All Forum Posts by: Erin Weiss

Thanks for the tip, Matt Devincenzo. I'll have to work backwards next time when calculating.

Well the reason for ARV was due to lack of good comps, however I just got a call and they did not accept my offer. They had over 10 offers in two days and accepted one for over 100k I believe :(

Dang it!

Welcome! It's so great you're starting so young! I'm also into the college rentals. Good luck with your REI adventures!

Here's the deal I'm hoping to get. Please let me know your thoughts.

This is what I like to call a "grandmas house" type of flip. Great liveable house but just needs updating mostly in kitchen and bathrooms. Home was built in the 50s with original owner.

List Price: 95k
Renovations: 18k
Total Cost: 113k
Cost + holding costs + realtor fees: 127k

Potential ARV: 150-170k

Potential Profit: 23 - 43k

According to the 70% calculator a 162k sale price or above would fulfill the 70% rule.

Any thoughts, comments, suggestions?

Thanks in advance!
Erin

Indy is a tough area to get to know because there are so many pockets of good and bad areas. You can drive a couple blocks from one really bad neighborhood to a great one. I don't know exactly that intersection but do know that the East side has some rough areas. Be careful.

Welcome Latham Hawkins! Great to see another Hoosier on the boards!

Steven Gray nice to see another Hoosier on here :)

Mehran Kamari You said you own a duplex in Indiana...but I see you live in CA. Is that hard to manage living across the country? I ask this because we want to move to towards the ocean in about a year and I hope we can still keep all of our rentals!

Thank you Brandon Turner I appreciate the warm welcome! :)

The college rentals are going well for us. We like our local college rental market. We only have 2 right now but are working on getting more.

I set up my profile picture and a keyword. Thanks for the tip and I look forward to learning from your helpful community!

Hello all! I just wanted to introduce myself. My name is Erin and I'm a fitness blogger and am trying to dip into real estate investing as well. My boyfriend and I currently have a couple college rentals and are looking to buy a few more before. I look forward to learning from you guys!!