All Forum Posts by: Gloria N Gear

I love this post!!  I am married to a mechanical engineer in the aerospace industry who is enjoying flipping on the side.  I worked for 2 civil engineering companies before I became a realtor.  I have always said that engineers are a strange breed - their minds just think differently.  BUT, by having so many years experience working with engineers helps me work with investors.  It is all about the formula - if the deal works, great!  if not, on to the next project.

I am getting $950 for my 2/1 - 700sf.  We are working on rehabbing another 2/1 that is 1000 sf with a huge yard and detached garage, that i am going to market for $1050.  Most 3/2 are starting at $1250 depending on square footage -- $1500 is really the highest I have seen in the area and that is on a big 4 bed.

I just ran a search and there is nothing active around the schools today, but those houses are going for $125K range plus.  That is really the area I like best too.  PM your email and phone and let's connect.

Hi Michael & Kathryn,

First of all Michael, congratulations on moving from Illinois -- we made the move 8 years ago -- cheers to lower property taxes.

I personally have 3 rentals in Brownsburg -- I have smaller 2/1s in the downtown area near the new development.  But when I advertised them, I had a lot of interest -- people are begging for 3/2 rentals in that school district.

Unfortunately, I feel that in the regular "vinyl village" type rentals that families want, the sales prices are going higher faster and the rental prices are not keeping up so that you can reach the 1%.  Average sales price range from $220K-$260K and rentals prices are still $1300-$1400.

Would love to chat with both of you if you are interested.

Hi Rashad, I am in the Indianapolis market -- let me know if you would like to connect.

I live in Indianapolis and have rental properties here.  Yes, it is true -- that cap is a state law.  BUT, individual school districts can pass tax referendums by ballot vote to increase -- usually very small. Here is the site for the Indianapolis office.

https://www.indy.gov/agency/marion-county-assessors-office

Hi Clifton, I am in the Indianapolis market.  I am one of those weird real estate agents that actually likes working with investors.  I do a lot of networking and am contantly building my list of property managers, contractors, wholesalers, lenders, etc.  Let me know if you would like to connect so I can point you in the right direction to build a team.

Kirsten, I live in Indianapolis, and I agree with the other posts -- if you were planning on doing it yourself, just come do it! (We are doing it ourselves with one of our rentals -- so much cheaper).   If you do want to get some bids from other contractors, I can get you names.  Also, another thought -- see if your realtor or wholesaler will keep an eye on the project for you, so that you have extra boots on the ground to make sure it is progressing.  (I have done that for some of my clients).

Good morning, I am in the indianapolis area.  If that is area you need, I would be happy to do that for you.  I will PM you my contact info.

I am in Indianapolis, but I sold a duplex in West Lafayette to a good investor.  His name is Spencer Childers.  Not sure if he is on BP, so I will pm you his contact info.

I have a list of property managers in the indy area, and yes, I agree with the other comments that some work better in different areas of town.You also need someone that is going to match your personality and service your needs. I believe that the property manager is the most important person in your team - they can make or break your entire plan of wealth building.

I would be happy to share it with you and you are welcome to use it to ask others on this thread of their opinions as well.