All Forum Posts by: Shea McCavit

Welcome @Pardeep Badasay! I am also new to the forums and live in Indianapolis. I just recently performed my first rental deal this July, but also look to get into flipping. What areas are you looking at investing in? Do you plan on financing with a hard money lender, private lender, or HomeStyle loan? Have you considered using Zillow, Redfin, or wholesalers to find deals? These are the sort of questions I've been asking myself while trying to look for my first flip property. 

I'm currently looking for pre-rehab properties in the following areas and would be interested in working with a wholesaler to find a great deal:

Broad Ripple

Ravenswood

Meridian-Kessler

Butler Tarkington

Rocky Ripple

Fountain Square

Bates-Hendricks

Thank you guys! 

@Rob LaRovere. Funny story, I recently bought my first house for myself in Ravenwood as the prices are cheap and if I decided to move I could rent it out at a good rate. I looked around the Broad Ripple area and Butler area as they seem to be good places to rent. After a couple weeks of looking, the house literally right next door went up for sale. I bought the house for 85,000 with my brother (I first formed an LLC) with 25% down. The house is 970sqft and I'm renting it out for 975 (950 without pet fee).

To answer your other questions, I want to start off safe and small and learn the business until I can eventually get good enough where I can quit my job and flip full time. I started with the rental because it was very easy with barely any work involved. The biggest concerns/questions I'm having about pulling the trigger on any flip deals is "Will it sell?" and "What kind of work does it need to be at max ARV?"

I'm Shea McCavit. I live in the Ravenwood area of Indianapolis and I recently bought my first rental property in July of 2015 with a cash flow of $500 dollars a month in Ravenwood. I'm looking to continue buying rentals in Indianapolis or have enough knowledge to start flipping houses. I'm currently interested in the Fountain Square area of Indianapolis, but I'm unsure of exactly which houses will sell for profit or be worth it as rentals.