All Forum Posts by: Skylar Blades

Thank you all. It means a lot to me. Grew up in a family that was all about working hard to make money to pay your bills to work hard the next week to make just enough to maybe pay more bills. The lessons ended there, no one taught me how to make that money work for me. I am trying to surround myself with people that are more like minded in the fact that there is more than that lesson. So, thank you guys the kind words are reassuring I am headed in the right way. 

Thanks @Benjamin Aaker currently working on a 3bed 2 bath right down the road with seller financing. I plan on working with a local investor on some commercial stuff as the next year progresses.

Investment Info:

Single-family residence buy & hold investment in Brownsburg IN.

Purchase price: $180,000

It's only flowing $100 clean cash but for the fight I had to put up to get to this point it's a win!

What made you interested in investing in this type of deal?

Just dipping my toes in the water. I was looking for a house hack, but the location, price point, and condition of this house made it hard to pass up. I would have preferred a multi-family set up to house hack but i will make this work!

How did you find this deal and how did you negotiate it?

2 weeks

How did you finance this deal?

conventional

What was the outcome?

Secured and rented out already at $1600 a month/ no utilities

Lessons learned? Challenges?

Many lessons learned through this short journey. Most of it was just knowing that this was what i wanted to do. First deal, First home kind of thing. Just head down and dig deep. KEEP MOVING FOWARD if this is what you want to do!

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I work with my agent Ryan who was AMAZING! We looked at a solid 30 homes and offered on about 14+. This was around the height of the sellers' market we just went through. We got beat up by the big dogs that are moving in on the area. We also fought single families that had emotional connections to these properties and a large sum of cash to go with it. In the end it's all working out and we are working on the next property every single day.

Hey Derek,

     I am a fairly new investor over on the west side of Indianapolis. Like you I had planned on going into multifamily but with the market being heavy on the seller side this past year ended up with a single family in Brownsburg. I am kind of taking the trial by fire approach to real-estate investing. I just took the jump and decided I would figure it out as needed I could keep reading and so on or just go do it.

 I do have a small group of people that I am trying to get to one place as a sort of "Master Mind" if you would like to join us. A few fresh investors a couple of agents, and property managers if I can find a day everyone will make work next week for coffee dinner or drinks it's still in the air. If you'd like to join that would be great. Shoot me a message and I'll add you to the group!

Best Regards,

Skylar Blades

Hi,

My name is Skylar I'm two months into my real-estate investing journey. I closed on my first single family a couple of months ago. My realtor and I searched hard all year for something that the numbers worked on and got beat out a ton. So, when we came across this property it was kind of a shock when my offer got accepted. Closing on the property happened before I had a chance to put a system together and rules for myself to follow. So, I'm kind of getting a trial by fire. I have a good tenet in right now I'm just trying to build myself up for the next one.

I do have a few questions regarding strategies and how you guys automate the payment systems.  What are some of the systems you all have in place for collecting and keeping up on rent? I am trying to put a system in place to automate this the most that I can. I do understand that it will still take leg work I'm just trying to take out the excuses of missed rent or late payment. Is there something out there that is a one stop shop to where I can not only post payments and such but also have it help with my bookkeeping as well that is a little like the program that AM4H uses on their site? I wanted to have all of this in order before I started but you've got to start somewhere. 

Thank you in advanced!

 I'll go back through and re-check it. I thought it was added in right but i might have missed a number. Thank you a ton!

(doesn't matter on the single family i was trying to put in a offer on as its already going for 30,000 over list haha)

 I will for sure. Thank you!

I'm newer to real estate investing as well as new to buying property.  The market I am in is very competitive and fairly high to get into. So the problem I am running into is the monthly payment on the mortgage being way higher than what I account for on the Rental calculator. I can't figure out why.

Basically the calculator say's that i should be in the green on cash flow with the mortgage and PMI but when i talked to my lender its roughly $500 higher than anticipated. Turning the unit into the negative with the going rent around here. Is there a work around that i am missing?

Any help understanding what I am missing would be greatly appreciated!