All Forum Posts by: Ernesto Hernandez

I just used niche.com for a particular zip code and I don't see how the get a B+ overall rating for a neighborhood that gets C- for Crime and C for schools with C+ housing. I would be VERY careful with their assessments.  B+

Overall Niche Grade

How are grades calculated?

1. Public Schools

   C

2. Crime & Safety

   C-

3. Housing

   C+

4. Nightlife

   A

5. Good for Families

   B-

6. Diversity

It's very likely on Valencia since the after event bar they mention is also on Valencia. 

Awesome. Appreciate the follow up. 

All great questions Preston. This was all new to me a few months ago as well. 

I would say your cash flow equation is way too basic. You need to factor in vacancy, anticipating for repairs, insurance, property management, etc. I STRONGLY suggest you watch one of Brandon's Webinars where he does a few live examples of this. The 50% rule is just a guide and can be very innacurate depending on insurance rates and property taxes in your area. 

Next, interest is annualized. In your example you would owe 6k if you held it for the entire year. If you move quicker, you would pay whatever fraction of the year you took to pay your lender back. If they allow you to pay them back at the end of the project with Jo payments in between that would be ideal. 

When paying friends who invested, same as you owing someone else or the bank. If you raise 100k from a friend, the faster the move, the less interest you owe. If it takes exactly 100k you owe your buddy 110k. Take just six months? 105k

Hope that was helpful in conjunction with the gentleman who answered before me. 

In this market especially, a good deal with be a magnet for cash. Post some here, in the marketplace forum. If not, I'm seeing more and more local group son Facebook, Craigslist, a website, friends ,family. 

Ultimately, it the deal is good, the money will come. 

Hey all, 

As I continue on my hunt for understanding all things Indy, I stumbled into this today and find it really useful when compared to attempting to navigate the Census and BLS websites. Hope some of you find it helpful as well. 

http://www.hoosierdata.in.gov/index.asp

Thanks Brant. Between Zillow, Rentometer, and Craigslist by Map View you can get a pretty good feel for rent.

I need to poke around on the Census site some more. 

@Thanh Nguyen

I'm down the road from you in Concord. I'm flying out to Indy in a few weeks and have built out a spreadsheet full of contacts, with priority on those with multiple referrals from BP and elsewhere. Happy to share everything I have with you. 

Lane is the second person who specifically comments to stay away from rents under $900. The other called it the $1000 rule. Interesting. 

Can someone please PM me this gentleman's info?

TIA!

Hey everyone, 

What are your favorite resources for researching a market and then specific neighborhoods?

What are your recommended outlines for narrowing down a larger area and then specific neighborhoods?

Would love to learn from you all and share some best practices.