All Forum Posts by: Justin Polston

@Elena Dubinski

You could try First Federal, Union Savings, Napoleon State

@Elena Dubinski look for a savings and loan or a thrift that is local to you and a bank.

I use one here in Shelbyville that does 60% of your cost basis if you have a loan against it already. If you own outright they'll do near 75 LTV.

@Elena Dubinski

What part of Indiana?

Hey guys!

Firstly I want to say thank you to BP! It's helped us grow and network in more ways than I can imagine!

I always like to get feedback on our services. Your PM feedback awhile back has helped us continue to grow past the 100 door threshold and about to blow past 150. And 95% of our doors are in one town.

Having always been big on investing outside of Indy, I always suggest to folks to check into the suburbs. So if you end up on the E, S, or Southeast side of Indy, I try to be a good resource.

That said, we've been wearing a lot of hats for investors that seem to correlate to the "core 4" you hear so much about. Would you be bothered personally if your team (or most of it) were all under one roof?

@Kelly Reynolds I would stay outside of Marion county and would look to the suburbs of Indy, like Shelbyville, Rushville, Franklin, Greenwood, Greenfield, Greensburg...

Those burbs I mentioned specifically because of the tendency to lean to towards 1 to 1.25%.

If you go multi family then you're looking of course much higher.

You'll typically spend around 70k to 100k and get 900 to 1250 in rent on single families. On multi you'll spend 110k to 135k and get 2100 to 2800 in rents. You can also go after 5 and 6 plexel conversions here too.

There are also SOME opportunities for BRRRs but not unless they need a TON of work...plenty of turnkey though!

@Kyle Inbody as far as the cabinets go, you'd be surprised at how far a fresh coat of good self leveling cabinet paint will take your kitchen, especially when coupled with some good subway tile and crown moulding against the bulkhead (personally the bulkhead bothers me the most). Even some moulding down under the doors will make the cabs look totally different!

Nowadays, those cabinets done right would be "trendy" or attractive. $1000 cabs will fall apart so quick, let me tell you not fun repairing cabinet drawer faces. And those cabinet door panels are so easy to punch a hole in (for reference I'm thinking something like cheap as Chadwood oak that was so popular).

Good luck!

@Omari Heflin

My experience has been it's not what you know but who you know. Not necessarily marketing but making direct connections to the companies or factories. Timing is everything too.

A lot of what we deal with where I am is longer term, initially staged or furnished to an extent. Actually moving away from single family to more of a condo structure setting.

@Omari Heflin are they something the corporates would want? Are you thinking airbnb style or 5 year stints?

@Jonathan Chan start with a solid urban hub and search 30 min outwards into bedroom communities and you'll find solid numbers with room for appreciation. That formula has spelled success for a lot of my owners.

You've gotta be quicker than that! I'll keep my eye out. Just sold a tri for $110 appraised for 114k