Hello, everyone! I'm Jane and am new to BP. After saving up for the last few years, I am finally ready to purchase my first out-of-state investment property. I came across a few potential properties in Mishawaka, IN and was hoping to get some insight on whether or not it would be a good area for me to find a property to BRRRR. A lot of the homes I am seeing are valued at $100K+, so I was planning to find a fixer-upper below market value to rehab to be appraised later for a refinance. I have $30K to invest towards my downpayment, rehab, and closing costs. Ideally, I am looking for a property that meets the 1% rule and can get me $100-$150/month in cash flow, since I plan to continue working full-time as I build my portfolio. As this will be my first property, I would like to stay away from any D class or Section 8 properties.
So BP, is Mishawaka, IN a good place to start? If so, do you recommend (or not recommend) any particular areas? I would also be interested to know what type of renovations I should focus on to bring up the value of my home.
Thank you for reading and hoping to hear from you!
Jane, I'm local and am currently doing a Mishawaka BRRRR. I've also completed 3 successfully in neighboring south bend.
@Jane I am from the area and have a portfolio there, if you are interested I would be happy to help.
please let me know if a package of sfr portfolio comes up for sale in your neck of the woods. Thanks
I am also interested in doing a BRRRR in Mishawaka from out of state. I am looking to build my team. Does anyone have a recommendation for an investor friendly agent?