I will actually be attending the October meeting and maybe I'll see you there.Rob

Once you complete the project you can refinance (without seasoning) for the purchase price + actual repairs done.    

The lender will use the original purchase price regardless of value (if the value is higher than your purchase price they will still use purchase price) After 6 months then you can use the actual value and not the purchase price.Good luck

Account Closed  Thanks Nick as always....Adam and I actually connected earlier in the week and his locations are tough for our coverage area!  

What actually sparked this post was a story I saw on a proposed development at Taylor & Madison (next to the church), trying to cram an apartment complex into the small lot where the vacant bank sits.  

Real personalized mail is so rare these days that it actually gets read.  

Some of my rentals actually went back to be worth what I paid for them, 20 years before when we had been in a flat appreciation cycle for 10 years.

Obviously I have some concerns with investing in an area that actually snows.1)  Would a rehab be advisable in Indy during the fall or winter?  

My math showed it is a 9 cap based on actuals and will be a 13.5 cap after it is re-positioned (market rents, sub metering water).

I have had an interest in becoming a real estate agent for a little while now but never took the time to actually begin my journey.