Construction PM Building Indianapolis Fourplex Portfolio - Seeking Professional Team

[Alexander Stevens]

I'm Alex, a construction professional with 30+ years of project management experience (projects ranging from small residential to $4M+ commercial) transitioning into real estate investing. Based in San Diego, building a focused fourplex portfolio in Indianapolis.

Investment Criteria:

• Target: 6-7 fourplexes by 2030
• Capital: $120K initial + $3K monthly contributions
• Strategy: BRRRR with professional teams (not doing work myself)
• Target neighborhoods: Near Eastside, Martindale-Brightwood, Twin Aire
• Purchase range: $180K-$220K with $50K-$65K renovation budgets

  Why Indianapolis: After analyzing 15+ markets, Indianapolis offers the optimal combination of:

  • Strong fundamentals (job growth, median income $71K)
  • Abundant fourplex inventory at reasonable entry points
  • Landlord-friendly regulations
  • Sustainable cash flow with appreciation potential

    Seeking Professional Relationships:

    1. Property Managers (2-4 unit specialists)

    • Track record with fourplex managemen
    • Strong tenant screening and retention
    • Transparent reporting and communication
    • Fee structure: 8-10% management

    2. General Contractors (multifamily renovation specialists)

    • Experience with $50K-$65K fourplex renovations
    • Fixed-price contracts with clear scope
    • References from out-of-state investors
    • Comfortable with detailed project management oversight

      3. Real Estate Agents/Wholesalers (fourplex deal flow)

      • Consistent inventory in target neighborhoods
      • Honest assessment of properties and comps
      • Understanding of investor criteria
      • Professional communication and follow-through

      4. DSCR Lenders (refinance specialists)

      • Competitive rates for 2-4 unit properties
      • 80-85% LTV options
      • Clear seasoning requirements
      • Experience with out-of-state investors
      • What I Bring:
        • Serious buyer with proof of funds ready
        • Quick decision-making (24-48 hours on qualified deals)
        • Professional approach to all relationships
        • Fair compensation for quality service
        • Long-term commitment to Indianapolis market
        • • Market Questions:
            1. What are current realistic cap rates for renovated B/C class fourplexes?
            2. Which neighborhoods offer the best balance of cash flow and stability?
            3. What renovation costs per unit are you seeing in today's market?
            4. Any specific Indianapolis code/permit issues to be aware of?

            Looking to connect with established professionals who work with out-of-state investors.

            First acquisition targeted for Q1 2026. Appreciate any insights from the Indianapolis investing community.

            —Alex

[Michael Smythe]

@Alexander Stevens

We’re a Property Management Company (PMC) in Metro Detroit ONLY, with 25+ years of experience, and we’ve seen owners make the same mistakes, over & over again when looking to hire a PMC – which drives us nuts!.

In our experience, the #1 mistake owners make is ASSUMING all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY.

So, owners mistakenly think price is the only differentiator – and look for a PMC like they’d shop for groceries☹

We encourage you to learn from the mistakes of others by reading posts here on BiggerPockets from owners that picked a PMC solely by price and regretted it.

We recommend exploring as many sources as possible to get referrals AND cross-reference them to get as much accurate information as possible.

Check out NARPM.com, BP’s Property Manager Finder (BiggerPockets: The Real Estate Investing Social Network), etc.

Even if someone gives you a referral, do NOT make the mistake of assuming that just because a PMC met their expectations, they’ll meet your expectations. We all have our own expectations and what works for someone else, may not work for you.

If you’re new to all of this, it's often a case of not doing enough research, as you don't know what you don't know!

So, ask more questions!

EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean? What documents do they require, what credit scores do they allow, how do they verify previous rental history, etc.? You’d be shocked by how little actual screening many PMC’s do!

This also leads owners to ASSUME simpler is better when it comes to management contracts.

The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it!

A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings. Why do you think purchase contracts are so long and have such small print?

We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

P.S. If you just hire the cheapest or first PMC you speak with and it turns into a bad experience, please don’t assume ALL PMC’s are bad and start trashing PMC’s in general. Take ownership of your mistake and learn to do the proper due diligence recommended above😊

Here’s some articles we’ve contributed to BiggerPockets about screening a PMC BETTER than you would a tenant!

20 Questions to Ask When Vetting a Property Management Company: Processes

13 Questions to Ask to a PMC: Communication and Documentation

24 Questions to Ask When Evaluating a Property Management Contract