All Forum Posts by: Scott Passman

What kind of market rental demand there is for 1 bedroom units in the Indianapolis area?  There are some potential opportunities out there, however, I'm a little concerned about the tenant pool by limiting myself to units with only 1 bedroom.  I would love some input from those in the area on what you are seeing...

Thank you for the info @Greg Scott. My goal for this property is definitely cash flow which is what makes the initial numbers appealing.  You have confirmed some of my concerns about the population changes and lack of thriving industries which could certainly increase vacancy issues.  I'm a little concerned about how hot the rental demand is going to be if buying is cheaper than renting. Especially if jobs aren't going to be attracting a lot of transient families how much drive will there be for rentals?

I appreciate your thoughts on the 1% rule. I am very new to investing so I will certainly keep this in mind when evaluating areas.  Choosing my market is proving to be one of the more challenging things right now and I can see myself stalling a little on it. 

Hey everyone!  I am surveying some different areas in the Midwest to see which markets have the best potential for buying rental properties.  Doing some searches on available properties in the Battle Creek area compared to the going rate for rentals appears to be quite favorable with good opportunities to acquire properties meeting or exceeding the 1% rule.  As a bonus, many of these properties have been on the market 60+ days which means it is definitely a buyers market and there may be some good deals to be had.  However, I also know that Battle Creek has some rougher areas and I only have a general familiarity with the area.  Can anyone out there give me some information on the current rental market?  I am most interested in acquiring properties for under 100k with preferably less than 5k in rehab needed to get it rent ready.  Any information would be incredibly helpful, thanks everyone!

@Conner ParksCongratulations!  I can't wait to join you in "breaking the ice" with my first property.  I too have been talking with my wife about getting a house for each child to have paid off by the time they are 18.  Such a powerful strategy.  While I don't have an official accountability partner, I have been telling everyone I know about my plans to invest to help give me that external accountability to follow through. Pulling the trigger on the first one is scary, congrats on taking that step and on the new baby. 

I am a new investor strongly considering the Indianapolis area to invest in buy and hold rentals.  I have been trying to educate myself on the different neighborhoods but it is hard to get a good understanding without some local knowledge as I know things can vary quite a bit in even a small radius.  I'm wondering if anyone can provide me some insight on a general overview of some good neighborhoods to break into for investing in Indianapolis or the surrounding suburbs?  I am looking to find properties for under 125k and am okay with some light rehab/upgrade needs, but I'm not looking for a full rehab at this point.  I'm looking for safer, up-and-coming neighborhoods and would love to get some local insight into good areas to start looking to help me narrow down my search.   Any advice would be greatly appreciated. Thanks everyone. 

Thanks everyone!  @Mark Ainley I would love to chat sometime.  I actually work in Bartlett so either area is very close to me.  Any way you could PM me so we could discuss more?  

Hello everyone,

My name is Scott Passman and I am a new investor based out of Batavia/Geneva, IL.  I just started learning about real estate 4 months ago and I have been hooked ever since!  I have spent every free moment of time reading every real estate book I can get my hands on, listening to BP podcasts and reading through the forums.  Now that I feel I have decent knowledge base I am excited to start meeting other investors and developing relationships to help take me to the next level.

I am 31 years old, married with 2 small kids, and work as a Physical Therapist overseeing a clinic in the west suburbs of Chicago. I am interested in buy-and-hold real estate and would love to employ the BRRRR strategy down the line once I have enough contacts and capital to pull it off. I am really struggling to decide what market I want to start off in with the choices being between my own back yard (suburbs of west Chicago), Madison / Southeast Wisconsin area, or Indianapolis. The Chicago area is a pretty high point of entry plus the problem of people leaving the state faster than any other in the country due to governmental issues. This is acting as a bit of a barrier for me. Indianapolis is almost perfect as it has a lower entry point, growing economy with good deals, but is about 3 1/2 hours away. The Madison / Southeast Wisconsin area is great because it is 2 hours or less away and has a great opportunity for investing as well, although the markets have really heated up recently especially with the announcement of Foxconn building near Racine.

I feel like no matter how much I learn through books, podcasts, forums etc., I will never feel comfortable until I get to see and do things in real life.  My dream scenario would be to meet other investors that I can just talk to in order to bounce ideas and numbers off and have actual discourse.  Not only would I learn more but I would also gain confidence in myself to trust the numbers I come up with and know a good deal when I see one.  As with many people, it would be incredible to potentially form a relationship with someone that could eventually turn into some form of a partnership.  There is no better way to learn than to do something with others more knowledgeable than myself.  So excited to start engaging more with the community!

Scott