The Market in Mid-Winter, Tales of Client Deals Done, Off-Market Deals, and more!

In Naptown Indy this week temps are rising, the sun is out, and false Spring #1 has arrived!

As well, the market is heating up… I have gotten a lot more clients pre-approved in recent week. Not many under contract though. Offers are slowly starting to be sent, while listings are still struggling to move.

I was able to help my seller by bringing a buyer on this sweet Speedway Duplex over the holidays at least! We worked out a very creative deal where we raised the price (as it appraised higher) and worked in some seller credits for inspection repairs. Most other agents probably would have allowed for a Mutual Release here, but my clients and I were able to think outside the box.

This is your reminder that most agents aren’t worth a single grain of salt! About 1/10 agents provide value out of the 10,000+ in Indianapolis, and the #’s in the industry are dropping like flies in this rate / market environment! It’s worth every penny to invest in a relationship with the best as it will save you time, money, and experience! You’ll always gain doing work with the real pros! Find one!

Where we are going today…

1. Recent Client Success Story ⚡

2. This Week’s Deals 🔥

3. Best Content I’ve Consumed This Week 🎙️

4. Upcoming Events 🗓️

Client Success Story… House Hacking Industrial Building?!

• In mid 2024, I had a client named Howard that approached me looking to break into real estate and buy his first home…

• After searching for days and weeks in the Broad Ripple area and not much panning out, a close mentor & friend named Addison shared this deal with him… A Single family home with a huge light industrial warehouse attached in the back!

• He bought this property for only $156,000(!!) It’s near Keystone & 38th, bit of a rougher area but hey sub $175K for this amount of Square footage is not bad!

• He has leased the warehouse to a General Contractor recently, which will easily cover his entire mortgage!

• Sometimes you go the traditional route and buy a starter home (which we love), and sometimes you buy a light industrial warehouse because you have a competitive advantage… That’s just what I love about real estate! Personalize!

• This is exactly the type of client we love to help at Roots — breaking into real estate and making moves for financial freedom — thanks Howard for the trust & partnership with our team 🤝

• Check out this recent text from him:

  

On to the deals & goodies…

This Week’s Deals

Off-Market Value-Add Deal 🔥

• 6420 Greenspire Pl, Indianapolis, IN, 46221

• Single-Family Home, Vacant

• 4 bed, 4 bath, 3300 sqft.

• Asking $249,900

• ARV $315,000

• Pictures 

House Hack Deal (Off Market) 🔥

• 1521 S Randolph St. // Ft. Square area

• Single family home with separate basement unit

• Vacant

• Asking $270,000 w/ furniture

• To be put on market if off market buyer is not found!

• Furnished Finder basement listing ($1475 last rented)

Turnkey Easy Rental Play in Line of Development 🔥

• 509 Saint Paul St. // east Fountain Square area

• Asking $192,000

• Brand new renovation

• Long term rent rate $1600-1800

• Furnished rent rate $2100-2300

• Great first time rental in fast developing area

Don’t see what you like? Not surprised this is just a sampling to get you educated on what’s out there! Get on Zenlist, our exclusive property search platform!

As always, if you have interest in these deals email me ([email protected]) or text / call 317.443.5258.

The Best Content I’ve Consumed This Week 🎙️

Faith Driven Investor Podcast — Ep 119: A New Class of Community with John & Ashley Marsh. I loved this podcast because these investors are literally transforming entire small towns & communities (specifically Opelika, Alabama) through a bold vision casting framework & redemptive investing mindset.

The Roots Podcast — Ep 3: Rex Fishers’s Rental Property Empire, How He Scaled to 350+ Units. I loved interviewing Rex and hearing his 30,000 ft. view of investing in urban-fabric neighborhoods bringing in a three legged stool philosophy of Work, Play, Live. Some of the stories in here will just blow your mind. He started buying up Fountain Square real estate pre 2008 when NOBODY wanted to be caught dead there… Duplexes for $15-20K!

Upcoming Events 🗓️

• Thursday, February 27th — Real Estate Happy Hour @ Refinery46. Find details here!

• Thursday, March 6th — 5-8pm — Roots Real Estate Masterclass — Topic of Discussion is Property Management Mastery with a panel of 3 property management pros! Find details here!

• Thursday, March 27th — 5-6:30pm — First Time Homeownership Workshop Co-Hosted with Approved Mortgage. Find details here!

RSPV by pressing link & registering on Eventbrite!

Thanks for the read!

Roots Realty Co. is a brokerage team part of the @properties brokerage in Indianapolis. We specialize in helping homeowners & investors Plant Roots & Build Wealth. We offer unique insights into Indy / Investing but also one-of-a-kind networking and education events. Come meet us!

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