All Forum Posts by: Jeb Brilliant

@Sam Singh One of the many problems is that for example street 4, 5 and 6 have houses that range from $150k-$350k but there is a house on 5th street that is run down and will sell for $75k. No biggie it will get torn down and rebuilt for and sell for $300k+ but on 8th street there's a house for sale for $25k and the agent is trying to unload it saying less then .25 miles away there are similar homes that sold for $75k and once redone it will go for $300k. Problem is when you cross 7th street you are in a bad area. You may not be able to see it bc Google Street View of the area is from back in 2013 before any of it got good. Comps look great, houses just 2 streets away are going for over $300k. Locals know what's up but even people that live in the suburbs of Indianapolis let alone 50+ miles away or out of state have NO idea. 

Comps would never lie... wink wink... but they do. 

You need a team of people, starting with a PM or 2 that are both giving you similar advice and both have many rentals in that area. You have to gauge the level of trust you have for someone who's selling you something. Being an out of towner you have to suspect the agent is telling you just what you want to know to buy the property, they want that commission. 

I highly suggest going to AAA and getting a map of Indianapolis and going out there, meeting with different wholesalers, agents and PM's, asking each of them to mark up the map with good and bad areas and driving those streets, the good and bad ones. Then you will know better at least.

I have done really well with certain sellers. I like going through wholesalers but not everybody does. 

If you want to run some names of PM's, agents or wholesalers by me feel free to DM me and we can talk on the phone. 

 Glad to hear it... 

Hi @Shayne Whittington welcome to Indy... May I ask why you're not sticking to something a little more local? 

Anyways, I would recommend getting to know some of the wholesalers. I find that they have better deals. If you are interested in some DM me. Don't worry, I don't work for them, I just find they have the best opportunities for me. 

Good luck,

Jeb

Welcome to BP @Aaron Lucas. I would spend the next few months listening to all the podcasts if at all possible. At that point you will probably have a better idea of how to start buying your own cash flowing real estate. 

Good luck.

Hi Sam, 

The area you are talking about is like the rest of the city, block to block. Overall Butler Tarkington is good but you need to be careful of people selling you properties "adjacent" to that area. You should consider interviewing PM's right away so you can bounce addresses off of them. 

I'd be happy to chat with you if you want to talk about areas or PM's in Indy. DM and we can have a call. 

Hi Ashish, 

I live in LA and invest in Indy myself. I've purchased SF, small multi unit and now an apartment building. I'm also looking at 2 others at the moment. There is not a lot for sale right now and what there is is pretty overpriced. People are expecting Amazon to drop a pot of gold South of the city and they are basing prices off of that. 

If you want I can introduce you to an agent that I've been wanting to work with and I'm just waiting for the right property from him. DM me and we can talk. 

Best,

Jeb 

 Thanks for letting us know Randall. None of us want to see a fellow investor get hurt by a let's just say less than ideal investment. 

@Randall Degges I would highly suggest listening to the folks on here. I know @Josh C. and @Ryan Mullin , I know Josh better but they are both right in everything they said and they are both PM's in Indy who know the area. My suggestion would be to NOT experiment, take the advice of seasoned investors. This isn't a bad area of Indy, this is the worst and real estate is about location, this is a BAD location. 

Sorry to get excited but I don't want to see you get taken advantage of bc the numbers on a spread sheet look good. 

Welcome @Clevon Tilghman, There’s a ton of knowledge here to be absorbed and if I may suggest my favorite way... Listen to the podcasts, ALL of them. Good luck. 

Hi @Siva Kolappa I’d be happy to share with you but via DM or over the phone. I don’t like to endorse anybody publicly any more, I’ve learned my lesson the hard way.