All Forum Posts by: Edward Rhoads

I am a fix and flip investor in Indy.  I recommend going to the INREIA and CIREIA meetings.  You can find them on meetup.com.

I know I work with properties with ARVs of 60k and more.

The areas you put are good but a bit speculative and probably a little bit harder to find a good deal.

What's the address and sale price?

I advise going to CIREIA and INREIA meetings to meet with good wholesalers like Brett Snodgrass then you will get better deals.

Nothing in 46218 would appraise for 60k.

Appraisers are being really stingy. I just had an appraisal on a 90k ARV duplex and he came in at 72k citing investors...

The ARV for that looks to be 40-45k and since appraisers seem to be coming in at 10-20% under ARV these days your appraisal will be probably 30-40k.

I know that is not what you want to hear but that is why I avoid 46218 like the plague.

I have a house at 40th and Cornelius.  Will be a fix and flip though.  A bit nervous about it.  Think it would be tougher to buy and hold in that area.  Would not go south of 40th though that is the limit. 

I second what Andy said.

I think the best way to make sure you are getting a property in an okay to good neighborhood is only buy properties with ARVs of 60k or more.  Then you will be good.

I would recommend going to CIREIA and INREIA meetings.  You can find both on meetup.com

You might be priced a bit too high.  I think you might need to be in the $75-$76k range especially with a slightly bigger house a block away for $78k.

Are you getting a lot of people to view the property?  If not then you are too high.  If you are getting at least 5 a week then you just need to wait for the right buyer but I get the feeling that is not the case.

I can second that in Indianapolis you can get a few duplexes for $200k that are in decent areas.  I invested $60k each (purchase + repair) for a pair of them that each have $700 a month cashflow ($400 if I were to put a mortgage on them).