All Forum Posts by: Mihir Bhimaraju

@Charles Mitchell I can share my experience. I was back home in India when I ended up purchasing a multi family in my backyard. I didn't do a walk through or visited the site even. The two key factors that helped me close on that deal were 1) a group of folks that I relied on and 2) numbers. This was before the book came out, but finding the right team members who know the market better than you do, who'll put your interests first and will look out for you is the most important part of your situation. I networked and formed a team first before looking at deals. As a newbie, I didn't have a clear idea of what I wanted. So working with a team helped me understand my criteria better, narrow down on the neighborhoods and coordinate everything from start to close. 

PS: The neighborhood you picked is not bad. But I'm sure you've heard by now it varies street by street. Nothing beats a good weekend trip getting yourself acquainted with the market.

@Charles Mitchell Once you shortlist a few candidates to be on your team, I highly recommend visiting the city to meet them 1:1. They should be able to steer you away from bad investments/areas. I also recommend connecting with OOS investors to see what worked and didn't work for them. See if your local REIA has anyone like that.

@Keith Shadle Congrats on getting started! It's definitely a good market to get into! Feel free to reach out and connect!

@Roberto Moita There are a ton of Cali folks investing in the midwest. I highly recommend connecting with your local investors and find out how their investments are working out for them. I've met quite a few folks from Cali who found great value in the local real estate meetups and clubs. So that would be a good place to start. Make sure to visit the market you pick to get to know the area and meet the team you pick.

@Nikki Botsko I'm a local investor and I found there's value in attending the local REIAs and meetups where you can network and meet like minded folks that'll help you get started! 

@Scott Passman There are a few areas that meet your criteria. No matter which areas you pick, I recommend making a trip down here to check them out in person and meet a few folks who you want on your team. Can't stress that enough! Feel free to reach out and connect!

@Scott Passman Congrats on getting started! You're definitely on the right track there. No matter which market you decide, I highly recommend driving down there and meeting local investors and attending REIAs. BP forums are a good place to connect with other investors in the market you're interested in. Feel free to connect if you're interested about my neck of the woods. Cheers!

@Son D.  Assessed value is more about taxes than the condition of the property. You'll end up paying more than the assessed value most times, but there are occasions when the assessed value is a lot higher than offer price because the condition of the property isn't the best. You can challenge the appraisal in that case after some paperwork.

@Ralph Roberts Columbus and Indy are two really good markets in the midwest. There are quite a few discussions about the indy market in the forums here. I'm sure you'll find tons of information. I do recommend taking a weekend trip down to midwest and drive to INdy and Columbus and see what you like the best. No matter which market you end up choosing, I can't stress enough to take a trip down here to meet your team and get a feel for them. I invest in Indy so my knowledge is limited to my market. Feel free to reach out when you decide. Good luck!

@Nish Ravichandran I typed up a lengthy only to realize I replied to your post on another forum lol. You should have an agent recommendation from me. Good luck and love your clear goals!