Indianapolis REI Market Tightening Up

I have spent the last couple weeks on the MLS bidding on hundreds of properties on my investors behalf.  After getting less than 10% accepted I decided to go back through the MLS and find out what all the rejected offers sold for.  I was amazed when I found out that almost every single bank owned/short sale property was selling for no less than 85% of the list price.  Many were selling for more than the list price.

In just a few short months I went from buying homes for 40 cents on the dollar to paying list price.  OUCH! Needless to say I had to sit down with my investor and re evaluate his price points.  It took some persuading but I was able to get my investor to understand that we couldn't buy the amount of homes he wanted for the prices he was offering and that he needed to be more realistic with his offers.

The good part about this whole ordeal is that I was able to make some great contacts with asset managers at some various banks.  I now have an untapped resource of bank owned homes that I have been purchasing for the past several weeks.  Some of these homes don't fit my investors criteria so I am repackaging them and selling them in bulk to investors. 

As an added incentive, I am offering 6 months of free property management services and 6 months of guaranteed rents on these properties.  Contact me directly to find out more about the properties that I can offer you.