All Forum Posts by: Gabe Sasser

@Bill Thach I used Joe Holland for a property I had under contract. I appreciated the time he took to discuss his findings. Send me a PM if you need his contact information

@Young Park

Thanks for your response. I agree, I don't think of leaving money in the deal as a failed BRRRR either. I tend to lean more toward having an inspector walk the property before putting it under contract, but it's all about your risk tolerance and how hot the market is and how quickly properties are sold.

@Young Park, 

I'm also interested in doing BRRRR's out of state, but have a question about what you do when the contractor bids come in higher than you planned for in your offer to get under contract. Let's say the contractor identifies $10k of additional costs in their scope of works that you did not plan for, putting you at risk of not getting sufficient cash-out in your refi to cover the purchase price and rehab. After trying to negotiate with the seller, you find they're unwilling to drop the contract price. What do you do? Do you surrender your earnest money deposit (assuming you didn't have an inspection contingency)? OR do you typically submit offers with an inspection contingency so that you can walk when this type of situation arises when you and the seller disagree?

Thanks in advance!

@Alexander Kistler, I highly recommend contacting Gloria Gear if you're wanting to invest in the Indianapolis market. I bought my first property with her this year and she's been a great resource to learn about the Indianapolis market and educate me on the process. She helps lots of out of state investors. DM if you want to hear more about my experience.

Hi @Jared Ryan, 

As an OOS investor I have found the Indy Investors Podcast and the Out of State Indianapolis Investors facebook groups to be great sources of info. The podcast provides great info on the city neighborhoods among many other helpful things. The facebook group provides a large network of other Indianapolis investors and local vendors to network with or bounce questions off of. This is a great place to look for recommendations to build a team. I'm happy to connect if you would like. 

@Nicholas Hindes I heard it mentioned multiple times on the Indy Investor Podcast that Simple Wholesale puts out. There were particular well-known flippers and property managers on the show that advised not to go the multi-family route in Indy when just starting out. It's your call. At any rate, I highly recommend the podcast to stay current with the market.

Nick, I recommend you or someone else drive by the property. Indianapolis is very street by street. Also, I have received advice as a fellow new investor to avoid investing in multi-family properties in Indy. Especially if rents are $650/mo you'll likely be renting to lower income tenants and risk higher vacancies. 

Hi Kevin,

I highly recommend you check out the Indianapolis Out of State Investors Facebook group. I'm a newbie to investing in Indy and it's helped me. I also recommend you check out the Indy Investor Podcast. I'm currently building my team, otherwise I would provide recommendations. Best of luck to you.

I recommend checking out the Indianapolis Out of State Investors group on Facebook. There are lots of people and recommendations for different vendors. As a newbie myself, I have found it really helpful. I don't have a contractor yet, otherwise I would provide a reference.

Hey @Bryce Neal, I recommend connecting with @Derek Clifford regarding syndications in Indy, but I know he is looking for limited partners.