All Forum Posts by: Stanislav Perevozchikov

Hi, I'm under contract for a house and my lender is quoting me the following for 30 years fixed, 25% down. Seems high to me, what do you think?

Rate ..... Points

3.375 ... 1.875%

3.5     ... 1.500%

3.625 ... 1.250%

4       ... 1.000%

4.125 ... 0.750%

4.5    ... 0.625%

4.625 ... 0.375%

4.875 ... 0.125%

5      ... -0.125%

Thanks everyone for the advise, suggestions, and reaching out! I still haven't pulled the trigger in Indy yet as I haven't been able to find any reasonable deals that bring good CoC returns (12%+). It's a hot market!

Hi everyone, I'm new to both REI (been educating myself for a while now, but haven't pulled the trigger yet) and Little Rock. Currently considering a few markets across the US - it definitely looks like a seller's market as good deals are sparse. This turned me to Little Rock as I see there are a lot more deals for good CoC returns (12-20%). I know appreciation will be minimal in AR and I'm ok with that while I'm building up my RE portfolio.

My goal is to start with a SFH, build a team, create a system in place and then continue building my portfolio by investing in the area. Would love to connect with local agents, PMs, contractors, and other investors. Also, if you can recommend an investor-friendly realtor who works with OOS investors, please do so! Thanks!

@Christina Kim how did the reno end up going for you? Did Bildwise do the rehab?

@Mark Albini thanks for the advice. I've already done a bunch of research and selected investor-friendly agents based on the reviews and recommendations found online (BiggerPockets, Zillow, etc). Also, I already have a list of questions I want to ask them. From you POV, is it ethical to work with multiple agents at the same time or it's better to select one and "fire" them if it doesn't work out after a certain amount of weeks/months?

As I'm looking to buy my first rental, I've accumulated a solid list of 4-5 agents/brokers that fit my criteria (on paper). I've scheduled some time to talk to all of them to get a better sense of how their skill set aligns with my interests. However, I'm curious as to how do you make the call after speaking to all candidates? This is especially challenging for me because I'm investing OOS. What if I pick an agent and it turns out to be not a good partnership, can I still go back to the ones I initially rejected? Just curious how to navigate this, since I'm new to this and it feels like it'd be a bit easier if I could meet with them face to face from the start.

@Bruce Lee will be closely following your blog, thanks!

@Bruce Lee That is a wealth of information, thank you for sharing! When you first got started in Indy, did you have any other REI experience elsewhere? How hard was it doing all of this OOS? My current train of thought is like this, contact a few agents and PMs, then fly out to meet them and select one for each, then start shopping around for my first property. How long did it take you from initial contact to making your first purchase?

Another thing that I'm concerned about is managing long-distance rehab projects. I understand I can offload the majority (if not all) of the monitoring to my PM since it'd be in their best interest as well to make sure everything goes smooth and the property has a tenant as soon as possible. How time-consuming is it starting out/how much do I need to be in the area myself?

Also, my target property is somewhat similar to yours as well. Maybe even a 2+1 since the schools are not that great in Indianapolis and my ideal tenants would be a young couple/with a small child. Target price of around 50-80k with rehab 10-30k, similar rent of 1-1.2k depending on the area. I think this is doable.

Regarding PMs, did you have one/run the first property you wanted to purchase by them to get a feel for what the potential issues you might face, how much rehab would cost and how much rent you could collect?

@Brad Peralta thanks, best of luck to you too!

@Robert S. thanks for your input! This is definitely something I've heard others say and it's concerning. Indiana is one of the states I'm considering atm. 

Hi everyone. A long time BP lurker, hopefully a soon-to-be first time RE investor. This is my first post in the Indianapolis sub-forum, so I'll introduce myself first. I live in NYC and would like to get into REI. I've looked through dozens of markets across the country to find something that would fit the bill and Indianapolis might be it! I like the quote that's often mentioned, "live where you want and invest where it makes sense". At first skeptical, I'm slowly warming up to the idea of out-of-state RE investing, especially given the sky-high prices in New York. I've looked at some SFH in the Hudson Valley area, near the commuter line in CT (Stamford, Bridgeport) and the prices are still too expensive for me to buy a house with a 20-25% downpayment as I'm looking to put down 25-35k on my first property. There would be zero cash-flow and, perhaps, only appreciation (TBD) here. 

What turned me to Indy is a few things: (1) strong and diverse job scene, (2) new developments in the city, (3) low unemployment (at least pre-COVID), (4) possible appreciation down the line, (5) affordable to own RE.

My goal is to start with a SFH, build a team, create a system in place and then continue building my portfolio by investing the area. Would love to connect with local lenders, agents, PMs, contractors, and other investors.