I love what I am seeing in Indianapolis so I wanted to reach out and see if anyone had any suggestions about who to work from an out of state investor perspective. Ideally, I am looking to purchase multifamily units (duplex, triplex, or 4plex) so any suggestions or connections (realtors, PM) would be much appreciated. I am also interested in learning more about your experiences in this market (good or bad)!
Messaged you - I have some family in Indy.
@Jameel Jason I advise extreme caution when buying 2-4 unit props in Indy. Much of what is out there is in very challenging neighborhoods. For an OOS investor these are very high risk.
@Larry F. great advice. Would you mind expanding a bit on why it's so challenging for an OOS investor?
@Jameel Jason - I just built a great team last year after going to Indy & interviewing a bunch of folks. Happy to share if you want to message me.
Originally posted by @Nic Stergion :
@Larry Fried great advice. Would you mind expanding a bit on why it's so challenging for an OOS investor?
Nic, these properties may look good on paper but they have to be very tightly managed, and are likely to have high turnover, a lot of tenant issues - from rent collection to destruction of property to a lot of maintenance issues. It is really a business, and no one is going to watch out for your interest like you would if you were there. In the better and more staple areas, SFR are much more likely to be the desired rentals by the tenants you want to attract. Higher rents too.
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