All Forum Posts by: Pam Brown
Pam Brown has started 6 posts and replied 124 times.
Post: Thoughts on Waiving Inspections?

- Real Estate Agent
- Indianapolis IN
- Posts 139
- Votes 63
Always get an inspection :-)
Rather miss out on a deal than get stuck with some major defects that can be missed by the naked eye. Unless you have a really really good contractor that can essentially do an inspection for you so you feel comfortable waiving the contingency.
I didn't get to read all of these responses but I did see someone mentioned getting a sewer scope---on an Indianapolis, IN property. I second that motion because that could save you a lot of $$$$ if it's defective and needs to be replaced. It costs extra to add that to the inspection, but well worth it.
Post: First Time Flipper!

- Real Estate Agent
- Indianapolis IN
- Posts 139
- Votes 63
Hi Lilah. Kiavi is another. One of my Indy buyers just closed on a large Flip project with them yesterday. Send me a DM if you would like for me to forward a couple of direct contacts there. Happy Flipping!
Post: Section 8 out of state rentals

- Real Estate Agent
- Indianapolis IN
- Posts 139
- Votes 63
Quote from @Karim Elahi:
Quote from @Kerry Noble Jr:
Yeap it’s possible....my CA partners own 4 duplexes with section 8 tenants here in my market
Hi Karim---like everyone else is saying--S8 can be hit and miss just like any other tenants. If the S8 tenants romp the property they can be kicked out of the program. To me, that is the best incentive for them to "be good". There is a long waiting list here in Indianapolis for S8 rentals. Probably that way everywhere but I can just speak about Indy. You can send a DM if you like and I can have the pm team send you the current S8 amounts for Indianapolis. Good luck in whatever market you choose!
Post: Where should I invest Indianapolis IN, or Carmel IN?

- Real Estate Agent
- Indianapolis IN
- Posts 139
- Votes 63
Quote from @Justin Brin:
Quote from @Pam Brown:
----most of the neighborhoods under the 200k price range do vary street by street.
There isn't any data source that can replace good ol' boots on the ground on the local level. I've been in RE for over 20 years in Indy and most of the time I would still want to visit the area before sending my opinion to my buyers. Some I can nail without looking--but those mid-range properties are subject not only to the comps, but also to what directly surrounds the subject property itself...
Post: Where should I invest Indianapolis IN, or Carmel IN?

- Real Estate Agent
- Indianapolis IN
- Posts 139
- Votes 63
Agree with @Justin Brin Additionally----most of the neighborhoods under the 200k price range do vary street by street. And not just by a Zip or a map boundary. There are plenty of "solid" Zip Codes where all almost all properties within are going to be C+/B and above. (Check out 46220 as a great example) But those Zips are also going to be at the higher end of values. Say 225k+ ish.
Post: Where should I invest Indianapolis IN, or Carmel IN?

- Real Estate Agent
- Indianapolis IN
- Posts 139
- Votes 63
Quote from @Sean K.:
Quote from @Josh C.:
@Sean Keller
I can tell from experience your maintenance and turnover costs will be higher on 30th and east side Indy than Carmel.
This is a decent example, but there are nicer areas in Indy than this that would stack up better than Carmel (especially when you factor duplexes are plentiful in Indy) with only slightly more headache than Carmel vs the property you suggested which would be much greater headache.
The Indianapolis area (except for a few strong zip codes) can change within a few blocks. So you just need an experienced boots on the ground team that can help you out. Yes, most of my buyers are willing to pay more to get in at least a C+/B area to avoid the aforementioned headaches that come with lesser properties :-)
Post: Where should I invest Indianapolis IN, or Carmel IN?

- Real Estate Agent
- Indianapolis IN
- Posts 139
- Votes 63
Quote from @Sean K.:
Quote from @Jaron Walling:
@Sean K. Carmel and the majority of Indianapolis are polar opposites.
There's a 0% chance you'll find cash-flow in Carmel. Around the greater Indy area you can find, negotiate towards, or create it. This depends on the neighborhood (sometimes street-by-street), strategy (value add?), and ROI you're aiming for.
We have a rental shortage. If it's a nice rental at/or slightly above market you'll find qualified people asap. People want houses over apartments especially if you have a basement or garage.
Thanks Jaron for your reply!
If lets say I buy this house: 10815 Broadway St, Carmel, IN 46280
Purchase price: 279,000
Interest rate: 8.5%
Down payment: 25%
Monthly payment (including tax and insurance): 1,835
According to Zillow Rent Estimator the house can rent for: 1,995
(Management I will do myself, I will repair everything needed before tenant moves in, to reduce repairs needed for first year).
Monthly cashflow: +$160
Is that realistic or am I missing something?
(I guess first 1-2 years cashflow will be only 160 but after then I can raise the monthly rent another 50-100 then cashflow will be 210-260)?
Hello! Yes, this ship has sailed! I looked it up to view the pics and it is now pending. It will be interesting to see what they got out of it once it closes. (Friendly suggestion-- I wouldn't give exact details on here if it's a hot deal! That just gives others the chance to pounce on your deal!)
I've sold a couple of duplexes right near this SFH in Carmel. Those don't come around often though.
Agreed with what the majority say on this thread. It's hard to attain cash flow in Carmel. Much more opportunity in the Indianapolis and surrounding areas.
Post: Where would you buy Multifamily prop for long-term

- Real Estate Agent
- Indianapolis IN
- Posts 139
- Votes 63
Indiana is filled with opportunities for real estate investors. Continual need for all types of rentals.
Property values are below the national average. With a diverse economy and growing population, the Hoosier State is an ideal place to look a rental property.
Indianapolis has a huge amount of convention traffic. Also, there's a ton of existing medical facilities that offers growth for STRs and MTRs. Indiana University Health is building a 4 BILLION dollar facility in downtown Indy. 44 acres. So you could buy a duplex/4-unit and keep one unit as a LTR and the other as an STR. Or.....
Post: Private Money Lenders Indiana

- Real Estate Agent
- Indianapolis IN
- Posts 139
- Votes 63
Quote from @Jim De La Rosa:
Kyle | Bob:
I'm having trouble finding Hard Money Lenders in Indiana that will go under 75k. Specifically will be looking in Gary and Hammond. I'm a California contractor and will be selling my house to rehab full time in Indiana.
Looking forward to connecting.
Hi Jim
I see that this original post was from a few years ago. But you revived the thread! Let me know if you still want a couple of hard money lenders that do deals in Indy. I have a couple that I can email to you---and you can ask them about their stips. Send me a DM. Happy Friday! Pam
Post: Seeking an investor-friendly real estate agent in Indiana

- Real Estate Agent
- Indianapolis IN
- Posts 139
- Votes 63
Quote from @Kain Kim:
I reside in GA and am looking for a rockstar agent in Indiana. I'm particularly interested in the Cleveland area but also open to other areas. Please send me a message if you are an agent and know how to analyze deals OR know someone who does. Thanks!
Hey Kain! Let me know what questions that I can help with about the market in Indy :-)
I've lived here a long long time! LOL