All Forum Posts by: Tim Key

@Lenny B.

You will find different numbers per different areas of Indy. General rule is the better the property (A+ neighborhood) you will have lower cash flow yet it'll likely appreciate and tenants won't be that much trouble.

Our first property is based in Lawrence (North East Indy) we got it wholesale for $70k cash. We put $8k rehab into it (floors and paint and few small other things) and its sitting at a $96K ARV. Refinanced out at 75% LTV on a 7/1 ARM 20 yr mortgage at 3.8% and its renting at $950.

So $950 minus
$428 mo Mortgage
$50 Property Management
$45 Insurance
$55 Tax
$47 Vacancy (5% of mo rent)
$76 Reairs (8% of mo rent)

So we are sitting at $249 monthly cash flow on a property we have $10k invested ($6k equity and $4k closing to buy/refinance) or around a 30% cash on cash return. Then its just rinse and repeat.

We closed on a duplex on the West side that is a cash flow play in a B- neighborhood with better numbers than the Lawrence property. But we expect more tenant turn over/challenges so we just doubled our Repair and Vacancy numbers to provide a resource WHEN (not if) these challenges arise.

I hope this was helpful - I love the numbers and wish more would share their numbers! 

Brian all thing are possible. 

Real estate investing, in my opinion, is about:

1. Relationships

2. Numbers

3. Long term goals (not get rich quick)

We are out of state investors in the Indy market. Bought our first property sight unseen (other that photos) because of a good team (boots on the ground) 

Go to Indy and start reaching out and ask for meet ups and then referrals. It is POSSIBLE. You might find all your data and plans my shift after you start talking to those IN the market. 

Exciting times! 

Mark. 

We live in Sacramento and my business partner in Denver. We just closed our first BRRRR earlier this year and a second one this week.

It was a SMOOTH process. Almost too easy. We started by coming out to Indy and building relationships asking for referrals and repeating. 

Doing so put us in touch with other investors (they will tell you the do’s and donts and who is solid and who is not) contractors realtors wholesellers and the like. 

In short it is 100% possible. #1 key is BUILD RELATIONSHIPS. 

Erin! Congrats

I love in Sacramento Ca and am in Indy now (2 blocks from Woodruff place)


We are securing another property out here. Let me know if you want us to stop by and be boots on the ground for anything. 

Super exited you are making it happen. 

George,

I currently live in Sacramento. If your still there let’s meet up. I’ll be back I town end of this week. 

I am currently in INDY now. We are picking up our second out of state rental. 

Short story you can have your cake an eat it too. 

Every one has their story of love to hear yours and share ours. PM me if you’d like to connect. 

We are meeting at St Joseph’s Brewing since Sun King is only open till 5p for carry out. 

The address of St Joseph’s Brewing is:

540 N College Ave
Indianapolis, IN 46202
United States

Come out and enjoy gathering with other investors. We will be there at 7p

BRAVE COVID! My business partner and I are out of state investors who are IN TOWN checking on our current property here and looking to meet up with other folks and more deals.

If you are an investor, whole seller, real estate agent, owner, lender, or just looking to get out COME OUT!

We will be at Sun King Brewing (We hear it's one of the best local breweries) tomorrow, Sunday 5/24/20, at 730pm.

Address of Sun King Brewing: 

135 N College Ave, Indianapolis, IN 46202

Time:

7:30pm

We would love to meet up with you. You can also direct message me so we can further connect. We look forward to having a good beer with all!
 

Message me on BP if you are selling. I am also looking for Hard Money connections and property managers. 

Cheers,

Tim Key

@Mark Creason  thanks! Sounds like you have some solid experience in different areas of real estate. I've heard about selling a flip property as soon as you can. I see a lot of pops lw have a 30 day goal to avoid holding costs but I've heard more average for 3-6 mo from buying rehabbing and closing before the property moves. What would you say is an ideal time farm from purchase to sell with a flip property and what is too long? 

@michael ran thanks for the reply! I checked out your profile very encouraging. In your experience have you ever had a realtor give you a short end of the stick maybe by not being truthful about the property stats just to sell ect or normally are realtors straight forward bc they create win win situations of them selling making a commission and you buying making an investment ect?