All Forum Posts by: Jeff Wallenius

Hey @Steve Theders the BRRRR type properties are difficult out of state with some various speed bumps to be aware of. We have a couple options in the Indy area but I would go in with conservative numbers and realistic expectations on the refi side of life. Those refi appraisals are historically low. This process can be done, just hate to see someone over promise without some transparency. Happy to discuss further!

Hey @Garan Kama welcome to BP and enjoyed reading your post. I see your a firefighter which really caught my interest. I just took a year leave from the fire department after 17 years, to jump into real estate full time in Indianapolis. I'd be happy to assist in any way as I love connecting back to the firefighter family. I'll reach out directly.

Hey @Matt Miller welcome to BP! I was a 17 year career firefighter in Oregon and just recently took a year leave to pursue real estate full time. I'm living in Indianapolis now as of July. Let me know how I may be able to assist, always enjoy connecting with firefighter family!

@David W. I'll reach out via PM and send you some options!

@Lex Phumirat the answer to your question is not cut and dry. It all depends on your goals. If your just looking to own one rental property then I would advise on investing in CA. Hit the streets and see if you can drum up a deal, they are out there! If you want to ramp up and expand then it's possible to do out of state. It's also possible to lose a bunch of money, so do your due diligence! Plenty of options across this great nation but you need to be aware of potential stumbling blocks. 

@Chris Tolstoy if you are planning on doing a BRRRR then have your lender lined up prior. If you 1031 into a BRRRR property or properties then plan on leaving equity in the deal. Anyone that promises 100% cash out on your refi is not being truthful or realistic. Can it be done? Sure it can, but go in with the mindset that you'll be leaving cash in the deal. With that in mind, how does that change your investment strategy at all? In order to be successful in the BRRRR strategy you also have to have contractors and a team in place that will run these jobs with your best interest in mind. It can be done, just know your potential downside prior to jumping in. Happy to explain additional.

@Luke Hawkins I do have some small multifamily options. If your looking to finance I assume you need these properties completed and turnkey? I have some that need work but can also get them rehabbed for you. We should chat.

@Luke Hawkins I don't have an agent here locally but depending on what you are looking for I may be able to assist. What type of deal is in your wheelhouse?

@Phil T. I moved out about 2008 from that area. Still have a rental there so let it grow! Try Chemical Bank in Cincy, I've had some investors that have had success with them.

Let me know if I can assist you in any way!