All Forum Posts by: Bob Hinrichs
Bob Hinrichs has started 117 posts and replied 152 times.
Post: Attention Podio users
- Specialist
- Indianapolis, IN
- Posts 160
- Votes 20
@Drew Clements I've since started using Call Rail and been very happy with it. From everything I've read and been told, it works better with Podio and is more user friendly.
Post: Seeking Section 8 Investors
- Specialist
- Indianapolis, IN
- Posts 160
- Votes 20
Hello!
I'm looking for any active investor who buys and works with Section 8 rented properties. I have property inventory in Indianapolis of a few such properties with high returns, and I want to pair them up with the right investor!
Thanks,
Bob
Post: Slashing Prices: Indianapolis Rental
- Specialist
- Indianapolis, IN
- Posts 160
- Votes 20
Here is a lovely rental deal for somebody who wants to add a property to their portfolio! This property should easily pull $650 per month, giving it an NOI of $3,940. The house has hardwood floors, a solid roof and is in good shape throughout. With about $8k of upfront work (carpet, paint, bathroom work), this will be renting in no time!
| Assumptions | ||||
| Rent | $650 | |||
| Assessed Value | $33,000 | |||
| HOA | $0 | |||
| Cash Flow and NOI | ||||
| Cash Flow | Year 1 | Year 2 | Year 3 | |
| Gross Scheduled Income | $7,800 | $8,112 | $8,436 | |
| less Vacancy Allowance | $650 | $676 | $703 | |
| Total Operating Income | $7,150 | $7,436 | $7,734 | |
| Property Taxes | $660 | $671 | $683 | |
| Insurance | $600 | $600 | $600 | |
| HOA | $0 | $0 | $0 | |
| Maintenance Reserve (15%) | $1,170 | $1,217 | $1,265 | |
| Property Management (10%) | $780 | $811 | $844 | |
| Total Operating Expenses | $3,210 | $3,299 | $3,392 | |
| Net Operating Income (NOI) | $3,940 | $4,137 | $4,342 |
Post: Looking For Indianapolis Buyers!
- Specialist
- Indianapolis, IN
- Posts 160
- Votes 20
I actively wholesale all across Indianapolis. If you're looking for off-market investment opportunities, please let me know!
Send me a message and let's work together!
Post: Major Price Drop: Indianapolis Rent Ready
- Specialist
- Indianapolis, IN
- Posts 160
- Votes 20
Below are the details on a rent ready SRF in the lovely Irvington area. The property has consistently rented for $725 per month, and will make a great addition to your portfolio! With a $725/month rent, this property has an NOI of $4,390! The interior of the house was just painted, brand new carpet installed, and all the appliances are included (including the washer and dryer). The loft upstairs practically makes it a 3 bedroom.
I prefer to make conservative estimates. While the property has rented at $725 recently, I want to stay on the safe side. Check out the details:
NOI Estimates:
| Assumptions | ||||
| Rent | $675 | |||
| Assessed Value | $40,500 | |||
| HOA | $0 | |||
| Cash Flow and NOI | ||||
| Cash Flow | Year 1 | Year 2 | Year 3 | |
| Gross Scheduled Income | $8,100 | $8,424 | $8,761 | |
| less Vacancy Allowance | $675 | $702 | $730 | |
| Total Operating Income | $7,425 | $7,722 | $8,031 | |
| Property Taxes | $810 | $824 | $838 | |
| Insurance | $600 | $600 | $600 | |
| HOA | $0 | $0 | $0 | |
| Maintenance Reserve (15%) | $1,215 | $1,264 | $1,314 | |
| Property Management (10%) | $810 | $842 | $876 | |
| Total Operating Expenses | $3,435 | $3,530 | $3,628 | |
| Net Operating Income (NOI) | $3,990 | $4,193 | $4,403 |
Post: Indianapolis: Rent Ready in Irvington
- Specialist
- Indianapolis, IN
- Posts 160
- Votes 20
*Note, in my NOI calculations, I do always assume lower rents that I expect the property would yield, just to error on the side of the buyer!
Post: Indianapolis: Rent Ready in Irvington
- Specialist
- Indianapolis, IN
- Posts 160
- Votes 20
Hello BP,
Here are the details on a rent ready SRF in the lovely Irvington area. The property has consistently rented for $725 per month, and will make a great addition to your portfolio! With a $725/month rent, this property has an NOI of $4,390! The interior of the house was just painted, brand new carpet installed, and all the appliances are included (including the washer and dryer). The loft upstairs practically makes it a 3 bedroom. Check out the details:
| Asking Price for Contract: | $39,000 |
| Address: | 6013 Beechwood Ave |
| City: | Indianapolis |
| State: | IN |
| Zip Code: | 46219 |
| Township: | Warren |
| Sq. Ft. | 1,312 |
| Bedrooms: | 2 (and a loft) |
| Bathrooms: | 1 |
| Taxes: | $810 |
NOI Estimates:
| Assumptions | ||||
| Rent | $675 | |||
| Assessed Value | $40,500 | |||
| HOA | $0 | |||
| Cash Flow and NOI | ||||
| Cash Flow | Year 1 | Year 2 | Year 3 | |
| Gross Scheduled Income | $8,100 | $8,424 | $8,761 | |
| less Vacancy Allowance | $675 | $702 | $730 | |
| Total Operating Income | $7,425 | $7,722 | $8,031 | |
| Property Taxes | $810 | $824 | $838 | |
| Insurance | $600 | $600 | $600 | |
| HOA | $0 | $0 | $0 | |
| Maintenance Reserve (15%) | $1,215 | $1,264 | $1,314 | |
| Property Management (10%) | $810 | $842 | $876 | |
| Total Operating Expenses | $3,435 | $3,530 | $3,628 | |
| Net Operating Income (NOI) | $3,990 | $4,193 | $4,403 |
Let me know how we can do business together!
-Bob
Post: First Non-Performing Note Purchase--Help/Advice Please!
- Specialist
- Indianapolis, IN
- Posts 160
- Votes 20
Great input everyone! @Clay Manship, keep us in the loop with what you decide to do!
Post: Turnkey Rental Opportunity
- Specialist
- Indianapolis, IN
- Posts 160
- Votes 20
@Curt Davis I couldn't agree more! Sometimes you just stumble upon a property at the right time and the right place, and the stars align! I think they have here! (I probably could ask more for it, but I like to pass on some good profit potential to my investors)
If you are actively buying here in Indy, I'd be happy to show you the property. The condition and tenant are as good, if not better than my pictures show!
Post: Turnkey Rental Opportunity
- Specialist
- Indianapolis, IN
- Posts 160
- Votes 20
Hello!
Here is a brand new opportunity, fresh across my desk. This rental in Indianapolis is currently rented at $600 per month to a very happy tenant. The house is turnkey in every way, except you can choose which management company you want in place. The house has a maintenance free exterior, a one car detached garage, and has been owned by a very meticulous owner, who has kept everything in great shape! It's time for you to sit back an collect the checks!
Let me know how we can work together!
Bob