All Forum Posts by: Rodney Kuhl

Welcome @Dan Perrott ! Where in northeast Indy are your rentals? Lawrence?

This is a great community to learn and share advice. What areas of Indy are you looking in to do your flips?

@Justin Owens As @Mike D'Arrigo said above, if those numbers are accurate, I think it's a no brainer. However, I wonder about the property if you can get it for $40k. Is this property off market? I looked at a property close to that area previously. If you want to send me a PM with the address I also can take a closer look and give you my opinion on the property.

@Raj Gandhi Gotcha, thanks for the input. Have you looked in any other parts of the Twin Cities or are you planning on just staying in Woodbury?

I'd say the LLC question could probably go in the Investor Basics or General Real Estate sections.

Thanks for asking this! I too would like to know a good online rent collection site.

@Raj Gandhi Welcome to BP! I live in Indianapolis now but I am from Minnesota, great place up there. I, too, spend my commute listening to the great BP podcast. Good luck with the rentals up there! Just curious, what kind of purchase price-to-rent ratio do you find up there? I've considered looking into buying a property up in Minnesota down the road.

@Jeremy Zindel Thanks! Sounds like a great strategy. And sounds like I need to find a lender who will let me do something similar so I can build up quickly.

@Ryan Mullin Thanks for explaining. I've been told several times that duplexes don't perform well here, but thought that would probably be different in areas like Fountain Square and Irvington, like you said. I saw you post on another thread up having a multifamily in Fountain Square and then converting it back to a SFH in about 5 years and selling it. Sounds like a great strategy. Very intriguing.

@Account Closed Indianapolis is definitely a great market to invest in! I would strongly suggest coming out here and checking out in properties you are thinking of buying in person, though. Sometimes I think people look at the pro formas and pictures and end up with a bad deal because of it. There are good turnkey properties available here though. If you want my opinion on any of them just shoot me a PM and I'd be happy to offer my thoughts on them. Let me know if I can help in any way.

@Jeremy Zindel Thanks for the explanation! Do you buy them with cash originally or do you use conventional financing to make the purchase, then re-fi and pull all of the cash back out? And does that affect the time you have to hold before re-fi?

The reason I'm asking is I was told by a lender than you can re-fi after 6 months but only pull out 70% of the purchase price, then after a year you can pull out 70% of the new appraised value.

@Jeremy Zindel Do you have to wait for 6 months or a year to do your cash out re-fi or can you do it right away after rehabbing the property?