Brand new $40,000 real estate flip in Indianapolis, how to flip a house in Indy from out of state?

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

Here’s a BRAND NEW real life $38,000+ Indianapolis real estate flip, remote investing in Indy from out of state step-by-step walkthrough.

Here’s another Deal Dissection Episode on a BRAND new deal named “Fred Hurst”, this is the first episode on this deal and you can see where we are starting.  You’ll see what it took to close and all the numbers, loans, payments, etc.  Then as we move forward you’ll see all the updates and progress. 

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.

We are on a mission:

My mission is to make lifelong friends helping folks around the world create generational wealth with a passive income of $30,000 a month with Indiana real estate (without leaving your house) while 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 this brand new Indy 30k+ real estate flip…

BRAND NEW real life $38,000+ Indianapolis real estate flip, remote investing in Indy from out of state step-by-step walkthrough.

Deal Dissection Series: Fredhurst Episode One.

Indy Anna Explains:

– Here’s a real-life example of an Indy Flip deal, here are the numbers. pictures and upcoming updates so that you can follow along the entire process from A-Z
– How you can use Flips like this to generate income 
– This is a real-life example of an Indy Flip where you recycle the same money to do multiple deals. I’ll dissect one deal for today because they all work just like this: Self Similarity.

Quick reminder about the Deal Dissection Series:

The Deal Dissection Series is all about taking an actual, real life Indianapolis real estate deal that we are helping and doing for one of our Heroes, an out of state real estate investor.  It helps you see EVERYthing from A-Z, step by step from start to finish – you get a full behind the scenes look at everything the good, bad and ugly warts and all and you can see how REAL deals actually happen in the real world.

We name them F and B – for Flips or Buy and Holds:

– We name each deal and then provide updates on every week’s progress so if you are just joining us, you can go back or forward and see how things started and turned out

– These are NOT summaries of deals we did; these are all real time deals that we are doing right now so you’ll get to see everything happen in real time from closing to closing

– We will always go over the exact numbers, costs, delays, etc. and the profits and I’ll go over detailed cash flow statements when applicable

– We have other duplex Bs and Fs as well, each deal illustrates something specific that you can learn from

– This is an update and remember the numbers, $87.5K purchase, just under $6K cash to close, $35K in rehab and an ARV of $185K

Each deal we go over has a specific teaching purpose here’s a cheat sheet on some of our deals, I won’t go over each one for a full list you can go to BigReia.com:

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

So we have a number of deals like this that we are working on, but instead of going through all of them I’m going go through just one example so you can see it from start to finish:

– This property is a SFR (we’ve talked about why we’re doing Flips to build capital  in this price/area in other classes) and it was bought for $87.5k and will take about 35k of rehab work
– So, we have an all-in cost of about $122.5k we have an ARV of $185K for the re list. 
– The money down was just under $6k and in this case hard money was used so are going to rehab and re list quickly

I’ll include some pictures so you can see the entire process of before and after:
– If you guys want, I can include other snapshots of financials and closing docs so you can see exactly what the money payments and other costs are as well
– We are going to start the rehab immediately, so these pictures are the before pictures and then I’ll make updated videos over the next 30 days as we move towards re list ad sale then onto the next with the profits 
– These deals take us through all of these phases we’ve made a video on recently and it’s our AMAZING team here in Indy that keeps us ahead of schedule

A few quick reminders:
Remember we name each deal with a name that starts with a “B” if it is a Buy/Hold and with an “F” if it is a Flip, this is Fredhurst, so a Flip

So, onto the pics…

Okay, so this an example of ONE kind of deal that we help our people do, these are long term deals that allow you to build your passive income portfolio:

– We have several other deals identical to this one and maybe later I’ll include those details as well, but they are nearly identical
– We also have other  standard SFR deals like this too. I also got so many question from my last videos about how this  works  with duplexes and getting 1% for 200k so check out that update class as well, the goal here for each of our investors and Heroes to do several of these and build your portfolio
– So, stay tuned and you’ll see everything, all the work, the updates, the costs, the payments, the profits,  the profit  out-  how to get ALL of your money back and do the next deal, etc.

So, like I said- we are in the rehab process  here on this one and we’ll have other updates coming along – stay for these.
– We’ve done the purchase and broken down the SOW into draws already- keeping in mind that our weather here in Indy is about to change. It won’t stop us or slow us down; it just means we hit anything on the exterior ASAP when the weather is suitable. 
– We haven’t got the keys just yet, but this was owner occupied, and we gave the owner – per our PA contract- a few days to move out. The owner is elderly and moving her entire life in one trip to another state. We are in the business of making everyone WIN, not just our clients, so our team will be ready the day she’s out, about a week past closing.

What we did not anticipate, but adjusted quickly for, was a call that came in 48 hours prior to closing from the owner herself. It turns out her social security check was late this month, and she was in an unfortunate position. 

She had reserved a self move truck for the day of close, to begin loading it up and packing, and even called in family members to help. The issue was that she had no funds ready to pay for the moving truck as her social security check was late and we hadn’t yet closed.

Well, issue No. 1 here is that the listing agent’s client contacted me, and I was sure he was aware.

Listen, we do everything by the book, and I had her reach out to him, as well as myself reaching out to him to let him know I had spoken to his client. That was no issue.

So, how to solve problem No.2, the funds for the moving truck? Look, everybody in these deals has to WIN, that’s all there is to it if it’s at all possible, and it’s usually always possible. This was not only going to set us back in having her move out- waiting until the closing funds cleared, but it was REALLY stressful for her.

Now, you’ve probably all heard of ‘transaction funding’ before as it applies to double closings, right?

In this case, I provided transactional funding of a different kind- I paid for the moving truck pre closing and had a notarized promissory note made up from our  legal team here in Indy, to be reimbursed once the funds at closing cleared- @ 0% interest to be VERY clear =  )

Bottom line:

We are always going to try to make a deal close and make sure EVERYONE involved is happy – not just on our side of the transaction.

Upcoming, we are going to have the exterior power washed and  painted, repair the windows and replace the exterior doors- oh and two heavy duty garage door openers installed -just in time for the winter season and parking in the amazing detached two car garage. 

Now, in this case we are going to do something VERY special and make this a ‘private’ oasis within the city- wait until you see our custom fence that will run all the way around the property.

With this property location, the quiet neighbors, and the view- this is going to end up being a one-of-a-kind Indy Oasis- just minutes from all of the action- super exciting stuff!

Okay just as a reminder here are the numbers on this deal:
Fredhurst is a 30-50K Flip:
Purchase Price: $87.5K
Money Down:>$6K
HML loan and payment:$1250.00/mo
Rehab Work:$35K
ARV: $185K
Projected NET Profit after call closing/holding/etc. costs: $50K

So in summary, we’ve covered:

– The before pictures and numbers on this property 
– The upcoming work left to be done and the timelines
– The numbers in the deal, the costs and the expected profits

So right now, here’s what we are working for next time, stay tuned and you’ll see:
– The fully empty and ready to demo house
– The exterior clean up and paint 
– Also, how we managed to repair and refurbished all the windows to keep our budget in mind, yet retain quality

So, you’ll see the entire process and as always if you have any questions or if you want to see if you’re a good fit to do deals like this and create passive income over the next 3-5 years, then you should have at least 100k and good healthy income to start with. 

If you want to talk more about that and see if you’re a good fit just text me at:

317-969-5619  (Please text me first – Thanks!)

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- make sure you go to BigReia.com and get the most complete training in the world on creating passive income of $10,000 – $30,000 a month, go there and you’ll:

Make the Universe SMILE.  =  )

Thanks so much!  : )

~ Indy Anna

Indy 38k flip before pictures

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!)

Free Comic Book Reveals:

100 FREE ways to find motivated sellers.