All Forum Posts by: Brad Noe

@Beau Hollis please connect with me my wife and I are investors and she is an agent. She currently is working with an investment group from out-of-state that is actively looking for properties in Louisville.

Thanks for the share @Joseph King. It's interesting that sales were trending the opposite direction in June and July, only to pick back up the last two months. I think that can be partially attributed to buyers nervous about the upcoming election and the effect it will have on the economy and interest rates. That is a common theme I have heard - "get out now!"

Rajesh T. We are set to close next Friday 10/7. The closing was delayed 10 days by the lender because it took Fannie Mae 2 weeks to return the signed contract, thus delaying the lender from initiating paperwork. we are moving forward with the BRRRR strategy, with a goal of 20+ properties in 7 years. Thanks for asking! Cheers!

@Account Closed: Try Mike Shaughnessy at New Wash Bank in Sellersburg. He's a good guy to work with. He required 25% down on my current project to finance the purchase price and the rehab. Tell him I sent you please! 

Thank you @Todd Bauer! Those are some great points about the carpet and the roof. I definitely will take those into consideration. I'm a big fan of your company, I work for a local manufacturer of storage & organization accessories for kitchen cabinets. I'll definitely use you guys for my building materials where possible.

@Andy Binford welcome to the community. I am a new investor myself from Louisville but I am really honing in on Southern Indiana, mainly Jeffersonville. Found a great BRRRR project over there to start with. Here is my post describing that deal if you're interested: https://www.biggerpockets.com/forums/41/topics/345447-help-analyzing-my-first-foreclosure

Once the rehab has begun there and I have all my ducks in a row, I plan to begin some direct marketing around Clark Co. and Louisville to find motivated sellers. Let me know if you'd like to be added to my mailing list once that has begun - sounds like we are targeting the same types of properties and I will be looking to wholesale.

Cheers!

I have had an attorney tell me that the chances are remote of a Due on Sale Clause being called when transferring ownership to an LLC, but if it does all you would have to do is quit-claim it back over to the individual owner's name. Therefor, mitigating any risk. Any validity to this?

@Jeff Kehl @Brent Coombs: Hey guys, just wanted to let you know that Fannie Mae accepted our offer and we are now under contract! We purchased for $45k and hope to keep our rehab budget to $15k (or less), then rent, refinance, and do it again! Thanks so much for your great advice. 

Hi @William R. I am in a similar situation, just put a Fannie Mae Foreclosure in Jeffersonville under contract (BRRR strategy as well). Have you settled on an insurance provider yet? Any advice as I begin my search? We are looking at about a 2-month rehab most likely.

@Jay Leisten, @Jared Yates, @David D'Errico, @Account Closed:

Hi guys, I just discovered this thread. I'm an investor from Louisville. I've been to one KREIA event already (last month), and that was great, so I'm excited to see that there are so many other opportunities to network.

My plan is to build a business generating passive income through rental properties, utilizing the BRRRR strategy. I have been looking at and making offers in both Louisville and southern Indiana.

Let me know if anyone would like to connect and otherwise, I hope to meet you all face-to-face very soon at one of the local events.

Cheers,

Brad Noe