Updated over 1 year ago on . Most recent reply
Property Manager in Indianapolis
I was looking to add to my portfolio with an out of state property and I settled on Indianapolis as my target market. If anyone knows of a well reviewed and experienced property manager/real estate agent that they can recommend to be interviewed, that would be much appreciated! My target property is a small multi-family property (2-4 units) with some value add available.
Cheers!
Most Popular Reply
Welcome to the Indy market @Aaron Brown!
Ensure that you perform your due diligence on all of your vendors. I do not want to beat a dead horse here, but there is not a "one size fits all" when it comes to property management companies. As you will find Indianapolis has some great areas that can quickly turn into rougher area in a matter of a few blocks. You must ensure that you have a solid team in place to assist you in navigating the city.
There are a number of solid vendors here in the market. That being said, for someone who specializes in section 8 such as @Harvey Levin may not do as well with A class properties. For someone like @Ross Denman who assists folks with BRRRR opportunities does not specialize in section 8. The point is... narrow down your criteria, shop the vendors, and find specialists!
Investing in this market is not a cake walk, so ensure that you talk to a number of folks and begin to formulate your plan of action moving forward. Far too often I will get calls, emails, & private messages from investors complaining about their PM company. My first question that I ask is how many companies did you vet. Typically, I get a response along the lines of... "well they had good google reviews, or they had so many good things to say." Don't be this guy/gal who finds themself in a hole 4 months post close due to a lack of effort in finding the right team. Hope this helps! Feel free to PM me if you have more questions.
Cheers,