All Forum Posts by: John Clevenger

@Zeriet Woldeab

Love to hear you’ve landed on Indy to invest in! As someone born and raised in Indiana I’m a true believer in the city and would love to help out!

Shoot me a DM and we can chat further about what would work best for you, and what I’m seeing in the market.

Hey all, as more of the world is taking on AI especially in the wake of chat GPT, I'm curious what other are doing, or thinking would be cool to do in the real estate field with the integration of AI. 

As an agent, I personally would love to hear your thoughts on how the implementation of AI will affect agents system processes or how it already has, however I would love to hear about it's impact in all facets of real estate.

Apologies if this is a repeat post, I haven't searched much on the forums for this yet. 

As an agent i'm always looking to improve on my processes and skills to help as many people as possible. 

Would love to hear any stories, moments, or information from fellow agents out there that gave you an "ah-ha" moment and really impacted your reach and success!

Thanks in advance for the replies!

Happy to send over some contacts as well, just let me know. 

I know I'm biased but I couldn't agree more with @Tyler Lingle. You'll be able to buy at lease one if not multiple turnkey properties here in Indy and they will cashflow immediately. If you buy it right, it will be hard to lose. 

We're positioned to appreciate, are a comparatively cheap market, have landlord friendly laws, a highway system that lets you get almost anywhere within 30min, and some substantial development in the works. 

Happy to chat privately about the Indy market if you desire and can show you what Tyler and I see!

@Jessica DiPonziano as @Steve Donovan pointed out a property being turnkey means something different for everyone which makes it difficult to asses. 

In general the more turnkey (perfect) a property is, then typically, they have less cashflow potential. There are obviously multiple variables that go into this and it really depends on the end purchase price and financing, however this is something to note. 

With that being said, for a first time investment property it may be beneficial to pursue a property that is fairly turnkey (doesn't need much more than small cosmetic updates) as the risk of a rehab issues and vacancy are much smaller or non-existent. 

***Don't let that general rule discourage you from pursuing turnkey properties! If you can negotiate and purchase a perfect property that cashflows you'd likely want to do that every time. I know there are turnkey properties (maybe some small cosmetic updates) I personally see on a daily basis that would cashflow 3-5%.

If you'd like to chat more I'm happy to dig deeper with you into your strategy privately. Don't hesitate to ask!

Unfortunately I don't have any real estate connections in Terre Haute but please let me know if so! Most of my in laws family lives there and I would love to know someone for the future!

Just curious, why the shift in markets? Are you finding something in Terre Haute that Indy doesn't offer?

 Couldn't agree more, was talking to a client who was looking for something within 20min of a hospital and it's hard not to find one!

Love to hear you're potentially entering your real estate journey in the Indy market. It has a lot to offer. I'm an agent here in Indy and have some experience with FHA so I may be able to help.

In regards to using the rental income as a source of income for qualifying, you unfortunately cannot. DSCR loans offer this capability however it is a much higher lending requirement. As Tanner mentioned, a co-signer would likely be a great route for you to take on this. Lets connect individually to chat further into what would be the best fit for you, sound good?

Regardless, good luck and I'm glad to hear you're in the Indy area!

Hey Zack, love to hear you've caught some interest in the Indy market, I'm sure it will treat you right. I'm also an agent in the area and have a few contacts that own STR management companies you could talk to if you're interested. If so, lets connect individually.

Looking forward to hearing from you!