Indianapolis Turnkey Providers

35 Replies

I am a out of state investor from CA and  after doing quite a good research, I narrow down some areas and strategy to invest.  

I like connect with good, reliable Turnkey providers in Indianapolis area. Please PM me or reply back to this thread. I will be visiting Indy first week of September  and will love to meet some investors and Turnkey providers. 

Thanks BP to provide such a wonderful platform to connect like minded people. 

@Bob Bowling

Looking for Buy and Hold Strategy but love to invest in Oakland for appreciation. 

One minor issue :) is the price difference $615,000 Median Price in Oakland and $130,000 in Indianapolis.

Will welcome any suggestion!!!

Hey!

Let's connect.PM me my guy in Indianapolis has two properties right now he is wanting to sale both bring in over 8% cap rate and good buy and hold. Both are already occupied and smoothly running. One being in a Great area. I am from Indianapolis and now live in the California area now, I think it'd be great if we connect!

Hope to speak with you soon,
Terone Johnson

Interesting: 

I am in the same boat, CA resident (with a few properties acquired during the 2011-13 time frame), now looking in the mid-west as well. I have a contact in OH (the suburban area between Dayton/Cincinnati) who has picked up a couple of properties for me (one in June). Not officially turnkey, but very close in end result, acquisition costs were about 12% below market (so a little better than most turnkey deals , 8% rental with immediate occupancy (less than a week) and no repairs of any kind required.

Although the appreciation in the WSJ report cited above indicates 6 to 10% for this region of OH over the past year, I'm thinking going forward it will be closer to 3 to 5% since things appear to be cooling some, but that still works for me.

I also agree that Oakland or anywhere in CA now is more about speculation at this point than anything else. My CA properties have absolutely soared, and rental rates are really quite good, but I can't see acquiring anymore here. I guess I am just too much of a buy and hold type, I've got to cash flow justify my acquisitions first.

If you find good luck with any turnkey contacts, let me know, I might take a dive into those water as well. Good Luck.

  

@Bob Bowling

That's not YOY, it's from the 2nd quarter of 2015. You really need to stop comparing the 2 markets. It's comparing apples to oranges. Yes, California is a better appreciating market. It always has been and it better be for Pete sake! It's the 6th largest economy in the world. The problem with California is, is that it is to expensive to buy and probably rent, I'm talking on a homeowner/renter perspective not an investor, when it gets like that people and business's start to leave and look for more affordable places, such as Indy or the Midwest. 

Here is my comparison: 

California is like Google stock, a great stock to invest in, you are going to make money but you have to deal with the dramatic ups and downs. Which means you have to deal with it when the market changes and you know very well Bob most people/investors get scared and run or sell during bad times. (The sky is falling mentality) For those who hang on, like you Bob, will reap the benefits of holding on. 

Whereas Indy is like a blue chip stock, such as Coke Cola or Pepsico, it will pay you dividends but will not have all the ups and downs. Why, because in good or bad times people will always buy Coke or Pepsi. (People eventually will move to places that are more affordable for them)

One more thing, since you are a certified appraiser, I believe you said you were in another post. If I'm wrong then I apologize, then you should know that Real Estate is local, not national, regional, or by state. So what happens in Califomia will be different then Indy. Neither place is a bad place to invest. It's how investors buy in these areas that will make or break them. 

Originally posted by @Account Closed :

@Bob Bowling

Here is my comparison: 

California is like Google stock, a great stock to invest in, you are going to make money but you have to deal with the dramatic ups and downs. Which means you have to deal with it when the market changes and you know very well Bob most people/investors get scared and run or sell during bad times. (The sky is falling mentality) For those who hang on, like you Bob, will reap the benefits of holding on. 

Whereas Indy is like a blue chip stock, such as Coke Cola or Pepsico, it will pay you dividends but will not have all the ups and downs. Why, because in good or bad times people will always buy Coke or Pepsi. (People eventually will move to places that are more affordable for them)

Interesting that is often how I describe my properties, my California properties as growth stocks, and my Ohio properties as utility stocks

@Anurag T.   See you are already being led down the garden path.  @Terone Johnson said, "he is wanting to sale both bring in over 8% cap rate".  He has no clue what that means and cannot tell you why that number should be of interest to you yet there you are PM'ing him thinking a clueless person is going to make you money when the opposite is probably true.  And that is the main problem with these Turnkeys.  95% of the providers/facilitators have no clue what they are doing.  Once they have your money and things go south they will try to get more money from you to "solve" the problem they created and walk away richer when you  finally realize the mess you are in.

Now let's look at some of the figures here.  $130,000 appreciating 2.6% is $3,380.  $615,000 appreciating at 9.6% is $59,040.  So if  4.73 of you went in on the Oakland property as a joint venture you would each have $12,482 in appreciation vs. being a lone wolf in Indy and only getting $3,380.   That is $9,100 MORE for the EXACT same investment.  Which one makes more financial sense?

@Account Closed

"up from the previous peak in the second quarter of 2015."  It is 2nd quarter 2015 peak to second quarter peak 2016.  Close enough YOY for me.  And do you see the irony is saying apples to oranges and then comparing real estate to stocks?  I've never seen a stock take BACK the dividends because of a terror tenant or an unexpected major repair.  But that happens all the time to cash faux!

@Bob Bowling

I don't play the stocks myself that's why my analogy is not the best. My point is, is that there is no one way to invest. The investor has to make the decision on what will be best for them. 

And yes it is like comparing apples and oranges. These markets are completely different from one another. California (cyclical) Indianapois (linear) 

An investor can do well in either market. Even if you don't want to accept that. 

Originally posted by @Account Closed :

@Bob Bowling

I don't play the stocks myself that's why my analogy is not the best. My point is, is that there is no one way to invest. The investor has to make the decision on what will be best for them. 

And yes it is like comparing apples and oranges. These markets are completely different from one another. California (cyclical) Indianapois (linear) 

An investor can do well in either market. Even if you don't want to accept that. 

Steve, Steve, Steve.  THERE IS ONE WAY TO INVEST, for profit!  Cash flow and appreciation are both a part of profit.  I can make a property cash flow in an appreciation market.  You can NOT make a property appreciate in a cash flow market.  Bummers.

Investing from a distance has costs.  Why invest in a less profitable market with these added costs?

From my decades of California investing I do not see it as a cyclical market.  My experience has been 110% up and 9% down about every 10 years.  That is pretty linear to me.  In Indianapolis if you mean flat as linear then I guess you are correct.  But not linear in a good way.  What was the median price in 2006, 1996, 1986?

You cannot provide any post by me saying investors cannot do well in any market.  Please stop posting inaccurate information.

Originally posted by @Account Closed :

@Bob Bowling

Steve, what's going on with that Fountain Square church condo for $750,000?  I've offered the buyer a winter month exchange in my ocean front Honolulu Gold Coast $900,000 condo.  I think you Hoosier Brokers are dropping the ball.

Oh Bob, I never said you said that. I don't know where you got that. Stop getting your undies in a bunch. 

 I can make a property appreciate in a cash flow market. It's all about where you buy in that local market. No there will not be 9% growth, YOY, like there is in California but if you buy in areas that are being redeveloped you can get your appreciation. 

As far as those past years they mean nothing to me, why? Because it is the past and Real Estate can change and so can economies. Indianapolis is growing and redeveloping itself as a whole. Bob, like it or not, the city is striving to make itself better then it once was. They are succeeding. 

Just so you know I don't disagree with you when it comes to these people needing to look in there own back yard. They should before going to other locations. I believe there has to stil be some great buys out there. 

lol! Bob you are to funny. That last post proves you know nothing about the Indianapolis market. 

You keep regurgitating the same crap. 

Originally posted by @Account Closed :

lol! Bob you are to funny. That last post proves you know nothing about the Indianapolis market. 

You keep regurgitating the same crap. 

 So as an Indianapolis Broker you have no clue about that condo?  What is your niche, $30,000 pigs?  Geez, you expect anyone to take Indy advice from you?  Com'on.  I want a Fountain Square update!!!! 

Please identify the same crap I'm regurgitating. 

Originally posted by @Account Closed :

Oh Bob, I never said you said that. I don't know where you got that. Stop getting your undies in a bunch. 

Steve posted, "An investor can do well in either market. Even if you don't want to accept that."

Geez Steve, your fascination with my undies is side tracking your train of thought.

https://www.meundies.com/

  For your viewing pleasure.

Originally posted by @Account Closed :

 I can make a property appreciate in a cash flow market. 

Nope!

Hi @Anurag T. ,

I am researching mid Rust Belt area for investment. As you already research...few questions?

  • Why you decided Indy for investment? 
  • How recession proof is that market?

Please share your experience once you come back from Indy.

Originally posted by @Bob Bowling:
Originally posted by @Steve L.:

@Bob Bowling

I don't play the stocks myself that's why my analogy is not the best. My point is, is that there is no one way to invest. The investor has to make the decision on what will be best for them. 

And yes it is like comparing apples and oranges. These markets are completely different from one another. California (cyclical) Indianapois (linear) 

An investor can do well in either market. Even if you don't want to accept that. 

Steve, Steve, Steve.  THERE IS ONE WAY TO INVEST, for profit!  Cash flow and appreciation are both a part of profit.  I can make a property cash flow in an appreciation market.  You can NOT make a property appreciate in a cash flow market.  Bummers.

Investing from a distance has costs.  Why invest in a less profitable market with these added costs?

From my decades of California investing I do not see it as a cyclical market.  My experience has been 110% up and 9% down about every 10 years.  That is pretty linear to me.  In Indianapolis if you mean flat as linear then I guess you are correct.  But not linear in a good way.  What was the median price in 2006, 1996, 1986?

You cannot provide any post by me saying investors cannot do well in any market.  Please stop posting inaccurate information.

That's Interesting.

I bought two 4 BRs in Brentwood CA very very close in size, age, location and time of purchase, 

In 2006 they both originally sold for about 700K (one just a little higher, one a little lower). I bought them in 2012 for 250K - 275K and they are now worth in 2016 about 525K - 535K. Just so they doesn't sound to anecdotal, I have a few other examples much like these, it seems to take a bit of real effort to work a straight line over that 10 year period.

With regard to cash flow market and appreciation market, nothing is either fully fish or fowl, everything lies along upon a spectrum. I can currently cash flow my CA properties, but my OH properties generate much more cash flow for dollar invested (and much much more at FMV), and yes they too have appreciated, not by as much granted, but they have appreciated (maybe about 4 to 5% a year). Its all a matter of your personal risk preference in deciding upon what mix is tailored for any one individual. That's why there is no one right answer.

Originally posted by @Christopher Smith :
Originally posted by @Bob Bowling:

That's Interesting.

I bought two 4 BRs in Brentwood CA very very close in size, age, location and time of purchase, 

In 2006 they both originally sold for about 700K (one just a little higher, one a little lower). I bought them in 2012 for 250K - 275K and they are now worth in 2016 about 525K - 535K. Just so they doesn't sound to anecdotal, I have a few other examples much like these, it seems to take a bit of real effort to work a straight line over that 10 year period.

Well duh, I can post tons of Mountain House properties that sold NEW for way too much to people that HAD to have granite and stainless and offices for husband and wife and separate bedrooms for Porshe and Wolf because we deserve it but are willing to drive the 60 miles at 2+hours each way.  Dang, what were they basing the market value on then?  Pie in the sky! 

And now you can't walk your dog or let yer kids out because the algae infestation will kill'em!   You've stated my case  Buy crap, get crap.

http://www.thepress.net/news/blue-green-algae-warn...

Originally posted by @Bob Bowling:
Originally posted by @Christopher Smith:
Originally posted by @Bob Bowling:

That's Interesting.

I bought two 4 BRs in Brentwood CA very very close in size, age, location and time of purchase, 

In 2006 they both originally sold for about 700K (one just a little higher, one a little lower). I bought them in 2012 for 250K - 275K and they are now worth in 2016 about 525K - 535K. Just so they doesn't sound to anecdotal, I have a few other examples much like these, it seems to take a bit of real effort to work a straight line over that 10 year period.

Well duh, I can post tons of Mountain House properties that sold NEW for way too much to people that HAD to have granite and stainless and offices for husband and wife and separate bedrooms for Porshe and Wolf because we deserve it but are willing to drive the 60 miles at 2+hours each way.  Dang, what were they basing the market value on then?  Pie in the sky! 

And now you can't walk your dog or let yer kids out because the algae infestation will kill'em!   You've stated my case  Buy crap, get crap.

http://www.thepress.net/news/blue-green-algae-warn...

Actually neither of those 700K sales amounts were attributable to purchases from the builder (not that it would really matter). Additionally, before you dis Brentwood (if that is what you were trying to do) Nerdwallet actually rated it not too long ago as the #1 area in California to buy a home. Not that I would personally agree, but it is a fact. 

Also trying to figure out what algae blooms in your http link have to do with any of this. :)  

I THINK BASED ON THIS THREAD  I will start a Indy turn key company as it seems there is a void.

:)

@Anurag T. I can do some introductions for you in the Indy market if you would like.  Investor from Livermore here.  And/or let me know if you would like to sit down and discuss Indy and the strategies there if you have 30 min.   I have been actively working in this market for over 18 months.  Cheers. 

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