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Dillan Mamou
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Newbie flipping homes in Indiana

Dillan Mamou
Posted

Hello, my name is Dillan Mamou and I'm based in Southern California. We all know the crazy home prices and cap rates in Cali, hence why I have been looking elsewhere and Greenwood, Indiana has caught my eye tremendously. I have been studying the market in Indiana for quite sometime and have got in touch with some contractors to navigate the best neighborhoods and what areas to avoid so I have a good understanding what a buyer would be looking for ( 3 beds, 1 bath, yard, schooling etc). It seems almost insane to flip a home in another state where I'm not able to see the project, but I know it can be done remotely. Being this is my first time ever flipping a home, what advice would you recommend I do? I got a preapproval from a hard money lender and I have some money for a down payment, but would like to stick with hard money. I have access to 65K in credit line if I ever need for an emergency. I Know that some hard money lenders do cover 100% of rehab costs which helps too! I'm just stuck in this decision making on whether to pull the trigger on a property in a state I've never been in before. I know people can be shady so making calls with the lender, contractor, and title company weekly is key to gaining their trust. What are some thoughts you guys have? Thank you!!

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