Looking for an Indianapolis realtor who is also an investor

5 Replies

Hi, Like the title says, I am looking for a realtor in the Indianapolis area, who understands the needs of an investor. I have done a fix n' flip, and have a short term vacation rental currently. Now, I am looking to implement the David Greene strategy with out-of-state-long-term-rentals. The type of properties that interest me most would be Class-B, between 2 and 4 units, that are in need of updating that will cash flow at least $150/door. I can go cash or traditional. 

Although David Greene says that I don't need to visit the place, this would be my first out of state deal. It would greatly reduce my apprehension if I saw the properties in person so I'm planning on traveling out there soon. If you are realtor I would love to hear from you. Maybe we can help each other out. Also, if anyone has a good recommendation, I would appreciate it. Can't wait to hear back.

@Ron Sohn I think it is very wise that you plan to visit Indy before making an investment there. I also think it likely you will find B-class 2-4 units hard to find at prices that make investor sense.  Most such buildings are in lower class areas or of lower quality construction.  There are exceptions, but they are grabbed up pretty quick or are at inflated prices. BTW are you looking to buy value add properties (fixer uppers) or more something ready to rent? Looking to buy with cash or conventional financing?

Hi Larry F. Thanks for the input. From what I gather, the inventory that would cash flow would be value add properties that are in need of cosmetic work. Turn key properties just don't pencil out as good fit investments for me. I have cash, but I also have great credit and credit availability at a low rate. To limit exposure, I was thinking of buying using my Line of Credit, and paying it off with cash: basically acting as my own bank. If you have any recommendations for realtors, managers, or contractors, I would love to hear from you. 

@Ron Sohn I would try and troll local Meetup groups online in indy. Good luck I have had an ok experience in indy but it really tightened up with the turnkey stuff getting so popular.

Originally posted by @Ron Sohn :

Hi Larry F. Thanks for the input. From what I gather, the inventory that would cash flow would be value add properties that are in need of cosmetic work. Turn key properties just don't pencil out as good fit investments for me. I have cash, but I also have great credit and credit availability at a low rate. To limit exposure, I was thinking of buying using my Line of Credit, and paying it off with cash: basically acting as my own bank. If you have any recommendations for realtors, managers, or contractors, I would love to hear from you. 

 Hi Ron,

I will PM you some info on a referral.  It may be along somewhat different lines than what you are thinking, as what they are doing is quite unique in the area.