All Forum Posts by: Dave Jackson

I am currently putting together the last bits of a business plan to be able to take to investors who would be interested in investing in some SFH rentals in the Indianapols, North Indy burbs area. I have read and googled a lot about rates and quotes, but most of what I am seeing is from institutional investors on a large scale with rates in the 12-15% range. I feel that this is a bit high, however I need some opinions and advice.

This is not necessarily an ad for those looking to invest to reach out, but more of a request for some knowledge to give me a little leverage going into the process so I am not going in blind.  

I want to know what percentages to look out for, maybe some places to find a little "softer" money lenders, and general info that I may not know to ask for but I should know about when going and talking to private money lenders, especially in regards to the Indianapolis, Carmel, Fishers, Noblesville, Westfield, and Zionsville markets.  

For instance:

What are the "good" offers I should be looking for in terms of percentages? (being reasonable)?

What are typical contracting terms (6 months, a year, etc)?

Will lenders give me the full price of the home and the cost to rehab? If not, how should I go about getting the money to do this?

And any other questions that I didn't ask that I should have asked.  Please let me know, and I would love to talk to anyone who can share some knowledge and wisdom (or even talk about working together).  Thanks! 

Okay guys and gals, I have read SO many forum posts about land contracts, LLCs, S-Corps, etc. However, I can't seem to figure out what is best for my situation. I am not managing my own properties, so I don't need to protect that side of the business. I am simply going to be renting out rehabbed and turn-key properties (mostly SFH, maybe some multi-families for cash flow), trying to build up passive income this way over a few years, and then be able to quit my job now and invest in properties full time. I am not thinking about running my own PM firm for awhile, so knowing that, should I set up an LLC, or should I get an umbrella policy for my properties? Or, should I get a land trust? If so, for any of these, please help me understand why I should do what you suggest and how it is better than the others.

Thanks for all your help!

Hello all! 

I'm starting to piece together my plan to present to investors. However, I seem to have ran across a bit of a snag. I was recently told that banks will not allow you to refinance a property under the name of an LLC and that it had to be in your name. I heard the same for conventional mortgages as well. However, I want to legal liability protection that an LLC provides for my business, especially as it grows. Is it illegal to re-title properties in the name of the LLC? What are the consequences of doing do if it is legal? How do I protect myself if I cannot title it under an LLC? If re-titling is possible, is it expensive/worth it?

Thank you for all of your help so far!  I can't wait to get started and I have no one else to thank but all of you!  God bless you all! 

I will eagerly await your wisdom and replies. =)

I am a new investor seeking out multi-family properties in the Indianapolis area to buy, reno (if needed), and rent out.  I was curious as to what the average vacancy rate is for these types of properties and how much I should charge in rent to make vacancy rates low but still maintain a good income.  Obviously I now there are a lot of variables missing in this generic question, but any guidance at all would be helpful.  Thanks!

I am 24 years old and am looking for multi-family properties to buy, fix-up (if needed), and rent out.  I have heard from different people that you have to pass a test and go to classes to be qualified to rent out homes to tenants in Indiana.  Is this true?  And if so, what are the steps I need to take in order to do this the right way?

Hello all! My name is Dave and I am from Carmel, Indiana. I'm looking to get into the real estate investment market by starting out using the BRRR strategy, and using buy and hold properties to give me some income and good ROIs. If there is anyone in the Carmel, north Indy area that wants to say hey and maybe chat, I am excited to get to know you! Good luck in all of your ventures, and have a blessed day! =)

Hello all! 

I am VERY new in the game, and am young (24), but I know that with your help, I can make this a successful venture for my family.  With that being said, I NEED YOUR HELP! =)

I attended Brandon's webinar about BRRR properties, and it really hit me. In Indianapolis, there are TONS of these kinds of opportunities that I would love to jump on before the next guy beats me to it! However, I want to make sure and have a solid plan in place before I go to my potential investors and pitch them on the idea.

So, here is my question: Once you get a private loan from a lendor to buy and rehab a BRRR property, how do you go about transitioning that into refinancing with a bank? 

This may be a silly question, but it has stumped me.  I have some people telling me I need land grant contracts with my investors, others telling me I have to wait a full year to be able to refinance for 100% of the cost for buying and renovations or for the newly appraised value of the home after repairs, and I am just confused out of my mind!  Can someone give me some clarity on how to get from point A to point B when it comes to financing this dream of mine?!  I do NOT want to be caught off guard with anything that I don't have to be!  Thanks!