All Forum Posts by: Tyler Lingle

I can help. 

Great choice with Indianapolis! Our employment growth, population growth, and landlord friendly-policies are all a recipe for winning! I'll send you a direct message! 

Rents are going up in that neighborhood quickly and it depends on the finishes (carpet or LVP, Laminate Countertops or Granite). In general I would expect from 1100-1500 for a 3/2 depending on finish and particular area. I know that's a wide range. 

Hey BP, 

This will be my first time refinancing. I bought my SFR 2/1 rental in September for 79k and I'm hoping to refinance in March / April. I wanted to do what I call a "hybrid BRRRR" and basically get as much of my initial downpayment back as possible. I bought in cash using friends and family private money, as well as a good chunk of my own.

My questions: 

I want to get my 79k PP to Appraise for 100k. I'm planning on doing some updates in the bathroom as well as adding in Central AC, which it does not have. Tips for getting the home to appraise for as much as possible? 

Is leaving 25% in the deal fairly normal? Anyone have experience refinancing while only leaving 20% in? 

Any lender recommendations that are friendly to investors refinancing? I live in Urban Indianapolis. 

Hey Thomas, I've gotten a ton of investor clients from BP but usually by following up on forums and DMs! I'm an investor myself and an agent that does most volume with investors. I'd love to grow and see what you're thinking! 

@Nathan Gesner I agree. Options can actually lead to resentment. Probably best to just have your flat policy. 

@Dwight Cook for the month to month option. Keep in mind that one month of vacancy can screw up potentially an entire year's cash flow. My philosophy is to get quality tenants in the door as long as possible, year leases, and slightly raise rents every so often (they'll be unlikely to move out because of a slight rental increase). You'll probably lose these tenants it sounds like because you need to make a big jump. That's okay! Do what you gotta do. 

@Kerry Noble Jr awesome! I just shot you a PM!

Hey all! I recently got into the rental property game in urban Indy and I've been drinking from a water hose the past year. I currently have one SFR just south of Fountain Square and a Quadplex JV in Englewood. I'm an agent for investors too! Anyways, my bottleneck seems to be my knowledge of the market and strategic ways to get around the surge in home prices (15% on average in Indy) this past year.

That all being said, who would be interested in coming to an Indy Rental Property Investing Meet up?? Just to connect, swap stories, and maybe grab a drink and converse! I have a few locations in mind but open to suggestions. Cheers!

Hey! Good to hear your getting the journey started in Indy! I work with many first time investors and I really enjoy that process. I'm an agent with @ Properties. Would love to talk. Cheers!