@Andy Wayne First off, congratulations for taking action!
Post pics and also tell us:
* Why you chose Broadripple for your first investment property
* How you sourced the property
Sounds like your plan is coming together nicely!
Congratulations! I picked up my first rental in Indy two months ago. Before you think about converting and renting out the garage make sure that it would be ok with the city codes.
What would the cost of renovating the studio so you could rent it for 600.00?? You would have to put a small kitchen ( sink and undercounter refrigerator, microwave and counter top) and a bathroom in it.
Sounds like you have to do at least the painting of the house and how much more would it cost to "update" it? Converting the half bath to a full bath in that master suite might not work too well but then again I have not seen the layout.
It sounds like it will cash flow well.
Indy is a great place to invest.
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
Join the Largest Real Estate Investing Community
Basic membership is free, forever.