Hello, I am currently in Indiana and looking to attain two doors this year. Currently, have one property which was my first home. I am interested in different strategies. I have been looking at more light cosmetic and brrr properties. Not sure how to best underwrite deals. Excited to learn throughout this journey. Thanks.
Hey Justin, it sounds like things are going well on your real estate journey. What area of Indiana are you in. I am a real estate agent in central agent Indiana. I also was originally from Marion Indiana and have done several deals in that area. I would be happy to help in any way that I can.
Hey Justin, it sounds like things are going well on your real estate journey. What area of Indiana are you in. I am a real estate agent in central agent Indiana. I also was originally from Marion Indiana and have done several deals in that area. I would be happy to help in any way that I can.
I think a reputable local hard money lender will give you some solid feedback on your deals. I'm in the Texas market and I really never went back to some HML who were not patient with me when I first started... even after I explained it was my first rodeo.
If you can find a group that is willing to give you feedback on how they will underwrite in your market, then you've found a solid win-win I think. They will tell you why the deal sucks or why the deal is a base-hit or a home-run. HML's interest "should" be aligned with your success.
Many of them now also have a Construction-to-Permanent financing program to do a BRRR.
@Danielle Nelson That's great that you are starting your real estate journey!
I don't have many tips as I am new into this as well and wish I could offer more. I started when I purchased my second house (my current primary), I did not sell my first house and turned it into a long term rental.
I think networking (on BP and local) plus learning what strategies you want to use would be a great place to start. That is what I am working on. Excite for your journey and feel free to ask me any questions.