All Forum Posts by: Scott Sherin

@KIran Kaur no worries! I made the mistake of thinking a cheap property meant I must be getting a great discount, and getting so fixated on that purchase price. Rookie mistake on my part

@KIran Kaur if that is your only criteria, there are dozens of homes going for under $60k in Indi. You should be more concerned about comparative home sales, in my opinion.

For example, if you buy a $60k home in need of a few repairs in a neighborhood where renovated homes are selling for $75k, your margins will likely be too slim to proceed.

If you find that same home at that price with those same renovations needed in a neighborhood where renovated homes are selling for $110k, that may be more worthwhile to pursue as a flip.

“Comps” are super important for flippers, ask your agent more about it!

Hope this helps!

I’m in!

@Nathan Cruz count me in 👍🏼

Hey William. It may be beneficial for you to join an area-specific investor group on Facebook. Although I haven't done my first deal yet, a few of the Indianapolis FB groups I'm in provide tremendous value for what you're seeking to find. Best of luck, let me know how it goes.

Hey Brian. There's a podcast called "The Indy Investor Pod" ran by a couple of experienced wholesalers - they recently did a mini series where they bring in some guests and analyze the different neighborhoods in Indianapolis. Different areas have different property values, crime rates, average rents, etc. Much to consider, good luck and let me what you find. 

Hello,

After narrowing down my research on which market I'd like to purchase my first turnkey property in, I've decided on Indianapolis. My next step- choose my TK provider. Can anybody make me a recommendation? (or tell me who I should stay away from). I've heard a few good things about PARC- I'd like to speak with more people who have gone through them or through another provider. Please share your input and expertise!

After doing countless hours of research on the pros/cons of turnkey investing, I've decided that it is my best option for my first property. (Due to time constraints and living in an area with absurd property value/taxes). I understand there are countless numbers of TK companies across the midwest, and my next question is which market to choose to begin creating my list of companies to interview. I'm looking for B- or better regions, and I'm set out to achieving at least 12% ROI after CapEx, utilities, and everything else. Does anybody have any experience or insight on where I should start? (I've got about $35k for a downpayment and around $10k in reserves). Thanks guys!

Thanks for the help Eric!

Hello, I'm a senior at the University of Delaware- originally from NJ. I'm looking to acquire my first rental property. 3-4 Bedroom, Between $130k-$210k, with no more renovation needed than just cosmetics- planning on having it managed professionally. I've read nearly every biggerpockets book, listened to nearly every podcast, joined a local meet-up, and spend hours on Zillow and Trulia practicing property analysis on local properties (mostly in New Castle). I've got a downpayment prepared and would like to start writing offers this up-coming fall. I'm looking for any local knowledge and connections to help me prevent future mistakes and make this process as painless as possible while achieving fair returns. I am hard-working and eager to jump in, would greatly appreciate any guidance and assistance. Thanks!