All Forum Posts by: Dave G.

@Justin Owens

Does the pre-approval take into consideration that it's an FHA loan, or does that not matter?

Everything is boarded up so I cant see inside, by the way. 

Hi. I am a newb trying to put together a new deal. I have found a rehab multi that I like and believe has potential. It definitely needs rehab before anyone can move in. Im confused as to what my next steps would be. If it were not needing rehab before someone could move in I would make an offer subject to an inspection and then walk it with contractor/inspector to see where we stood. 

However, since this one needs significant repairs before hand, is it unreasonable to contact the selling agent (i don't have a buying agent) to request sometime to walk through it with a couple of guys BEFORE putting an offer on it?

That is my leading option. The next one is contacting a 203k mortgage broker to find out how much I can afford in a mortgage before making an offer on the property. But I can't get fully approved for 203k without getting bids out to contractors.

Even typing this out, I think the way to go is to see if I can look at it before submitting an offer simply to see if it is even worth my time. 

@sonya h

I also posted this in a different forum category. The areas are written out int his post.

http://www.biggerpockets.com/forums/86/topics/200506-dangerous-places-in-indianapolis

@Sonya Hansell

It is very helpful. Thank you!

Thank you!

Hi all-

   I am looking to find out where the "Warzones" are in Indianapolis.  Essentially places that a person wouldn't want to go beause of the danger associated with the area.  I recently heard a story about an Agent who had a knock on his car window with a pistol and told to leave the area. 

Hello -

  I have seen a few times on here mentioning places in Indianapolis that you just don't go. I recently heard a story about a Real Estate Agent going to check out a duplex for a client and he was told to leave after a man carrying a gun said to leave the neighborhood. I'd like to avoid this, what are the places in Indy that you should not go to?

Hello all! 

    I am thinking about exit strategies in various businesses in the RE world. Most of them are obvious (sell the house, rent it out, flip it, etc). Property management isn't to me. I get that you would have clients (essentially a book of business) and places under contract that get you a cashflow, but how would selling this business work? What kind of sales prices do you think you could get? I'm interested to know just how big a PM company would have to be to get a '$X' valuation (say $500k). Any insight or help or better yet, case studies, would be welcome!