualified about 1 month ago, I was told I could qualify for owner occupied 525k and 3% down.

The house I would like to purchase and renovate I would be living in (maybe not the first couple of months) so this would be owner occupied. I am not looking at borrowing close to the max of what I qualified for, but much less (under 300k) as I don't want to stretch myself too much or put additional pressure on me.

I am interested in purchasing a home in need of work in order to do renovations.

A while back I'd looked into FHA's 203k program and was told that just the 203k is available for FHA, that Conventional loans had their equivalent in what was called the Homestyle loan program for conventional loans.

After speaking to a local loan officer, I was told these programs were no longer available.

Is that true? Is it no longer possible to use Conventional Homestyle mortgages? Is the 203k the only available option these days?

Any insights would be greatly appreciated. Thank you!

@Brian Simmons and @Kevin Nelson care to post an update on your experience with this HELOC strategy? I too have been thinking about it and would love to know your experiences. Thanks!

Any luck with the HELOC strategy @Kishor Thope?

Hi @Kellee Dankiewicz I wanted to know if this meetup is still taking place? My girlfriend and I were interested in coming in, learning and meeting people in the area.

Hey guys! thanks for replying and offering to help! That's much appreciated.

@Michael J. Beasley I sent you a private message. Let me know when is a good time for you to speak.

@Kevin Wyn, thanks a lot for showing interest. Can you send me your info via a message and let me know when we can speak.

Look forward to speaking with you guys! :)

Hey guys,

I am looking to get in touch with a Real Estate agent located near the East Indianapolis area and more specifically close to Greenfield, Indiana.

I have a small property that I want to sell and need some “eyes on the ground” which might be able to help me get an idea of the current situation of the property as I am not in the area. I am looking to get a BPO, some current pictures and hopefully walk the property so I know its current state. The property will most likely be sold to an investor who would rehab the property and flip it.

Full disclosure: the property is small and not worth a whole lot in its current state so I am aware this may not be super enticing for an agent in terms of a commission. I am hoping someone might be willing to help me and in exchange I am willing to pay for the agent’s time.

Please reach out to me and we can get on a phone call so I can give you more specifics and the property address.

Thank you in advance to the Indianapolis Real Estate BP community!

Hey @Mark Balliet welcome to BP! You will find the site is full of information available to your fingertips! I really recommend the PodCasts which are an amazing way to motivate you and give you tips and ideas and you can listen to them during your daily commute.

I took want to invest East of the East Bay around Stockton, Manteca, etc... which are not that far away from the Bay Area and still somewhat affordable.

@Jake Leicht I too would like to connect if that would be ok with you? I'm not ready to pull the trigger yet (I have early 2018 as a target) as I am working on getting capital ready, finances stable, good credit, etc... all that good stuff but would like to start knowing the good areas from the war zones.

@Jared Bouzek Thanks! I plan on living in the property (and house hack) however I realize that sometimes depending on the amount of renovations, it may not be possible to do so during the first months. Would that matter or is it irrelevant? Also how does that work? Do they do up to 95% LTV of the purchase price and how about the renovation funds? Are those lumped into the total borrowed amount or do I need to seek financing elsewhere? Also how long does it take to close?

Thanks @Joel Cummings I will ask around.