I'm a very experienced REI and landlord, but have traditionally only invested in my home market,, Fort Worth. Grew up in Indiana, though, and had planned to begin investing there eventually.
Long story short, a dear friend is needing to leave an abusive relationship, but her husband has screwed up her credit and she has several pets, so won't have much luck finding a rental. She has a good job and good income, so I'm willing to purchase a property to rent to her, but I don't really know Muncie. Ideally, I'd like to find a wholesaler with some good opportunities there, but I can buy off MLS if I need to.
If you know that area and have something I might be interested in, or contacts you're willing to share, I'd appreciate it.
In addition to a property, I'd like to find a good portfolio lender who covers Indiana. I'll probably eventually purchase several properties there, and might as well go ahead and establish a relationship.
Hi @Michael Hayworth. Sorry to hear about your friend. I hope everything works out. I am a wholesaler and have colleagues throughput Indiana. I'd be glad to help.
I don't the price range your friend is looking to be in. I have a deal in the Delta School district. It is in Farmington. If you are interested let me know. I come across deals all the time. PM me
@Mike York @Armond W. thanks for the replies.
Prices seem pretty low in Muncie. I'm seeing good-condition stuff with 2000+ sf for $85K in the north part, which she tells me is the better part. There seems to be some stuff lower if it needs a little work. If we were looking at MLS houses, I'd probably look at something like this:
Of course, you can't tell from the listing why it's priced lower than surrounding stuff.
She's a teacher in the Muncie school district, so would like to stay in Muncie in a part that's not scary for her young kids. I'm actually motorcycling from Fort Worth to Toronto right now, and am going to stop in Muncie this evening, maybe see what I can see while I'm there. I assuming with short notice that's going to be MLS properties, but open to anything, so if y'all know of something, please holler.
The property on Rosewood is probably cheaper because of its location (coupled with its condition). There are a couple of run down buildings and a not-so-nice apartment building just south of that house (and a liquor store at the intersection between Wheeling and Rosewood -- not horrible by any means; but you just don't get a "neighborhood vibe" right there. A half block east of Rosewood, it does feel like and is a residential neighborhood).
I personally live in Halteman Village -- which is just west of that property. Generally speaking, the north side is better. However, there are always exceptions. We have 3 rentals, all on the south side of town. And all of them are in perfectly fine neighborhoods. However, that is not universally the case on the south side.
Farmington is a really nice addition. It is right on the border of Delta and Muncie school districts and has a suburban vibe.
I have lived in Muncie for the last 11 years and I invest here as well. If I can be of any assistance, feel free to email me and I will give you my phone number and we can talk.
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