All Forum Posts by: Pam Brown
Pam Brown has started 6 posts and replied 124 times.
Post: Student Housing in Indianapolis Indiana
- Real Estate Agent
- Indianapolis IN
- Posts 139
- Votes 63
Thanks for your input!
Post: buying first property
- Real Estate Agent
- Indianapolis IN
- Posts 139
- Votes 63
Quote from @Omar Ciam:
.Thank you for the answer, can you recommend me some groups on Facebook where I can look.
In theory, with a partner in the United States, I would have split the investment of the brrrr. I know some lenders who offer 90% for purchase and 100% for renovation
@Omar Ciam you can just search "foreign investors group" on FB and quite a few groups should pop-up. Just look carefully for ones that are a good fit for what you are looking for.
Post: buying first property
- Real Estate Agent
- Indianapolis IN
- Posts 139
- Votes 63
Quote from @Omar Ciam:
I'm a beginner too, I've been informing myself around for a year. However, I have never taken my first home yet. In practice, I've been running around in circles for 3 or 4 months. Unfortunately I am bound by the fact that I am a foreigner but I would have a capital to invest under 20k. I have networked and met many people, investors, Lenders, real estate agents, property managers and general contractors. But I can't find a partner in America to dive in
Post: Student Housing in Indianapolis Indiana
- Real Estate Agent
- Indianapolis IN
- Posts 139
- Votes 63
Hello! I have been presented a portfolio of student housing rentals by the owners. They have them listed with another RE Broker, but are asking if I have a potential buyer. They are a package of SFHs on the south side, by the University of Indianapolis.
Do any of you have experience with student housing in Indianapolis or central Indiana? Success or horror stories? What type of returns have you experienced?
I assume the ROI would be similar in other Midwest states near Indy. Like maybe Ohio?
I'd like to get input from some of you that have "been there, done that"! Thanks!
Post: Finding BRRRR Deals Feels Impossible Sometimes — Let’s Connect and Hunt Together
- Real Estate Agent
- Indianapolis IN
- Posts 139
- Votes 63
Hi William
Indianapolis and central Indiana markets.
DM if I can help answer any questions.
Thanks and good luck!
Post: What advice can you share for a beginner exploring both local and out-of-state
- Real Estate Agent
- Indianapolis IN
- Posts 139
- Votes 63
Welcome to BP! Indianapolis Indiana is a popular investor destination. Look into it and let me know if you have any questions about the market. Cheers and good luck wherever you land
Post: What advice can you share for a beginner exploring both local and out-of-state
- Real Estate Agent
- Indianapolis IN
- Posts 139
- Votes 63
Welcome to BP! Indianapolis Indiana is a popular investor destination. Look into it and let me know if you have any questions about the market. Cheers and good luck wherever you land
Post: Indianapolis neighborhoods for cash flow and appreciation
- Real Estate Agent
- Indianapolis IN
- Posts 139
- Votes 63
Hey! I just stumbled upon your post. Did you gain the info that you were looking for? Indy is great. And you definitely want to go with someone with experience because the neighborhoods and Zips here can change by the block! Happy Investing :-)
Post: Trustworthy Connections for Out of State Purchase
- Real Estate Agent
- Indianapolis IN
- Posts 139
- Votes 63
Yes Sir!
Post: buying first property
- Real Estate Agent
- Indianapolis IN
- Posts 139
- Votes 63
Quote from @Mike Klarman:
This industry is a double edged sword. It is also unforgiving and it will punish those entering before they are ready. There's paradise here, but also disaster. I'm sure for every success story there's 100 disaster stories.
Entering with no money, no track record, no knowledge and looking to do a flip is a bit of a dream. What are you bringing to the table if none of the above?
In a small market in the midwest, somewhere in western PA through Indiana you can get into a house for under 100k and with 75k - 90k in work that house can be worth 270k - 290k. That opportunity is there in places like Pittsburg, Columbus, Toledo, Springfield, Dayton, Fort Wayne, Indianapolis. But to see a project through it's entire lifecycle 6 - 9 months, you'd need to absorb 40k - 50k in costs and fronting money. And if you do not have the proper money to see the project to the end then you'll get stuck and just be paying loan payments with the balloon payment looming over your head.
A zillion things can go wrong, financing is the least of the worries of an investor. The real problems come in the rehab and the exit. If the rehab isn't up to par then you can't get your exit, if the rehab is good and the market is soft you can't get your exit. You'll have a property be sitting for 45 days and you'll start the reducing game.
Also, very few agents present real comps, wholesalers almost never do. They show you top of the line comps only. So it is easy to fall into a project and then once you're in the middle of it and it has gone sideways, only then realize what a mistake you made but it is too late. There's waaaayyyyyyy more of those stories then there is of ppl coming in with no money and getting in and out of a flip with oop and making like 25k. The ladder belongs in a Disney Fairy Tale book somewhere in between Snow White and Cinderella.