A real life 30k flip, how to invest in Indianapolis real estate from out of state and do 30k flips?

by | Indiana real estate, Indy Anna, Real Estate Investing

Here’s a real life $30,000 Indianapolis real estate flip, Indy Deal Dissection step by step walkthrough from A-Z.

This is the first video in this Deal Dissection series where you see the start of $30,000 flip in the Indy market.  You’ll see everything from start to finish, soup to nuts and A – Z.  These classes are unlike any other kind of real estate education you’ll ever see because you’ll see the REAL LIFE costs, challenges, timelines, profits and updates in real time every week.

First of all, THANK YOU again for making this channel the number one channel for Indiana real estate on YouTube according google analytics and SocialBlade info for BigReia.com.  We’re also building the world’s largest organization of Special Needs Business Owners and Real Estate Investors.

Make sure go digest the ground breaking material at BigReia.com –

We are creating the world’s clearest instructions to empower any human being on the planet can start from zero and create a passive income of at least $30,000 a month.

Our mission is to make lifelong friends helping folks around the world create generational wealth with Indiana real estate and business building.

Now for today’s class on a brand new 30 grand Indy flip…

So here’s a quick $30,000 FLIP, this is a brand new deal and this is the FIRST of several videos to come on this deal, it is a 30k+ flip, or is it…

… today we’ll talk about why sometimes you do NOT want that quick flip money?  

Buy and hold rental real estate in Indianapolis, how to begin with investing in real estate in Indiana,  how does remote real estate investing work in Indy?  What’s a buy and hold deal look like in Indy?  How do you rehab a rental  house in Indianapolis?

This is the “Brenda House Introduction”

If you’re paying cash for a rental property a good projection for return is 4-5% a year, 8% after year two.

That’s according to Forbes.

Good news here is that in Indy we can still aim higher with our purchase prices, our team’s timely rehabs, property tax cap rates, and landlord friendly laws- yes lol not being legally bound to pay any utilities adds up too! We have a TON of other classes on all of these exact topics, be sure to check them all after this class.

It’s unrealistic to assume that you’re going to get into most any market at purchase prices of those even three years ago, those are just the facts of the housing market in the US right now. However, it’s equally unrealistic to think it’s simply no longer possible –

YES, you can still get into houses here in Indy and rehab them for rentals.

Today I’m going to walk you through an Indianapolis rental property we are going to rehab and turn into a rental and give you some of our pre-rehab updates.

Indy Anna explains:

The before of this property

The work being done to flip it

The numbers in the deal so you can follow along

When we get into a property in Indy we go into it with a few things in mind:

Purchase price
Rehab costs
Renter policies

Okay, so let me get started with the purchase price here; we want to get into a property for no more than 70% all in- that’s all the money in.

In other words, the first ‘chunk’ of the total 70% we are budgeting to spend will be that of acquisition.

In this case we are going to have some HML fees as well so we NEED to keep those in mind.

– Origination fee
– Appraisal
– 2-3 points
– Administration fee
– 10-13% interest on borrowed funds

All in all we are looking at closing costs of $10K down and $1300/mo in HML debt service- including insurance and we’ve made another class on insurance for rehab worthy properties as well so be sure to check that out after this one for more info.

This particular borrower is approved by the HML for an amount over the rehab and purchase price, and the LTV at 70% covers both – so cash to close in this case is –

So here are the numbers on this property:

$100K purchase price

$40K rehab

$210K ARV

We are no more than 45 days into a property before the rehab work is done. The reason we press for work to be done as quickly as possible is to get out of these HML rates as soon as possible- this is what our buy and hold investors need FAST. 

You can follow along on one of our duplex deals and flips in other class and as other updates come along here as well.

In most cases, while a 3/1 is more ideal than a 2/1 or even 1/1 for an Indy rental. We are looking at $1,600 a month here in rental rates, but keep in mind this is a Class B area and it’s a long term investment. The better the Class area, the less of a monthly rental yield you’ll see. This is up to the particular investor, but it can mean fewer tenant issues in a lot of cases.

So before I get into the pictures I already got a few questions on this, first why not flip it?

If we are into for 160k and list it for 210-220k then the profit would be at least 30k+, right?
– Yes it would be nice flip, but remember flips are NOT the goal, the goal is PASSIVE INCOME
– This is a B+ to an A- area, and nicer areas you do NOT find many 1% houses (see our other classes on 1,2 and 3% houses)
– So if we are all in for 160k we can rent it for 1,600 a month and have a nice, good class rental at 1% (1,600 is 1% of the 160k)
– Think of BRRRR like a flip that you also keep, with an ARV of 210k we can refi around 160-170k pull some cash out walk away from closing with 10k and a 1% house in a good area
– So with our investors these are the kinds of calculations that we are always helping them make and walking them through, if you want to apply to be an investor go to BigReia.com.

And a quick reminder about our Deal NAMING Policy and other classes:

A quick note we went over the process of naming and how each B or F tells you what kind of deal it is and we are using examples to outline specific lessons you gys can follow along:

So here’s a quick note on some of the other Deal Dissection videos we’ve made to walk you through other deals:

Brooklyn – $50k duplex BRRRR deal
Brenda – $30k SFR flip/BRRRR (not sure yet lol)
Brandon – $70k duplex BRRRR deal (could be 70k flip)
Bryce – $120k Buy/Hold new construction vacant land (New Home Builder Model)
Brianna – $250k Five pack of houses BRRRR deal –
Brock – 100k four-plex BRRRR
Brittany – 50k SFR BRRRR

Fred – $30k SFR Flip
Frank – $25k SFR Flip
Flynn – $200k SFR Flip with vacant land new home builds
Francis – $150k commercial apartment complex flip
Fredo – $40k flip converting a duplex into a SFR
Flavor – $20k SFR Flip to over negative cash flow
Florida – $15k Flip WITH $25k financed

If you have questions about any of those deals, you can go to BigReia.com and watch their class.

Okay so THANK YOU so much for the great feedback on the classes like this and a Hero suggested a new naming Policy so from now as we name each deal we make a video about, if the name starts with an F it is a FLIP if it starts with a B it is a Buy and Hold or BRRRR.  So this is Brenda, and here are the pictures I’ll walk you through what to look for and how to estimate repairs these are the BEFORE and as we do work you’ll see the during and after and up to when actually rent it out:

So, like I said we are just getting started here on this one and we’ll have other updates coming along – stay tuned for those.

So in summary:

The before of this property

The work being done to rehab it and pics

The numbers in the deal and why a 35k flip is better as a 1% rental

(since is the first video for this deal, below are the BEFORE pictures)

If you qualify then you can apply and we can help you do deals just like this from your house.

Remember if you want to apply to be an investor go to BigReia.com and follow the steps if there is anything else I can help with please email or text me and I’ll make sure to help.

Upcoming we’ve got our always free printable download and the adventures of our BigREIA friends. If you want to do deals like this here in Indy, we can set up a time to chat and see if we’re a good fit to work together, but for now – go to BigREIA.com, go there and…

You’ll Make the Universe SMILE.  =  )

~ Indy Anna

Indy buy and hold or flip rehab before pictures - BigReia.com

Want more (brilliantly) EPIC posts of real estate investing and bidness badasssery...?

There is a great post and class on the 38 Ways to Buy Apartment Buildings Zero Down with Pet Policies, and here are some other helpful and EPIC posts... for starters as a real estate investor if you ever want to build a business that makes you 30 grand a month then you MUST do this...

Wanna Create Generational Passive Income Buying Real Estate and Small Businesses?

Here's a class on exactly how to make $30,000 in passive income as an out of state Indy landlord.  Exactly how many Indiana rental properties do you need to make 30 grand a month.  Anna can you help me invest in Indianapolis turnkey real estate investment properties?

There's also a great class Azam did on how anybody can retire in the next 1-2 years with $30,000 a month in passive income by buying and selling businesses zero down.  What about Micro Flipping?  We have a great class on how to start micro-flipping real estate zero down from your house and make $500/day, speed wholesaling 101.

There’s also another great class on how to buy apartment buildings zero down that you can check out as well.  This relates directly to growing income on rental properties.  Speaking of which make sure to check out our epic page on 14 ways to avoid tenants from hell.  Also we have a great post on how to make build a "six figure a month" real estate wholesaling business.

Also here is a post on how I did this and I flipped a house off Zillow for 30.  Also you can check out the post on five steps to flip a house right off Zillow for 40 grand.  You can also check out our other epic post on 57 ways to make money with vacant land.

Here’s another post on how a Hero flipped a house off Zillow and made 40k in a few weeks while he was learning to read.  Also you want to check our post on the EPIC $25 million letter and the copy writing lessons for real estate investors, you'll love it.  Also you can see how ONE letter is making me $9,000 a month.  Also you can check out the post on 101 FREE places to advertise your houses.

Also check out the "SA" class and your REAL chances of create social mobility and income ascension with your real estate business.  Brilliant stuff.  Also there is a great post on the ONLY way you'll ever make 30 grand a month as a real estate investor and/or business builder.  Another brilliant class with a free downloadable Investor Guide is about 19 Ways to Make $10,000 a Month by Helping Tired Landlords.

Plus make sure you check out Azam's post on how to hire a realtor that makes you $10,000 a month... while you sit back with your shoes kicked up on your desk and fingers folded behind your head.  Also there is a great post on how to make five grand a week from putting out signs.

Also we have some great posts on 30 ways to buy real estate with no money down.  That is a two part series so make sure to watch the second part on the 30 ways to buy real estate zero down and with no loans or credit.  I also get questions about our "Epic Flipping" and how to turn $1 into over $25,000 by flipping ordinary items for exponentially high ROI.

And don’t forget our EPIC page on 100 FREE ways to find motivated sellers, we are making the number one page in the world on FREE ways of finding motivated sellers.  Also check out how I find motivated sellers from code violation properties, and also how I make over $1,500 a week giving investors access to that list.  Speaking of lists, for a list of the "Good People" and My Indy Anna Homeys you can go to our People Page at https://www.BigReia.com/people.

You can also get a LONG list of every contract, piece of paperwork and legal document that you'll EVER need for your real estate business all FREE to download: https://www.BigReia.com/Contracts.

Also perhaps the most important class Azam has done is on the "Frequency of Thought" and how to use the laws of quantum physics to rewire your brain, attract brilliance like a lightning rod and be the best version of yourself.  Check out this epic 3-hour class on Quantum Real Estate.

Also make sure to check out our “People Page” for a totally FREE list of every possible contact you’ll ever need to build a real estate business in Indiana or the Midwest:

https://www.BigReia.com/People

Stay here at BigReia.com and you’ll become allergic to being an LC and addicted to improving the world and creating Income Ascension and Social Mobility for you and yours… 

Thanks so much!  = )

Make the Universe Smile.

~ Indy Anna
Love (at) BigReia.com
(YES that's my actual Direct Line and I really do answer lol, so please text me first Thx!)

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100 FREE ways to find motivated sellers.