All Forum Posts by: Cheryl P.

@Javier Gaillard you have to use the @Jim Holmes in order for him to see your message.  When you use @ look at the bottom of post box and select name of BP member you want to reply to.

Happy investing.

Local Indianapolis investors I am looking for your recommendations on local REIAs that you attend.

Appreciate any feedback.

@Elizabeth Colegrove and @Ryan Jackson that you for the feedback, I am a member of the Hilton Honors program I'll have to read what they might offer and my active duty days are over but I will check out the Amex offers that I usually trash to see what they offer.

Wishing you both a very happy holiday.

@Sterling White thank you for the reply it confirms what I have been researching. I am focusing on properties with 100+ days DOM in those areas which on one hand can be good for MAO but than I want to know what is wrong with property that it hasn't sold in a B/C class area. Still not clear yet what is average/expected DOM and comps in Indy can range from $20k to $225K in a 1/2 mile radius.

Giving myself pep talks to release hands-on control needed for out-of-state investing and make that purchase.  I am still planning to make a trip to Indy to look at properties and hopefully get something under contract by year's end.

@Curt Davis  I like blunt so I'll respectfully disagree with you.  People that likely have never lived in a low income area (the hood) always assume that it will be a bad experience to invest there.  There are hard working honest people in these areas that stay because it is what they can afford and because they are among people they have known all their lives, they are loyal tenants that remain in properties for years and work hard to move from renter to home owner in a $30K or $40K house.  They are grateful for an investor that will fix up and sell them a lease option opportunity because they cannot qualify for a traditional bank loan right away. 

The same practice of screening your tenants applies in low income areas.  Before joining the military I grow up in Inglewood and Compton CA, the majority of the people in those neighbors take care of each other, we only hear about the 6 O'Clock news version of these areas.  If there are a 100 people in the neighbor peacefully living there lives we hear about the one ******* the in the news and he/she becomes the spokesperson for the entire area, same applies for the investor who had a bad tenant.  

Investors that have trouble in these areas either do not take the time to understand the market or the people that live there.  People in the hood know when someone really cares about/respects them enough to provide quality housing and who is just "collecting rent from those people" (and this is not about race, this applies in any low income area).   

Majority of my immediate family has lived in 46218 Bright Wood area in Indy for decades, my 80 year old aunt has been in her house for 50+ years. 

Just like any other area you have to know/learn your market and respect/screen your tenants.  Target the 100 not the one.

Posting this question in new forum for the out-of-state investors, what frequent flyer and/or business travel programs would you recommend to save on travel expenses for trips to acquire and check up on your properties.

Any advice would be appreciated. 

@Sterling White What area in Indianapolis would you consider class B and class C.  I would like to flip in my market but due to high costs and limited inventory,  I am in the process of researching the Indy market for cash flow opportunities that will allow me to rapidly acquire/expand holdings.  

I am trying to decide if I want to focus on class B turn-key with higher rental rates that are passive investment properties or look for properties with opportunity for forced equity in class b & c areas that will require more on the ground support and oversight for an out-of-state investor.  While the prices seem great I am having a difficult time getting comps so what looks good in comparison to my market may not actually be good in Indy.

How would you classify the following areas (still researching which hundred blocks to focus on):

Fountain Square: Laurel St, Spruce St, Woodlawn Ave, Lexington Ave, Pleasant St, Linden, Prospect, Orange, in FS but near it Reid Pl, S State St

Bates-Hendricks: (400-600 block) Wright St, Terrace St, Cottage Ave, S East St, 1400 block S New Jersey

Broad Ripple Village: (East 60th St to 67th) Burlington Ave, Evanston Ave, Crittenden Ave, Norwood Ave, Kingsley Dr, Ralston Ave, Primrose Ave, Rosslyn Ave, Indianola Ave, Haverford Ave

Butler-Tarkington: Still researching

Median-Kessler: Still researching

I am not opposed to low income cash flow properties in certain areas in 46218 Center NE.  

Wow that was a lot, I appreciate any recommendations you or others may have.

@Aaron Oliver

Welcome to BP, make sure to take advantage of all the great (and free) resources on this site.  

Check out the BP Ultimate Beginners Guide, all the podcasts and webinars.  Ask lots of questions.

Good luck in your investing.

This question is for the out-of-state investors, what frequent flyer and/or business travel programs would you recommend to save on travel expenses for trips to acquire and check up on your properties.

Any advice would be appreciated. 

Thank you 

@Clinton S. Welcome to BP.

This is a great site to aid in your RE education, I highly recommend you submit your questions here to get various opinions that will help you make your decision after you do your own due diligence.

You can try www.meetup.com to search for local REIAs, you should attend several different groups, you will know which one feels right for you.  I aways recommend you leave your wallet at home (this is a serious tip), as some REIAs can be heavy with up selling their's or others "systems".  If it still feels like a good idea after a few days following the meeting than make your decision about purchasing...but again run it by BP first as you can probably get same information for free. 

Sometimes the money you spend on a "system" could be used for something directly related to building your business, acquiring properties or building your reserves....ask me how I know this :).  You are going need reserves.

Read the BP Ultimate Beginner Guide, listen to the podcasts and webinars.  There truly is a vast amount here to learn from before you spend any money on education.  Check out the Education Menu above.

Good luck and happy investing.