All Forum Posts by: Jeff Wallenius

Depends on your goals and what type of property(ies) your trying to purchase. Are you looking to pay cash or leverage that $40K? If you want to jump into a single family home in the Midwest at cash then I would wait as you'll be buying a C-D class property at $40K. If you want to leverage and get into some properties now you can start, but begin by researching loan options first. 

Area is important, however if your buying out of state the most important component is your team! A plane ticket and cost of a hotel is a solid investment into your education. Plenty of hurdles to be aware of. Happy to share my experience if you like.

@Shevon Coorey you can reach out to me with any of the contact numbers listed in my signature. I look forward to connecting with you!

@Neal Collins thanks! I do still have the brokerage in Oregon. Hope all is well with you!

@Shevon Coorey and @Alex D. the area is important, however the investment team, property management and contacts in that area are more important. You have to find boots on the ground that you can really trust. I moved to Indianapolis to be on the ground from Portland, Oregon for this reason alone. I don't know all the areas in the Midwest, but I'd be happy to discuss some potential pitfalls and areas to be aware of.

@Michael Geraci the list of areas to invest in would take an entire thread. You are correct that Fountain Square is a great area, however the price points in that area are very high at this point as you mentioned. Bates Hendricks is a bit behind what Fountain Square has going, and is very popular right now. It depends on what you are looking to accomplish. Most of these areas are prime for a fix and flip, however if you are looking to hold there are areas outside the city that will yield better returns. Happy to expand if you want to send a PM or jump on a call.

I just moved to Indianapolis from the West Coast (Portland, OR) and have been investing out here for several years prior. Finding your team on the ground can be a daunting task and unfortunately there are both uneducated investors as well as bad characters in any city. I would advise you to fly out, see the areas, meet the people, determine your goals and map out a plan of attack. Let me know if I can help, there's plenty of deals to be had and I love meeting new people! 

@Michael Geraci multi families are an interesting animal in Indianapolis. There are some pros and cons and things to be aware of in that asset class. Happy to connect and share some of my experiences as I have just moved to Indianapolis.

Welcome @Danny Ko to BP and congrats on the new marriage! I just moved to Indianapolis and have been investing here for several years. Plenty to discuss and would love to connect and assist if I can help.

Cheers!

Hey @Stephen Benson nice to see a fellow firefighter on here! Let me know if I can assist in any way! Best of luck investing.