All Forum Posts by: Grant R.

Indiana, Ohio, Michigan

List your favorite investor-friendly banks below. They should:

1) operate in Midwest (OH,IN,MI)

2) have competitive rates

3) be OK with transfer of deed after sale

@Bob Stevens You learn by doing, Bob. "Fall forward", as the wise say.

@Carlos Rovira Google is your friend here, sir.

Just do some searching.

https://www.google.com/url?sa=t&source=web&rct=j&url=https://www.in.gov/pla/files/Sellers_Disclosure_Form.pdf&ved=2ahUKEwil2vPduersAhVbWs0KHer2AM0QFjAAegQIARAB&usg=AOvVaw2T5vcBQ6kuHLAFIYb9Xdvk

Note that many of those forms that investors here in BP may have are unusable because they are 1) scanned 2) branded with realty agents company and registration number and/or 3) redacted and in need of heavy modification.

Hope that helps get you started!

@Brian Smith

Shoot me a PM, perhaps can assist in F.W.

@DJ M. It is not acceptable to refer to other users on this forum using derogatory terms. You don't know all the details, but you do know how to make a positive impact on this community. Next time, go and do that.

@Eduardo Cruz Here are some great starter options:

1. Buy a 3BR single family home with a conventional loan, 20% down.  Budget is $95k or less.  In your area, these should be available on or off market, and should cash flow $150 to $250 per month if done right.

2. Invest with a partner.  Find a partner of like mind with experience, and split a property with them.  You bring the cash and some labor, and have them bring some cash and experience.  50/50.  Buy a house, duplex, or even larger based on available funds.  Be sure to have an operating agreement in place.

3. Find a property where owner wants to sell and will do seller financing.  Offer them 10k down, and save the other 10k for repairs and maintenance cushion.  Fix and rent the property.  Pay the seller over time like you would the bank.

4.  Invest in a several properties at once using crowdfunding.  Check out FundRise, RealtyMogul, etc.  It's like a syndication where you go in on a deal with a group of investors.  Minimum investment is usually around $1k.  You could invest in 20 different deals, or maybe just 2 deals at 10k each.  The more you invest, the more you can earn.  Vet the deals just like you would normally.  All investments carry risk.

@Robert Ogez Hi Robert, welcome to Indiana. I occasionally work in Indy; my current investments are in Northern Indiana. I'll be down to Indy again this year for some real estate stuff. Regardless if that works, let's chat via email to kick things off. I'll DM you.

@Danny R.

Good thoughts, Danny. You might even be able to 1031 exchange your California profits to bypass tax hit if you plan on purchasing similar homes.

An LLC is a great idea. All in one LLC is probably fine to start. Having lots of LLCs gets cumbersome to manage. Consult with your lawyer to verify (get a lawyer).

Where in Indiana? There are plenty of good propert managers in most of the main markets.

If I can assist in any way, let me know. I'm in Northern Indiana, and available for on site work you might need (video tours, closings, project management, etc. ). I occasionally work in Indianapolis area as well.

@Thomas Lu

There are some buyers around who would be interested in the details. I'll DM you.