All Forum Posts by: Nicholas Smith

@Paul Ross -- Thanks so much for the thorough review!

@Mohamed Ghoneim - Thanks for your comments as well!  I sent you a message.  Would like to connect with you ASAP.  Thanks again!!

@GianKarlo Macapagal Pleasure to meet you!  I am here in the NWI area and would love to chat with you one of these days.  Northwest Indiana is a great market in my opinion.  It has become more competitive, but there are still some deals out there!  Let's connect.  

@Krista Burke Welcome to BP!!  NWI is a great place to invest.  I sent you a message.  So let's chat sometime.  Take care!!

@Rafael Nava I would get a firm handle on the finances first.  How are you looking to buy and renovate the properties?  Hard Money, private lender, cash, etc??  This will dictate what areas you need to be looking in.  And Indiana and Illinois are 2 totally different animals.  So you have to really get clear on your ultimate goal.  Once you have a clear goal, then you can put together your best plan of action. Let's chat when you have some time.  

Have you checked BP's directory of hard money lenders?

@Karla Prado Portage is a pretty strong and resilient market.  As @Adrien C. stated, properties are flying off the market there.  If you're looking at one day leaving the property and turning into a complete investment, be sure the numbers make since at the current price.  The small multi's have gotten pricey in NWI.  And it may subsidize your mortgage now, but will it sustain itself once you're gone...  

@Nick Wehrley My pleasure!  I definitely think there's a better deal out there.  Sometimes you just have to kiss a lot of toads to find the prince charming. 

@Reno Jones I'm going to shoot you a message.  

@Nick Wehrley Your numbers are very tight on this deal.  So if you get it for $80K and put $10K into it, you're already at 90K.  If it sales at $105K, you only have a 415K spread.  By the time you factor in closing costs, tax credits, realtor fees, etc, you don't have much margin for error.  Also, are you going to get a home inspection?  Some "easy" flips can turn into nightmares if not inspected properly.  

@Reno Jones Great to see that you're looking to take the plunge while you're still young.  Are you working with any local real estate professionals in your area?  Real estate is definitely local to your market.  And every market is different.