All Forum Posts by: Josh C.

@Ben Panfalone Probably 75% of our client base is out of state. Let me know if you have any questions. Whoever you choose make sure they communicate well. Waiting two days for an email response is a sign of poor management. Good luck.

@Shannon S. Wow you must really need someone pulling up four year old posts. Anyway after doing about 200 houses since this one I relized i picked the picked the wrong guys. 12k wasnt enough and i should have paid the 20. LOTS OF PREP WORK. I can probably recommend someone but they will not be cheap. Reasonable and in line but cheap. If you to use cheap guys for inside work that’s fine, but exterior stuff and other jobs that affect how your house works shouldn’t go to people that don’t care. I’ve had to learn this lesson lots and lots of times. PM me if you need referral Good luck.

@Kevin O'Brien sound like you have some money and a good work ethic. Ball state is surrounded by cheap houses. You could probably pick up a dump for 25k cash or so and dump a bunch of sweat equity and long nights into it and make some good money or have your first rental. I started that way and it’s tough to beat free labor. Good luck!

@Joe Kim Not sure you can hire a “young person” Equal employer and all Also, seven Airbnb’s shouldn’t be a part time job. Lots of automation possible these days and if you have a reliable cleaning person and maintainance person shouldn’t be much of a time commitment. Good luck.

Correct. Couple of notes. Typically it’s done with cash or equivalent. Also, finding a bank to do 20% down on a house that cheap will be tough. 25-30% down will be more common. Also, the cash out refi or refi will most likely be 70-75% of appraised value. But that’s it. And if you find a good one you can even walk away with a big fat check at closing. Good luck!

Absolutely is the best way to invest in my opinion and what I personally do. However, these are not the 30-50k per door places. These are more of the 100k a door place that rents for $1350 or so. Usually older stock homes that need a lot of work. Let me know if I can help answer any questions. Indy is a great market.

Sort of a combination. They want to see similar buildings sold at what cap rate. That’s why nice places sell for 5-7 cap rates and ghetto ones sell for 9-15 cap rates.

Jay, you are worth way more than $400 bucks an hour. 😀

Just because a bunch of wholesalers who have a vested interested for you buy their property tell you there is a “promise land” doesn’t guarantee, or even mean anything. I’ve seen wholesaler say “in beautiful Brightwood.” Some locals do buy there, and they could be opportunity there, but it’s probably a long term play where a high quality tenant pool doesn’t exist at this point in time.

I don’t think the criminal justice center is going to stimulate anything. It doesn’t need to. If you have been active in this market for the past 3 or 4 years you can see this is a drop in the bucket. Cultural and demographic shifts are happening in this market. Glad I’m here to see the city change and wish I had bought a lot more before 2014. :) Someone will buy Angie’s list and move here in the next year or two. Plus our cheaper land, pro business government policies, and somewhat progressive (for the Midwest) attitude is attractive for new businesses. We’ll never be California or the like, but we are full of singles and doubles. Just be careful of the oceanpointe slider.