Good morning, Good Evening, Good afternoon,
My Name is Terron and I live in San Diego California with a desire to create financial freedom buy following the BRRRR method.
Currently I am looking in the Indianapolis area for distressed homes in the 20-30K range, however, is any one able to guide me in the right direction in choosing the right home/homes that I can create a positive cash flow?
IE: acceptable vacancy rates, crime and any other factors that I should be looking at. What credible sites are used to determine these demographics
Thank you in advance
Welcome to the Indy market! I don't personally work with $20-$30K homes, but there are plenty in the area that do. I'd be happy to steer you in the direction of a few if you want to send me a message.
Good luck and happy hunting!
We personally have found that the lower end homes like this tend to be in lower income areas, which will draw lower quality of tenants, hence costly at turnover times. A better strategy is to find homes in about the 60K or higher range due to the higher quality neighborhoods, good school districts also. We have a great contact there that helps us with all of this.
I hope this is helpful!
@Jennifer Beadles The homes that I seen so far are distressed homes that need work and a great team to get it rent ready. After the whole project I suspect I could spend anywhere from 40-50k ( a little closer to the 60K you speak of) Now, I live in San Diego and never really visited anywhere else so using google maps to "view" the area is a big shock to me. I hear people speaking of a c class neighborhood but c class could be different for different people.
Please introduce me to the contacts that you have.
Send me an email and I will reply to you directly.
@Terron Winn I am a SoCal investor that is looking at the Indy market as well. I am currently looking at the 70-140k range SFR so I don't have the contacts for the distressed properties but I can tell you that there are some great local wholesalers in Indy that have some amazing deals. Are you on any buyer lists for the major wholesalers?
@Com M. I have been added to about two different list so far. The capitol I feel comfortable with investing right now is about 30-50K since I am a new investor. Do you have some wholesalers that you are able to forward me so that way I can be added?
Terron, how did your investment turn out?
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