All Forum Posts by: Grant Anderson

Angel - I started out investing doing the brrr strategy in Indianapolis from Calfiornia. I had some setbacks due to being out of state and recently moved to Indianpolis to help build a better team and make sure my investments are working for me and my investors. Make sure you build a good team you can trust where ever you invest. Also, you should look at how easily you can get to that location if needed. Where I lived in California I had to connect flights and cost were a little high. I figured I needed to have a certain number of properties in the area to justify the cost of me to visit one or two times a year. Also, once I choose Indianapolis to invest I visited here to meet with people and get a feel for the city since I had never been there before. Let me know if you have any questions.

I have seen Carlos post "ghost" craigslist adds about an apartment he had for sale. When I inquired about one apartment he sent me a different one. When I asked about the one I was actually inquiring about he never responded. I don't think you have anything to worry about.

Is that $68,000 per unit or purchase price of $68,000? In my experience it is difficult to get a lender to loan less than about $70,000. It is not worth their time because the fees are too low. Therefore you would have to buy a property that is worth about $93,000 with 25% down. 

Since you are looking at the more than 4 units you will have to go with a commercial loan and they will typically look at the income the property will be receiving. Typically they want to see over about a 1.25 debt coverage ratio. 

I have not built a house on a vacant property before, so I am looking for someone with experience that would be interested in partnering with someone that knows what to do.

Great opportunity for rental or flip! Charming 2 bed 1 bath house in hot Bates Hendricks area on S East St. Needs some work.

Vacant lot in hot Bates Hendricks area. For Sale or partner to build a house. The lot is .08 acres.

I am looking for a good reliable contract in Indianapolis. I just purchase a property we are going to flip and need a reliable contractor. I know reliable and contractor usually don't go to gather but hopefully someone has one?

 Thanks Dan. Yes it is commercial funding. 

Hi All - I am going to meet with a couple local banks and credit unions next week. I am in the process of creating a package to give them so I can look as professional as possible. My partner and I are looking to refinance a couple properties and find a good lender we can continually use to do the BRRRR strategy with. Currently my package includes the partners resumes, company and personal schedule of real estate, company and personal tax returns for past three years. I was thinking about giving a couple examples of what we do, how much we have bought them for, rehab costs, appraised value at refinance, and rent amounts to give the lender an idea of what we do, should I include this? Is there anything else I should include?