All Forum Posts by: Account Closed

Full of great information. But overwhelmed by salesmen at times. Great for networking and getting started in real estate.

Joe Kim Great Post! In the beginning I was a huge believer in turnkey companies. But I was new and naive to it all back then. I had a lot of good and bad experiences over the past 2 years which all taught me very valuable lessons. Moving forward I have found 1 company that meets my expectations and I will be working exclusively with them from now on. I think things will be smoother now that I have established a trustworthy team that has proven themselves with me over 6 different deals. The company is FS Houses and one of the very few I recommend out there.

Joe Kim Great Post! In the beginning I was a huge believer I turnkey companies. But I was

All this talk about the different markets means nothing if you don't have good people to help you in these markets. That's the tricky part.

Like @Account Closed mentioned above if you have experience and the right team you can make money off the 40k houses.  I just rehabbed 2 homes in the Garfield park area in January.  One was all in for $38k and the other was all in for $45k.  I am now cash out refinancing them and #1 appraised for $65k and the other appraised for $75k.  I will be getting all my money and then some back.  Tenants are paying $750 rent and are good working class people.  Most importing the homes are beautiful.  FS Houses is the team that helped me pull this off and Steve Lehman is one of the people who helped educated me on the Indy market.  I am forever greatful for these people and there help. 

Justin Owens I would be very careful in this situation as things can go sour very fast once you close. I had a similar situation where the tenant stopped paying her rent the day I took over. We ended up evicting her. What I would do to limit your risk is ask the owner for their application. Review her credit report ect and determine if they will meet your standards as a tenant. Also definitely go and meet the tenant. If you think it could work then negotiate a lease. Otherwise I would add an addendum to the contract that the tenant must vacate the property prior to close.

Bill Baldwin Shawn Huss at Talmer Bank and Trust. Best in the business by far!

COMMUNICATION!

Cailyn Aune may be able to help you.

I invest in both markets and both have there pros and cons. Birmingham has better inventory and you get more bang for your buck with lower purchase prices and really nice homes built post 1960's in some really beautiful areas such as center point. I was very impressed. The cons are they have a large section 8 tenant population and vacancy has been an issue for me as all 3 of my homes took over 4 months to rent. When you compare statistics like miles post above Birmingham is clearly not that great. Indianapolis is definitely booming right now. Especially the inner city. The economy and things like job growth and population growth are also very good. Strong millennial population for renting in the inner city areas in and around fountain square and Bates Hendricks. This is where I invest, however I will say it takes the right company to pull it off in these areas and that for me is FS Houses. The cons are low inventory and crazy competition as everyone wants to invest in Indy right now. Prices have gone up recently and I question if this will continue. The homes are older and can come with more repairs. Best advice I can give everyone make sure you find a good company to work with as this is just as important as finding a market. Good luck