how are you finding deals
How are you guys finding deals in 2019 in Indianapolis?
Last week a property hit the market. It was a great deal in a great area. It was gonna cash flow like crazy. I was in the process of making offer. Within 44 minutes someone already bought it. 😡
The rest of the time it seems like the properties are either in areas where my PM doesn’t want to manage or the numbers are not good on cash flow or cash on cash return.
It’s been 3 weeks since I visited Indianapolis. I only made one offer and I still have no property.How long does it take you guys to find deals in Indianapolis in 2019.
How are you guys finding deals and which neighborhoods (my pm only likes high rents $800 and up)? I’m willing to try anything. What works best in Indianapolis as an out of state investor .... Craigslist ads , direct mail marketing, both???
I’m kind of scared do wholesaler as an out of state investor because they normally buy in bad neighborhoods and/or properties that need major repairs. Since wholesalers often don’t want to work with your real estate agent it’s scary to trust them without your agent checking out and vouching the property for you?
I dont want to make offers on properties that my PM doesn't like that I will have to back out of later. That happened before and I was scared I was gonna get hit with a breach of contract.
I really appreciate your guys’ help.
I live in Indiana about 45 mins from Indy. If you can't find your deal there try looking a little further away. just today found a new listing for a 4plex for 140k full of long time tenants that looks promising. the investor competition away from Indy is near nothing so they sit with no offers for awhile just waiting.
@Jason Malabute My partner and I are in a small market 2.5 hours North of Indy in a town called Warsaw that is home to 3 major Orthopaedic/Medical Device companies. It's a fantastic market with incredibly high demand and climbing rents.
We use a mix of direct mail and bandit signs and have generated a dozen leads, have wholesaled some, under contract for a few currently and have a decent list of buyers lined up. We drive for dollars and target plexes and smaller multis but don't shy away from SFHs if the numbers are there.
Best of luck and feel free to reach out if you'd like to discuss!
