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Fernando E.
  • Rental Property Investor
  • SF Bay Area
103
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234
Posts

Small multifamily homes in Indy - OOS

Fernando E.
  • Rental Property Investor
  • SF Bay Area
Posted Oct 18 2017, 22:35
Hi guys, I'm from the Bay Area and planning to venture in the Midwest with a partner and started looking at MFH close to downtown Indy. I'm focusing on cash flow, and found a good realtor to help me find cash flowing properties, I'm not rushing but gave myself until end of year to close on a property. I'm targeting properties under $150K, COC 15% (yes I'm shooting for the stars, I'm a patient man with big goals and ambition). I'm analyzing using the bigger pocket rental calculator and analyzed around 10 homes already in the last 2 weeks, found a few possibilities and my realtor serves as my boots on the ground to scout the property. I'm also starting my pre approval process, there will be two borrowers my partner and I, both have solid W2. Our goal is to build a strong portfolio in the next 2 years of small MFH in Indy to ultimately replace our W2 and have more options, I don't see myself quitting a full time job but it's the sense of freedom and having the opportunity to spend time with family and love ones as I will be a married man in a few months :) I also listen to BP webinars religiously, and connect to fellow investors. My focus again is cash flow and appreciation so I'm focusing on properties in relatively good neighborhood. My question to the more seasoned BP OOS investors, if you can or desire to rebuild your empire, will you invest in Indy, if so where? What will be your niche market SFR or MFH? What's the biggest lesson learned you have in investing? Advice to newbies starting out to be successful? Thanks in advance for your input, very much appreciate it. I promise to pay this forward.

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