Starting out in Indianapolis, IN

2 Replies

OK Guys and Gals... After doing some deals in Virginia, and having nifty little portfolio of rentals, I have decided to venture into OOS investing. 

I had initially tried to venture into OOS investing last year by using the TurnKey Model, but quickly realized that the model is not for me. I not only like to be more active in the investing, but also I figured that I probably know a thing or two (although not much) more than someone has never bought an investment property.  Nothing wrong with the model, but I'd prefer not to give away most of the equity to the TK company. 

That being said I have pretty much narrowed down on the Indy market. It seems that there are still quite a bit of deals to be had out there.  From reading about the Indy market, it seems like the market changes from neighborhood to neighborhood, so being very cautious here. 

I am looking/already have for the following:

  • Realtor - Someone who is willing to work with out of state investors, and kind of guide me through the process of selecting good investment.  Someone who has lived in the Indy area for good amount of time and knows the area well. Realtor should be willing to show me around Indy, if I decide to come visit the area.  Thinking of next February/March 2019 when the weather is much nicer :) 
  • Property Manager: Need a good PM who would help with doing all the PM duties. I have noticed in Virginia, and it has been my experience that bigger PM company the better.  Currently, I am working with a PM company in Richmond/Tidewater area that manages over 2500 properties, and very happy with their performance and overall efficiency in doing things. I have tried working with one man army when it comes to PM, and it was a nightmare. 
  • Deals:  I have seen abundant deals in the Indy area on BP Marketplace, but more the better

I already have a lender in place. Same guy who lends me in VA will lend me in IN.

Feel free to send me PM or post here (if permitted)

@Chinmay J. I work with a team in Indy that provides all of the elements you requested. They focus on deals in the gentrifying areas of town, and target higher end tenant base they have built through professional networks. Primarily focused on BRRRR, with good value add. PM if you'd like to chat.