DEAL SHEET · W43 · OCTOBER 23, 2026 |
Happy Friday Roots Fam,
Every Tuesday I write a smaller newsletter called Planting Roots, about building a business and growing as a person. If you want that one too, you can sign up here.
This week I wrote about a backup habit I picked up. When I miss the gym, I still do 15 air squats. It isn't about the squats. It's about not letting one missed day turn into a missed week.
Real estate works the same way. If a fourplex isn't happening for you this year, a duplex you live in might be. One of Kyle's listings below has a tenant on one side already paying $700 a month. Just food for thought!
Now into the deals:
Every deal on the board this week is a Roots listing: a leased duplex that pays you every month, a duplex built for a house hack, and a vacant house near Bates-Hendricks for someone ready to find their own tenant. Plus a five-bedroom I couldn't underwrite yet, and the full breakdown of the first apartment building Tyler and I bought.
Every card runs the same numbers: 25% down, a 30-year DSCR loan at 7.125%, 4% vacancy, 5% maintenance, 5% CapEx, 10% management, 0.6% insurance, and taxes at Indiana's 2% non-homestead rate.
Duplex · Built 1900 · 0.11 acre · Indianapolis, IN 46201
ASKING $190,000 · it pays you $243/mo
Kyle Hoffman on our team listed this one. Both sides are rented: $1,025 for 817 and $1,100 for 819, so $2,125 a month. That's 1.12% of the price.
Both leases have gone month-to-month, so you decide what happens next. Sign new leases with these tenants, or turn a side over when it suits you.
If it looks familiar, we ran it as an off-market deal in September. It's on the MLS now.
Rents are owner-reported through the listing. We have not read the leases. The MLS lists taxes at $2,691 a year. If that's a half-year figure, the real bill is higher than our 2 percent model and the monthly number drops by about $130. Cash needed: $52,500.
Duplex · Built 1926 · 0.08 acre · Indianapolis, IN 46203
ASKING $139,900 · the tenant covers about 69% of your payment
Kyle listed this one too. One side is leased at $700 a month. The other side, 1847, is empty.
This is the one I had in mind up top. Move into the empty side and the $700 next door covers about 69% of the mortgage, taxes and insurance. Or lease the empty side and run it as a regular duplex.
Before you write an offer, ask when the $700 lease ends and what the empty side needs before someone lives in it.
The $700 is owner-reported through the listing. We have not read the lease. There's no monthly carry on this one because half the building has no rent yet. The payment math uses our standard numbers: about $1,010 a month for the mortgage, taxes and insurance.
PARTNER · HAUS CONSTRUCTION Haus Construction handles everything from routine maintenance and inspection responses to general contracting, roofing, exterior work, and full renovations. Making it easy for homeowners, investors, and property managers to have one trusted team for the job.
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2 bed / 1.5 bath · 928 sq ft · Built 1910 · Indianapolis, IN 46225
ASKING $129,900 · vacant, last rented at $1,275
Another of Kyle's, near Old Southside and Bates-Hendricks. The listing says it rented for $1,275 a month before it was emptied out for showings.
At $1,275 it about breaks even on our numbers, so this one is for someone who wants a close-in rental to hold, not a monthly check on day one. You're a few minutes from downtown, Fountain Square and Garfield Park.
$1,275 is the listing's past rent, not a current lease. The house is vacant. That's why there's no monthly carry on this one.
Worth a Look
1635 Cruft Street, southeast side. $199,900. Five bedrooms and three full baths in 2,468 square feet, built in 1910 and listed by Tyler. The listing pitches it for renting by the room, and with five bedrooms that's the obvious play. But there's no rent on it yet, by the room or otherwise, so I can't underwrite it. If you've rented rooms on the southeast side, reply and tell me what a room goes for. |
Tyler and I just closed on our first commercial deal: Washington Manor, a nine-unit apartment building in Meridian-Kessler. It went under contract at $925,000 and closed at $875,000.
In this episode we walk through every number and how we put the financing together with outside capital. We're also honest about what could go wrong. It took two months of conversations before we even had a purchase agreement, and a big repair on a nine-unit hurts a lot more than one on a house.
PARTNER · RESOLUTE LENDING Seth Wilcock is the founder of Resolute Lending, operating under Independent Mortgage Brokers (IMB). He holds multiple mortgage certifications. We absolutely love sending clients to Seth, he always takes care of them.
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On the Calendar
Coffee and Connect, Wednesday November 18. Featuring Courtney Miller - A previously high producing agent who is now our Head of Growth at @Properties IND. Details here.
Real Estate Masterclass, December 3. Featuring the one and only: NATE SPANGLE Details here.
PARTNER · LONGHORN INVESTMENTS At Longhorn Investments, we provide financing for fix-and-flip, fix-and-rent, and new construction investment properties through a lending process that’s transparent, responsive, and built around real estate investors. Our 100% LTC financing provides qualified borrowers with access to up to 100% of their purchase and rehab costs, giving investors a powerful financing advantage while preserving more of their capital for future opportunities. Every borrower and every loan is treated like our first, and we work hard to earn your trust by delivering a reliable, professional lending experience from start to finish.
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That's the week. Grateful for you all.
If you want us to run the numbers on a property before you buy it, reply to this email!
Plant roots, build wealth.
Max
P.S. Bought something in Indy in the last twelve months? Reply WIN with the address and what it collects. We want to print one a week, showing off investment wins in our market!
This model is a comparison tool, not a property budget. It excludes utilities, turnover, legal use, furnishing replacement, debt-service lender fees, and property-specific capital work. It also does not assume appreciation. Read the lease, verify the operating statements, inspect the property, and confirm financing before making a decision.
