Here’s a real life $20,000 Indy real estate flip, Indianapolis turnkey real estate investing example.

This is the deal “Fred” as I’ve been updating you guys throughout every step of the process.  This is an example of an Indianapolis turnkey investing example of a short term flip (not a long term Buy and Hold) from start to finish.  This is a walk through of the five steps we go through with every turnkey investor, we’ll have weekly updates so you can see the whole thing start to finish.

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Now for today’s class on a 20 grand Indy flip example…

House flipping in Indianapolis?  How does flipping houses work in the Indy real estate market?  Can you REALLY flip a house for profit in Indianapolis?

According to CNBC:

https://www.cnbc.com/2020/12/17/home-flipping-profits-are-the-highest-in-20-years.html

House flipping is the most profitable it’s been in 20 years- it’s simply a matter of finding the right properties to do it with. In a nutshell, the housing market is seeing a boom in appreciation across the board, so houses are simply costing more to purchase.

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 flip them for a profit.

Today I’m going to walk you through a flip we have going on here in Indy and give you some of our pre-flip updates.

Indy Anna explains:

– The before pictures of this property
– The work being done to get it ready to flip it
– The numbers in the deal as we are working on this

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

– Purchase price
– Rehab and repair costs
– Holding costs and a back up plan

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 we are putting into it) of the ARV, so this in part will be the purchase price.

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
– Three points
– Administration fee
– 13% interest on borrowed funds

All in all we are looking at closing costs of $20K, including down payment and $1500/mo in HML debt service- including insurance and we’ve made another class on insurance for flips as well so be sure to check that out after this one for more info.

So here are this properties numbers:
– $115K purchase price
– $30K rehab price
– $215K re-list

We are no more than 45 days into a property before the re-list for all rehab work. 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 isn’t for our flips, but buy & hold investors as well. You can follow along on one of our duplex deals in another class and as other updates come along here as well.

Now to the fun part beyond the numbers… the actual house.

Now remember I mentioned a ‘back up plan’ to you earlier on. We are long overdue for an adjustment to the market, and while the Feds just released that we are to stay at this current low interest rate for a while to come- maybe we don’t plan on this as entirely 100% accurate or predictable.

In most cases, while a 3/1 is more ideal than a 2/1 or even 1/1 for flipping, if we are thinking worst case scenario and back up plan, we are going to have in mind rent comps in case we have a situation where we are going from on the market to holding it as a rental. In this case, we would be looking at $1450/mo in rent if we were to hold it and refinance.

Now to be clear, this hasn’t ever happened with anyone we’ve ever worked with, but it is an extra layer of somewhat protection we can add in.

Another thing we try to do in layers of protection is work with duplex deals that are half occupied. This allows us to get in on one side for rehab, complete it, move the tenets in place over to the other side and rehab the now vacant side- all the while collecting rent to help cover the HML debt service payment. It’s not always possible, but it is something we try to do when we can.

Okay, so let’s get into the rehab work here:

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

So, to recap we’ve covered:

The before of this property
The work being done to flip it
The numbers in the deal

Below are the BEFORE pictures of Fred:

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 u pa time to chat and see if we’re a good fit to work together, but for now study the material at https://www.BigReia.com and you’ll…

Make the Universe Smile.  = )

Indy turnkey investing flip before pictures of kitchen
Indy turnkey investing flip before pictures of exterior
Indy turnkey investing flip before pictures of living room

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...

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.

Go to BigReia.com and you’ll become allergic to being an LC and addicted to improving the world and creating Social Mobility for you and yours… 

Thanks so much!  = )

Make the Universe Smile.

~ Indy Anna
Love (at) BigReia.com
317-969-5619 (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.