All Forum Posts by: Matt Walker

@Mike F. Hopefully it’s either buying more properties or paying yourself back....right?

@Christopher Lane Chris, it sounds like a matter of a couple things. One, sounds like she makes a good steady income and was raised in a ‘nothing ventured, nothing gained” family with parents that may have retired from long term careers and got lucky, so she thinks you should be “normal” on those standards. Of course I don’t know. Remember opposites attract. That being said, it will be better for her to hear RE strategy from someone else so she can hear how it’s a much better way than anything else. Once she realizes that RE investing has made more first generation millionaires than any other industry in history, she might start tuning in. At the end of the day, the biggest factor is the WHY behind why you invest in the first place. If you ever want to chat, feel free to reach out.

@Stephen Witkowski Agents are great to have but if you’re an investor, they won’t likely be able to find the deals you need to be looking at because the best deals aren’t on the market, they are off-market wholesale deals. Not sure what market you’re in...but once you find a wholesale deal, you need to be able to know how to analyze the deal to make sure it is a good deal by the numbers. That being said, an agent can help you with the contract and negotiation but you’d have to pay them out of pocket because off market deals most often don’t have a seller’s agent involved. If you are trying to find out how to find wholesale deals and then analyze them, reach out anytime, I’d be glad to walk you through a few steps on a GoToMeeting.

@Carlos Soto - Hey Carlos, there’s only a handful of markets where you can still do good flips and buy/holds especially with $200k. But I had to leave my local market in Denver as well and now I find them everyday. Go check out BP Marketplace and see the 3 that I have posted on there now. I’m a SPOC investor, (Single Point of Contact) so I find deals, analyze them and when I don’t keep them, I sell them with strong #’s to other investors, some turnkey, some that need rehab, with a network of solid dependable GC’s, sub-contractors, and project managers & property managers in place. We always have to know the numbers, find profit and the Win/Win in the deal. Feel free to reach out.

Try this link for photos:

https://photos.app.goo.gl/Ux3JQG9nqe2MfgZw7

Location: 3825 East Lynn Street Anderson, IN 46013

Size: SFR 2b/1b, 1.5 story, crawl space, 1100 ft2

Neighborhood Class: B

Market Rents: $650

NET Cash Flow: $422/mo

CAP Rate: 10%

Pictures: CLICK FOR PHOTOS HERE

Tenant & management already in place

Taxes: $800/yr

Your cash price: $49,900

Add'l Info/questions - CALL

me @ 317-836-0600 This one will go QUICK, so CALL today to lock this deal up!

Location: 2329 Miller St. Indianapolis, IN 46221

House backs right up to Eagle Creek green belt, and just blocks away from Ely Lilly & newly planned - $1.3 BIL Development at Waterside

Size: SFR 2b/1b ranch 792 ft2, crawl space

Status: Occupied on MTM lease

Current Rents (est): $645 /mo

Market Rents: $725-$750

Rent Comp 1 - $700 -1309 S Sheffield Ave, Indianapolis, IN See on Zillow

Rent Comp 2 - $695 - 1414 S Belmont Ave, Indianapolis, IN 46221 See on Zillow

Rent Comp 3 - $950 - 1446 Hiatt St, Indianapolis, IN 46221 See on Zillow

NET Cash Flow (existing): $398/mo

Taxes: $820/yr

Closing Costs (est): $1000

CAP Rate: $4772 annual net rents / $30,000 = 16 CAP!

Your cash price: $29,750

Rehab Scope: Nothing upon purchase, currently rented/occupied. Update cosmetics only to increase rents and cash flow!

ARV: $45,000-$50,000 after updates

All Pics (copy & paste): CLICK HERE FOR PICTURES

Add'l Info/questions - 

CALL me @ 317-836-0600 to lock this deal up

Location: 1237 - 1239 S Belmont Ave. Indianapolis, IN 46221

Just blocks away from Ely Lilly & newly planned development - $1.3 BIL Development at Waterside

Size: DUP 2b/1.5b each side, 2 story, full bsmt, 822 ea. side = 1644 ft2 total

Occupied on MTM leases

Current Rents (est): $500 + $485 / $985 total

Market Rents: $700-$800 ea / $1400-$1600 total (after updates to market comparable condition)

NET Cash Flow (existing): $668/mo

Taxes: $840/yr

Closing Costs (est): $1000

CAP Rate: $8160 annual net rents / $53,000 all in = 15% CAP!

Your cash price: $53,000

Value (as-is): $81,600 on customary 10% CAP using Multi-Family income approach

ARV: $120,000 after $20k updates & rent increase to $700/ea side.

Rehab Scope: Nothing upon purchase, currently rented/occupied. Update only to increase rents and cash flow!

All pics: CLICK HERE FOR PICTURES

Add'l Info/questions - CALL

Matt @ 317-836-0600 to lock this deal up today!

Hi Steve, no experience with them myself. But there's a hundred prop mgmt groups out there. I wouldn't go by FB. BBB, Yelp and such are better judges of service. I might allow them to continue managing until they don't perferm (can't lease up your house in a reasonable time or don't get maintenance don't properly or too epensive) or prices, fees start to seem unreasonable, then start shopping around. You would not have to draw a new lease if you switch mgmt companies unless you choose to. But could amend the existing lease w  your tenant to name the new mgmt company.  Hope that helps...question, is this a turn key property? Do you always buy properties that are already rehabbed?

Jameel,

Congrats on your first deal! I'm an investor & wholesaler in Indy and do off-market deals everyday. What kind of questions can I help answer for you?

Best,

Matt