All Forum Posts by: Gustavo Munoz Castro

@Jim Adrian, numbers definitely check out. It's not hard to find cash flowing deals in Indy, the challenge is not having them in C/D class areas and have some kind of appreciation play. Thanks for the input.

@Alex Deacon understood. It's definitely a cashflow deal and plenty of cushion with leverage, just I feel I paid a bit of a premium since its in the "nicer" part of a not so nice area that is right next to a nice area. Thanks for the input.

Just put this under contract yesterday for $62,500:

209-211 N Randolph St, Indianapolis IN

Looks like a 3/1 duplex with about 1700 sqft each side. Looks like it was bought as a turnkey rental in 2013. Each side is currently rented for $675. One lease expires 3/2018 and another 3/2019. COC return looks solid but y main reason to buy is that that area (Arsenal Heights) looks like it may pop soon and get fully gentrified (new bike trail being built on New York St, several flips and a spec built home all around). Rents are still lower but may be worth holding onto. Thoughts?

Next week I'll be doing an inspection and sewer scope, any other recommendations?

@Cameron Davis  I just put 209 N Randolph under contract , West of your Rural property. The area looks rough but also lots of flips and some new construction the closer you get to Holy Cross. The new bike trail on New York also makes me think of Fountain Square and how the trail helped that develop as well. Listed at $68K, under contract for $62.5K. It's a big one 3BR/1BA on each side and 1700 sqft each side. Both sides rented for $675 (I assume without utilities). Looking to cashflow for now and bet on the area appreciating in a few years. What do you think?

@Cameron Davis, where is your duplex located? Just put an offer on one in Arsenal Heights. Definitely a rough area near there but tons of new construction, flips and new condos everywhere as well.

Just put in an offer on a duplex in Arsenal Heights. The neighborhood is definitely looking up. Gentrification in full swing. Crazy that you folks had it pegged two years ago, kudos.

Thanks @Ritch Bonisa, you rock.

Does anyone have a ballpark of what it costs per sqft to build in Indy? I know there are tons of variables but a rough number would help. In Seattle, constructing town homes or multifamily is roughly gonna be $140-$180 dlls/sqft depending on finishes. This doesn't include any land development or utility hookup costs.

Ha, no rise intended. Thought Brandon self-managed cuz he's so awesome. Really nobody there or near there to rely upon? You wanna get into the biz @Brandon Turner?