All Forum Posts by: Tyler Lingle
Tyler Lingle has started 51 posts and replied 411 times.
Post: Indy Investor Meet Up - with panel!
- Real Estate Consultant
- Indianapolis, IN
- Posts 432
- Votes 287
Welcome to the 3rd Indy Investor Meet Up! In this Masterclass, we are hosting a Financing Panel with top-performing lenders & investors to discuss how to best structure your deals and finances to succeed in real estate. This meet up is open to the public and a time to learn, network, build your team, and build momentum in your investing journey! Beer and light snacks will be available. There will not be full kitchen service.
Panel Members:
- Rex Fisher, Co-Owner of @properties brokerage, Investor with 300+ scattered site units
- Nick Giulioni, Owner of Off-Leash Investments & Off-Leash Construction Management, Investor with 150+ deals done
- Derrick Christy, Founder & Owner of Approved Mortgage, Serial entrepreneur, Commercial real estate investor & Developer, and Venture capitalist
- Jon Dages, Residential Loan Officer with FCM Home Mortgage, Investor-friendly loan originator
Post: Indy Investor Course! [Rough Draft]
- Real Estate Consultant
- Indianapolis, IN
- Posts 432
- Votes 287
Hi y'all, I created a 48 minute course geared for Beginners / Intermediates looking to invest in Indianapolis. It goes over locations to invest in for cash flow / appreciation, different strategies (MTR, LTR, STR, BRRRRR), how to run the numbers in context, and overall Indy principles.
This is a super rough draft. I'm looking for some folks to watch and give me some honest feedback!
- What was strong?
- What changes would you recommend?
- What could I be missing?
Plug it in on a drive and just listen maybe. Any feedback would be awesome!
https://www.loom.com/share/5a288ed761fb46cdb6a9cd9047f30675?...
Post: Adding an Electric Meter to Quad
- Real Estate Consultant
- Indianapolis, IN
- Posts 432
- Votes 287
Quote from @Richard F.:
Aloha,
Adding a submeter is not terrible, around $1k here. The bigger issue is how are the actual electrical distribution circuits mapped out? Typically, one circuit will provide power to all/most of the ceiling lights per floor, while multiple separate circuits will power parts of several room's outlets. Of course kitchen and bath also have additional individual circuits for appliances and GFCI. Changing this distribution so power can be completely separated from one unit to the other can be very costly, and usually involves opening walls. This MUST be done by a licensed Electrician.
Well it’s two separate units that are on the same meter so I’d think separate circuits?
Post: Looking for an agent in Fort Wayne, Indiana
- Real Estate Consultant
- Indianapolis, IN
- Posts 432
- Votes 287
Hi Nick! I’m an agent in Indianapolis but I have a network in Fort Wayne. Would love to help you there. The Find an Agent tab is also super useful.
Post: Help!!! New to this. 200k and no idea what to do with it.
- Real Estate Consultant
- Indianapolis, IN
- Posts 432
- Votes 287
You can buy a duplex in cash, or easily 3-4 SFR in Indianapolis. Steady population growth, great jobs market, weathers recessions super well. Safe and solid place to invest right here!
Post: Adding an Electric Meter to Quad
- Real Estate Consultant
- Indianapolis, IN
- Posts 432
- Votes 287
Hi there, I have a quadplex on the Near Eastside of Indianapolis. The upstairs units (2) share HVAC and an electric meter. The issue is, it's in my name and I forget all the time to back bill it to the tenants... I'm looking to do a new electric meter and permanently change it so that tenants can just put utilities into their names. Does anyone have experience adding an electric meter? Is it super pricey? This is Indy so it's AES. Any help is appreciated here!
Post: Best Zip Code/Street/Location for SFR Investment in Indianapolis
- Real Estate Consultant
- Indianapolis, IN
- Posts 432
- Votes 287
Zipcodes don't work too well as they are large and contain many variable areas. I'd suggest these for Cash flow / appreciation:
- Christian Park (C class)
- Bean Creek (C class)
- Garfield Park (B class)
- Irvington (B class)
- Emerson Heights / Bosart Brown / Little Flower (C+ class)
- Near Eastside (not so much Tuxedo Park - C+ class)
- Parts of the Near Westside near Hawthorne (C to C- class)
- Riverside (depends here... C- class)
- Mapleton Fall-Creek for duplexes (B- Class)
- South Broad Ripple / Fairgrounds (B- Class)
- Beech Grove (B- class)
- Speedway (B class)
- Devington area (B- class)
- If you want to pay 250+ then Broad Ripple (B class)
We (Roots) help people buy and sell in these areas.
Post: Where can I research for the demand for MTR? (Kokomo, Indiana)
- Real Estate Consultant
- Indianapolis, IN
- Posts 432
- Votes 287
I would highly suggest networking with other investors but also PROPERTY MANAGERS! These guys would have the intel you need. I do MTR but more so in Indianapolis.
Post: Indianapolis Roofing Companies
- Real Estate Consultant
- Indianapolis, IN
- Posts 432
- Votes 287
Quote from @Johann Villalvir:
I have a list with database with all the roofers in Indianapolis, message me and I'll share it with you.
@Johann Villalvir I would love this as well. Curious who people are leaning towards using!
Post: Does house hacking still work?
- Real Estate Consultant
- Indianapolis, IN
- Posts 432
- Votes 287
Quote from @Dan H.:
The actual cash flow on this is huge negative when accounting for all expenses. If rent is $1500/unit and his portion of PITI is $1k ($2.5k PITI -$1.5k rent of other unit) that still leaves maintenance/cap ex (~$500, two units at $250), vacancy (~$150), pm (even if self managing include the cost because it is work - ~$150), misc (book keeping, office expense, asset protection (umbrella or LLC), etc - ~$100).
Sum total is negative ~$400/month compared to renting.
On the positive: equity pay down, rent and property appreciation, tax benefits).
My view as old school is this “deal” is too slim for the effort of residential RE. I do admit finding deals that meet my profit expectations has gotten more difficult in the last 1.5 years (since the rate hikes).
Residential RE will not always be the best investment option. I currently see numerous other options that are both more passive and project better returns.
Good luck
I agree completely. But what's his alternative? Wait for perfect deal at 2018-prices / rates that doesn't exist or take action now? Yeah I would agree it's super challenging to find properties that cash flow in general in this higher interest rate climate.
If he refinances at a 5% rate (which could happen) that gives him significantly more breathing room.... TBD.