Can you flip a house for $50,000 right off the MLS? Indy real estate deals real life example.

by | Indy Anna, Real Estate Investing

Can you flip a house for $50,000 right off the MLS? Indy real estate deals real life example.

In this video you can look over my shoulder and watch as I find a real life deal. This is an example of a flip that you can make 50k on and I found right off the MLS.  These deals are everywhere if you know where to look.

Before we get into it I want to 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.

This is a quick video I made about  a Hero’s experiment…

Can you flip a house for $50,000 right off the MLS? Indy real estate deals real life example.

 

 Indy Anna here to answer and cover:

– Can you really find a 50k flip right off the MLS?

– Watch me find a real life example of a deal and run through the numbers.

– This is an example of an Indy real estate deal and the MOST important factor in deals like this.

This property is in Indy, the Fountain Square area.

This would be considered one of our “Gold Flips” meaning you would make 50-100k or so.

The property break down in the video above is for a property on Parkway Ave, Indianapolis IN, 46225.  

This property is straight from the MLS and is right in the Bates – Hendricks area.  Now this may seem a little bit of a high price given the rehab, but when I break down a few things for you it will make sense.

The Bates – Hendricks area is just outside of Fountain Square.

This is outside of the commercial district.  This area has followed suit to Fountain Square just the same and has seen some recent gentrification happening.

I want to be clear about this deal, and others like it in these two areas – they are high end flips.  On the slide in the video I’m going to put up a map of the area for you to see the streets that confine the Bates-Hendricks district.

Note its proximity to Fountain Square.

Both of the areas are on the National Historical Register of Places (1983).  This area is right around Shelby and E. Morris Street in Indianapolis.

Also worth taking note of on the map is the proximity to Eli Lilly.  This is but one of the places of employment for your end use purchasers.

I’ve covered in other classes how Indy is quickly becoming a tech hub of the Midwest, and our established medical development facilities add to our steady economic growth. 

What did I mean when I said “high end flips”?

The term “high end flips” refers to the usual case where the end users are expecting what gentrification brings.  They are – by definition – moving a class “C” or “D” area into a class “B” or “A” area.

For those of you OOS investors, the schools here are not historically ranking among our highest in the state.  That is why most end users are going to be putting their kids in private schools for now.

Why is private school GOOD news for you?

So why go to an area where you’re most likely going to be forking out the cash for a private school?  When you can get more house for less money, part of that reason that you are buying at a discounted price is because it is NOT in a top-ranking school district… yet.

So when gentrification hits the schools often take a while to catch up to the changes.

That is a marker and the atmosphere of areas like this.

Bates Hendricks offers cultural diversity, quick commutes to Indy downtown and the quality of flips in these areas are really are top notch.

What does a top-notch flip retail for in this area?

For this specific property the comps in the area are between $280K- $329K.

For an example of what I’m saying by “high end flip” I want you to check out 353 Parkway Ave which is right down the street.  At the time of the video it was listed at $525K and it sold fast.  They ended up with a total rebuild after a teardown. 

Look at that house and it’ll give you an idea of the quality of housing and building in this area.

If you bought this one as is at $99K and were all in for $168K (we try to keep you right at 60%) that’s going to leave you plenty of rehab funds after closing to make it to the lower end of comps in the area at $280K.

That leaves money for closing, holding, rehab, etc.

You’d even have enough to add another bath or half bath as well.  We all know in these older homes, one bath was standard and now most folks want at least two, so when selling you need consider that.

So, to recap and summarize…

There are some really good deals here in Indy, and I broke one down for you straight from the MLS.

I also covered some commonly asked things for OOS investors.

You want to know about the area, the schools, the businesses, why would someone buy here, etc.

Remember, the MOST important thing of all…

Like I said, this is a deal straight off of the MLS.  These deals are happening right now in Indy and if you want to do deal like these get in touch with me because as I covered in our other videos…

It is your boots on the ground here in Indy that really is the most important thing for any investor.  You NEED to have good people you can trust on the ground.  If you’re a good fit, I can help be that for you.

Give me a call/text/email if you have any questions about how to set any of this up:

~ Indy Anna
Love (at) BigReia.com
317-969-5619  (yes that’s my Direct Line, so if I’m in I actually answer lol)

… and as always… 

Make the universe SMILE = )

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. 

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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:

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