Home Buying in Indianapolis>Question Details

Fred Macias, Real Estate Pro in Orange County, CA

I am looking to buy investment property in Indianapolis. SFR or mult-unit, less than $100k. Are short sales a really good deal since I am not rushed?

Asked by Fred Macias, Orange County, CA Fri Nov 4, 2011

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21
Hello Fred

That really depends, they are a double edged sword. You can get an awesome deal that why but never turn down any inspection. But always keep in mind that when dealing with a bank to be patient! I had a deal where a client put an offer in, bank turned it down, 2 months later bank dropped the price, 1 month later the bank came back and said that if we put another offer in it would be excepted. We did and that bank turned it down and put it as a back up offer if a deal they were working on fell through. We retracted, the deal for the bank fell through, we offered again at $10,000 less than what they were asking and got it.

Its a dance so keep an open find and be willing to play the game.
1 vote Thank Flag Link Wed Jan 2, 2013
My name is Daryl and im the owner of AmerRuss property group in Indianapolis, IN. I have around 100 properties in the down town area great for investment. Im looking to liquidate some. my email is dd_design3@sbcglobal.net
0 votes Thank Flag Link Thu Jul 31, 2014
Did you find a property? I have 3 investment properties that you can buy for less than 100K--- contact randy myers at carpenter realty and ask him about the finer properties.
0 votes Thank Flag Link Wed Oct 23, 2013
I am an investor. The bank can be tricky. I recommend a good realtor to help you along the way. Someone to be your eyes and ears and constantly looking out for your interest. I recommend my Realtor Jamelle Walker. This is his contact info:

Jamelle Walker
317-453-0917
jamellewalker2002@yahoo.com
jamellewalker.kwrealty.com

Best of luck
0 votes Thank Flag Link Sun Jul 7, 2013
Fred,
We have several projects we are looking for investors to fund spec homes, development partnerships, remodel a $5 million plus home etc... great return on your investment and we have been in the business for 20 years. Contact us! http://www.PettyCustomHomes.com
0 votes Thank Flag Link Thu Apr 18, 2013
Hey Fred,

Is that the only area you are seeking?

Though you can come across great short sale deals, you can come across great non-ss deals.

Also, the asset managers have gotten much smarter in the last year with short sales; we're now seeing many of the short sales being approved at prices that are nothing special or different from other sales. Keep all your options open in regards to traditional, short sales, or REO's... You may find a great probate deal, or a traditional equity seller who needs to sell to relocate, or ...


Have you considered investing in Las Vegas, Nevada?

You can get homes below today's building costs, recently built, with high capitalization rates and amazing ROI, all with low fish and high returns.

Contact me directly to learn more, from purchase and management to sales, and more.

Mark, 702-291-8186
Mark@sellstatedeluxe.com

Or, visit us on the web:

http://sellstatedeluxe.com/las-vegas-real-estate-investments/
0 votes Thank Flag Link Tue Jan 1, 2013
Hey Fred...
Just checking around and following up with some Trulia questions. Have you found some investment properties that fit your criteria? I have a client that I am helping to purchase several investment properties around the Indy area, so I certainly can help if you don't have a REALTOR yet. Short sales can be GREAT deals if you do have the time to wait! Lots of foreclosures around too, if you don't mind fixing them up.

Call or text me if you still need some assistance, (317)503-0532.

Kathy
0 votes Thank Flag Link Tue Jan 1, 2013
I have 3 investment properties for sale in Indy. Contact randy myers at carpenter... I would like to sell as I have a property to buy elsewhere.
Flag Wed Oct 23, 2013
I have 44 homes 3 & 4 bedrooms, All rented, all new appliances and renovated. Monthly income
$27,433.00= selling price $1,700,000. Have bank to finance. 317-590-0011 Adam
0 votes Thank Flag Link Tue Dec 11, 2012
Fred, I'm a much bigger fan of purchasing those properties on which the bank has already foreclosed. They're often more straight-forward transactions that don't take forever. The lack of ambiguity allows you to move positively towards good decisions/investments and start earning returns. The REO properties are often a better buy anyway. There's obviously so much more that we could talk about. You can view my qualifications to serve you by clicking http://www.REALintegrity.com/intro.htm I'd be honored to discuss your goals and objectives and how I can help you accomplish them.

Hoping to be your real estate broker,

Tony Reffeitt, CRS
Broker / Owner
Integrity Real Estate
317-216-TONY
tony@REALintegrity.com
0 votes Thank Flag Link Tue Jan 10, 2012
We are so confident in our process & system WE WILL PUT OUR OWN MONEY IN THE GAME AND PARTNER WITH YOU TO PROVE IT. Most others can not or will not do that. WONDER WHY!!

TURN KEY CASH FLOW or TURN KEY PROFIT - We are a full service investment fund and realty company with property mngt. and construction all under one roof.... Don't get fooled by rookies or non investors.

360 Realty, Vintage Realty Fund, 360 Realty Property Mngt. & Eco-Nomical Contractors.
http://www.360-realty.com
call TOM MICHALIC 317-259-7286
0 votes Thank Flag Link Wed Jan 4, 2012
Short sales are only one side of the investment opportunities here in Central Indiana. We have a lot of tired landlords who have been successful but want out. If you can buy a property that is occupied and get it for 80% of value, that is better than getting a vacant place for 70% of market value. When looking for an investment, because to verify the cash and study the location! Location is long term, and with good property management cash flow will follow!
0 votes Thank Flag Link Wed Jan 4, 2012
We are so confident in our process & system WE WILL PUT OUR OWN MONEY IN THE GAME AND PARTNER WITH YOU TO PROVE IT. Most others can not or will not do that. WONDER WHY!!

TURN KEY CASH FLOW or TURN KEY PROFIT - We are a full service investment fund and realty company with property mngt. and construction all under one roof.... Don't get fooled by rookies or non investors.

360 Realty, Vintage Realty Fund, 360 Realty Property Mngt. & Eco-Nomical Contractors.
http://www.360-realty.com
call TOM MICHALIC 317-259-7286
0 votes Thank Flag Link Sat Nov 26, 2011
Yes Fred, short sales are an excellent deal - especially in Indiana where property values are low already. If you are interested in a multi-unit under $100K, email me at jrnotehunter@gmail.com

J.R. Ryder
0 votes Thank Flag Link Fri Nov 25, 2011
We are so confident in our process & system WE WILL PUT OUR OWN MONEY IN THE GAME AND PARTNER WITH YOU TO PROVE IT. Most others can not or will not do that. WONDER WHY!!

TURN KEY CASH FLOW or TURN KEY PROFIT - We are a full service investment fund and realty company with property mngt. and construction all under one roof.... Don't get fooled by rookies or non investors.

360 Realty, Vintage Realty Fund, 360 Realty Property Mngt. & Eco-Nomical Contractors.

http://www.360-realty.com
call TOM MICHALIC 317-259-7286
0 votes Thank Flag Link Thu Nov 17, 2011
The banks can be annoying to work with, definitely. But if you are not rushed and have the patience to wait for communication from the bank, you can find some really good deals. Also be aware that most (if not all) short sales and bank-owned homes will be ASIS. You can still have inspections done, but don't expect to have anything fixed before closing. So factor in rehab costs before calling it a deal.
0 votes Thank Flag Link Sat Nov 12, 2011
YOU FOUND THE RIGHT COMPANY... We have all services under one roof. Lic./bonded, insured Contractor, Property Mngt., Real Estate Brokerage, Investment Services.

http://www.360-realty.com

Call tom for confidential review of your needs.

317-259-7286
0 votes Thank Flag Link Mon Nov 7, 2011
Hi there...I am an investor in the Indy area...(others as well) Bank owned can be great..but since the bank-owned are pulling the other home prices down, you might be able to find a nice home in a nice area rent-ready. You do need a team...insurance, property management, etc. I would be happy to send you my connections. My properties are working out OK. I am looking to go into better properties..(better clients) Be careful with regards to the property taxes. I am looking at $1700 for a property valued at $45k.

Good luck...Sharon
0 votes Thank Flag Link Mon Nov 7, 2011
There are many strategies to out of State [and local] investing. A small part is the deal, the rest is the team on the ground. I would suggest finding an experienced, investor friendly, team that understands the challenges of investing remotely & can offer all of the services you need in one stop. Be sure major players on the team are also property owners as well - and not just a sales person.
For the investment amount you mentioned, you should be able to pick up 4 or 5, freshly rehabbed, SFH properties with at least a ROI of 20%+.
If you need more information about anything particular, please let me know.
Web Reference: http://www.sregproperty.com
0 votes Thank Flag Link Sat Nov 5, 2011
I would talk to James Metro, I've heard that he is a good downtown investment Realtor. He works at KW.
Web Reference: http://HudHomes.mobi
0 votes Thank Flag Link Fri Nov 4, 2011
I tell my clients not to get caught up in the disclosure of a property. Yes short sales and bank owned properties have the potential to be really good deals. However because banks have taken on so much inventory they are not always willing to take just any offer. When the bank is involved it is all about the numbers they have a number and if you guess their number you win.

I recommend that if you are looking for investment property to find a property and then have your realtor pull the sold properties in the area to see if you are getting a deal or not. You will see good deals in all markets bank owned, short sale, and private owned. It is just about if the seller wants to sell or not.

PS I know of a great condo in Carmel for $109,000 that currently has a renter and is for sale.

James Metro
Keller Williams
317 730 0009 text or chat
0 votes Thank Flag Link Fri Nov 4, 2011
Depends on what the bank will accept. Some get really good deals...Other banks don't want to discount the property much...
0 votes Thank Flag Link Fri Nov 4, 2011
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