Equity / Cash Flow

Turnkey rental property in Terre Haute, Indiana. 4 bedroom, 1.5 bath, this property is available now at $47K. Renovations are close to completion, the lease is signed at $1000/mo with the tenants paying utilities. Solid property management firm is managing the property.

628 S Center St

With a shortage of buyers, and a shortage of quality properties for renters to live in, these houses are great opportunities for some decent cash flow, front-ended equity, and long term appreciation. Cash is king in Indiana right now.

We've just added 7 new properties to our website for Terre Haute. Take a look around and let us now what you are interested in.

Thanks for looking ...

Investors First Real Estate

Edited: 06/26/2010 at 05:08AM

Eric Badgley

Real Estate Consultant · Bellingham , WA

15 posts
1 Award

Icon_minipost May 03 '08, 09:16 AM

what is the market like in indiana? This seems like a pretty good buy.

Edited: 06/26/2010 at 05:09AM

Kevin Schick

· California

58 posts
35 Influence
1 Award

Icon_minipost May 03 '08, 09:56 AM

Originally posted by "EricBadgley"

what is the market like in indiana? This seems like a pretty good buy.

Eric, I think the positive aspect of Indiana right now is that due to the high number of foreclosures, there are some really great properties that are available at decent prices. And as I mentioned in my previous post, there is a shortage of quality properties for people to rent.

Basic strategy is to buy low priced quality homes that people want to live in, at a price that gives you the equity up front. These homes are not going to be appreciating 5-10% each year, but you are getting them so cheap, that they have high cash flow, and when things do turn around, you will be sitting on a very nice property.

www.npr.org actually had a segment a couple weeks ago about this very topic. If you have the money to be buying properties, and you do it wisely, it is a great time to be building out a portfolio.

BMR

Edited: 06/26/2010 at 05:09AM

Kevin Schick

· California

58 posts
35 Influence
1 Award

Icon_minipost May 08 '08, 09:09 PM

Multi-unit investment property, 6 blocks from ISU campus, currently 100% leased for $2,050/mo. Owner pays water.

1527 Ohio St

Property is managed by a licensed property management company in Terre Haute. Renovations are completed. We did the leg-work, you do the investing.

Investors First Real Estate

[i]Providing quality cash flow equity laden investment properties throughout Indiana,
through a longterm mutually profitable relationship with each investor.[/i]

Nervous about being an out-of-state landlord?
I'm doing it, and it works!
Message me for more information.

Edited: 06/26/2010 at 05:10AM

Kevin Schick

· California

58 posts
35 Influence
1 Award

Icon_minipost Jun 11 '08, 10:37 PM

Just an update for everyone on wet Indiana.

The property at 1527 Ohio is still available for sale at $97K.

It is 100% leased at $2050/mo with owner paying partial gas/water.

And most importantly, it is dry !!!

- BMR

Edited: 06/26/2010 at 05:19AM

N/A N/A

· North Carolina

32 posts
1 Award

Icon_minipost Jul 30 '08, 04:09 AM

Not very familiar with the Indiana market but decided to run the numbers out of pure curiosity, on 1537 Ohio.

A question first... you say $2250 rent, but in the flier it states $2050. Which is it?

Running the numbers with $2250:

Gross Rent: $27,000yr
Expenses (40% rule): $10,800
NOI: $16,200yr
20% down @ 6.375%: $5,808yr

CAP Rate: 16.7%
Cash-on-Cash Return: $10,392/$19,400 = 53.6%
Monthly cash flow: $866

Seems like a GREAT cash flow property. Am I looking at this correctly?

Edited: 06/26/2010 at 05:35AM

Kevin Schick

· California

58 posts
35 Influence
1 Award

Icon_minipost Jul 30 '08, 11:25 AM

Baltimore,

Yep that is a sweet one, but it does have a status of sale pending at this point. I posted another one, " Cash Cow" 912 S. 6th, a couple days ago that you can take a look at.

Also, thanks for reminding me to update the message in regards to the updated rental amount.

BMR

Edited: 06/26/2010 at 05:36AM