Indianapolis investors - would like to pick your brian

General Landlording & Rental Properties
8yFollow

Indianapolis investors - would like to pick your brian

Dorothy Pang
Arcadia, CA · Member since 2017 · 35 posts · 3 votes

Hello,

I am from California and looking to invest in cash flow properties, particularly in Indianapolis. 

Is there any real estate investors here in that area who can share some ideas and give me some advice?

Also, I am doing some research about this turnkey company called Alpine Capital Solution. Have anyone done business with them and how was your experience?

Thanks a bunch!

Regards,

Dorothy

0Reply
10 views

Most Popular Reply

Ernesto Hernandez
Realtor · San Francisco, CA · Member since 2017 · 408 posts · 361 votes
8y

Hey Dorothy, I'm in San Francisco and am pretty active in Indy. 

Flying back out next week. 

Let me know if I can help in any way. I've been in Indy since April and have learned a tremendous amount. 

GL!

2Reply
See this reply in the discussion

12 Replies

Jump to latestLatest
  • Josh C.Pro Member
    Property Manager · Indianapolis, IN · Member since 2010 · 1k+ posts · 1k+ votes
    8y
    @Dorothy Pang I haven’t seen their stuff in a while, but some of their homes uses to be in low Income neighborhoods. I would try to stay with nicer areas and higher rents. $800 and up. We are a property management that does not sell turnkey. So we’d give you a honest opinion since we have no dog in the fight. Let me know if I can help with your Indianapolis search.
    0Reply
  • Nathan GesnerBusiness Member
    Moderator
    Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
    8y

    Mid-west investment groups love to work with Californians! Most of those companies make money on every step of the transaction. They buy foreclosures for pennies on the dollar, renovate them with their own contractors, sell it to you at market rate, and then manage it for you. They mark up maintenance. They charge leasing fees even after the tenant they placed trashes the home and abandons it. It's an incestuous transaction.

    If you plan to go this route, I would recommend safer investments in Class A or B communities. I would buy the property from someone other than the person that will be managing it.

    I recommend you start by reading Long-Distance Real Estate Investing by @David Greene before jumping in.

    The DIY Landlord Book4.7248 Reviews
    WebsiteView Page
    1Reply
  • Dorothy Pang
    OP
    Arcadia, CA · Member since 2017 · 35 posts · 3 votes
    8y

    Thank you @Josh C. and @Nathan Gesner for the advice. I’ll keep that in mind and check out the book (@Nathan Gesner)

    0Reply
  • Ivan BarrattBusiness Member
    Investor · Indianapolis, IN · Member since 2015 · 764 posts · 953 votes
    8y

    @Dorothy Pang I strongly agree with @Nathan Gesner! For every 100 TK providers I'd say 99 are setting you up to fail. There are no shortcuts in real estate. Don't believe the TK hype! All the best!

    0Reply
  • Ernesto Hernandez
    Realtor · San Francisco, CA · Member since 2017 · 408 posts · 361 votes
    8y

    Hey Dorothy, I'm in San Francisco and am pretty active in Indy. 

    Flying back out next week. 

    Let me know if I can help in any way. I've been in Indy since April and have learned a tremendous amount. 

    GL!

    2Reply
  • Dorothy Pang
    OP
    Arcadia, CA · Member since 2017 · 35 posts · 3 votes
    8y

    @Ernesto Hernandez That's great to know! Thank you and will reach out if I come across any questions.

    0Reply
  • Kenny Dahill
    Investor · Tempe, AZ · Member since 2018 · 1k+ posts · 731 votes
    8y

    @Dorothy Pang Plane tickets are cheap.  Evictions and damages are not.

    Morale of the story: spend the few hundred dollars to go see Indy in person.  Spend a few days out there and talk to multiple of these TK providers!  You're willing to spend thousands, what's a few hundred more for due diligence and quality assurance.

    2Reply
  • Dorothy Pang
    OP
    Arcadia, CA · Member since 2017 · 35 posts · 3 votes
    8y

    Thanks @Kenny Dahill

    0Reply
  • Ernesto Hernandez
    Realtor · San Francisco, CA · Member since 2017 · 408 posts · 361 votes
    8y

    Great advice Kenny. 

    You can get a nice Airbnb room for $70 a night in Indy. Something simple and clean is like $40. Car rental about $30 a day if booked in advance. A flight on Southwest is like $350 if you don't wait last minute, sometimes lower. 

    Or sign up for the Southwest Card and get minimum 2 trips for free basically (let me refer you! My next flight was also free).

    That and an inspection. At minimum an inspection.

    Buying sight unseen is something I would strongly advise against given my own experience. 

    1Reply
  • Daniel Palma
    Rental Property Investor · Torrance, CA · Member since 2018 · 7 posts · 2 votes
    7y

    Hi Dorothy, 

    I’ve started investing in Indianapolis few months ago, I also live in California.  I close on my first SF property this Friday and have a second SF in escrow and closes in few weeks. I have learned a tremendous amount of info here in forums. PM me, I just got my PM in line and working with few contractors for bids for minor work to be done. I also plan on visiting at the end of this month. 

    2Reply
  • Mickey Russo
    Real Estate Broker · Naples, FL · Member since 2015 · 57 posts · 12 votes
    7y

    @Daniel Palma, Hi, great job on your closing your first deal! If you need a contact in the Indy metro area feel free to connect with me. I'm actively seeking partners/private lenders to provide cash to the deals I provide. Let's connect. :)

    Thanks!

    0Reply
  • Jeff Schechter
    Developer · Nashville, TN · Member since 2016 · 484 posts · 406 votes
    7y

    As a TK provider, I would encourage the same thing...  COME VISIT.   We are very transparent in our processes, but even so... it's amazing to me how few investors actually hop on a plane.  

    2Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free