Indianapolis Turnkey Providers

Danville, CA · Member since 2016 · 17 posts · 7 votes

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.

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Jay HinrichsBusiness Member

Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes

10y

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

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Chatree C.
Real Estate Investor · San Francisco Bay Area, CA · Member since 2016 · 66 posts · 36 votes
10y
Hi @Anurag T. I'm also in the Bay Area and looking into investing in Indy! I'm new to real estate investing but have lived in Indianapolis for 5 years so I felt that I at least know some of the areas and doesn't go in totally blind. Still considering Turnkey or making connections over there, though.
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Joshua Bangert
Real Estate Investment Advisor · Indianapolis, IN · Member since 2016 · 28 posts · 6 votes
10y
BiggerPockets is a great place to start! I'm a founder of an Indianapolis property management company and have been in the industry for nearly 16 years. Investing is definitely a passion of mine and any opportunity I have to discuss real estate investing in general or the Indianapolis market specifically I definitely try to take advantage of. What questions do you have about the Indianapolis market?
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Account Closed
Investor · Singapore · Member since 2013 · 1k+ posts · 3k+ votes
10y
California is not a monolithic market. Even the Bay Area is not one. Brentwood is completely different than Palo Alto. In the core Bay Area (most of SJ, peninsula, east bay up to Berkeley etc) the market is exactly as @Account Closed describes over a 10 year horizon. Go further out there at 2 hour driving commutes its different. There the values do go up and down more dramatically. I would not buy outlying Bay Area properties today at this point in the cycle. But would consider core areas with the understanding that I may be overpaying by up to 10% but over 10 years it will be a winner.
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Christopher Smith
Investor · brentwood, CA · Member since 2016 · 1k+ posts · 730 votes
10y
Originally posted by @Account Closed:

California is not a monolithic market. Even the Bay Area is not one. Brentwood is completely different than Palo Alto. In the core Bay Area (most of SJ, peninsula, east bay up to Berkeley etc) the market is exactly as @Account Closed describes over a 10 year horizon. Go further out there at 2 hour driving commutes its different. There the values do go up and down more dramatically. I would not buy outlying Bay Area properties today at this point in the cycle. But would consider core areas with the understanding that I may be overpaying by up to 10% but over 10 years it will be a winner.
I'm a Brentwood guy who started buying up SFRs in 2011-2013 time fame and the return over roughly the past 3 to 4 years has been breath taking. I do wonder how much longer that will last, we are experiencing a big surge in building out here again, so I am looking for growth in underlying prices to cool (maybe quite a bit). I won't be selling what I already have in Brentwood because I think long term its still a very positive place to be, plus rents here on my original cost are great (they are up about 40% during this same period).
However, my new money will be going elsewhere. I have a spot in the Midwest where I once lived that's doing quite well and I already have all the infrastructure in place there (prop mgr/agent, ins guy, etc.), and that helps immensely. Rental rates there are at least twice as high as in Brentwood. Growth won't be anything like it has been in Brentwood over the past 3 to 4 years, but I'm anticipating underlying appreciation to be around 5%, plus another 8% to 9% on the rental income side. Not a home run shot by any means, but it gets me solidly on base, plus I can get near turnkey quality properties there at a small but not insignificant discount from market. I just give my prop mgr there POA and he does almost all of the rest other than setting final acquisition prices - I still do that part.
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Anurag T.
OP
Danville, CA · Member since 2016 · 17 posts · 7 votes
10y
@Chatree C. Good to know that you are also considering Indy area. PM me know if you need some information.
@Joshua Bangert Thanks for replying the post, you being a local to Indy can definitely help out of state investors like us. It will be very beneficial if you can let us know good returns rental area in Indy at very high level. Also, any recommendation of Turnkey providers or any other strategy that is inline with buy and hold strategy for passive income in Indy area.
@Christopher Smith Thanks for sharing your experience. It seems you are well set with your area of choice. Congrats!!
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Rudy Manna
Investor · Redmond, WA · Member since 2016 · 267 posts · 110 votes
10y
Is investing cash flow in Indy a fashion statement?
Why not Cincinnati, Dayton, Kentucky, Idaho, Florida and the zillion other places?
Smells like a investment bubble create by some turnkeys providers. Or just plain trending fashion?
You can always find a cash flow spot nearer you than Indy.
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Joshua Bangert
Real Estate Investment Advisor · Indianapolis, IN · Member since 2016 · 28 posts · 6 votes
10y
@Christopher Smith @Anurag T. Indianapolis is worlds apart from the California market and @Account Closed describes it succinctly. What makes Indianapolis different from many of the Midwest markets has more to do with the diversity of the economy, allowing for a more robust rental market. Indianapolis was recently named the #2 city in America for new college graduates by Trulia and holds a respectable position in most other similar ranking studies.
Rudy Manna
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Christopher Smith
Investor · brentwood, CA · Member since 2016 · 1k+ posts · 730 votes
10y
Originally posted by @Joshua Bangert:

@Christopher Smith @Anurag T. Indianapolis is worlds apart from the California market and @Account Closed describes it succinctly. What makes Indianapolis different from many of the Midwest markets has more to do with the diversity of the economy, allowing for a more robust rental market. Indianapolis was recently named the #2 city in America for new college graduates by Trulia and holds a respectable position in most other similar ranking studies.
Rudy Manna
Indianapolis has always been a solid city, its kind of like the US's center of gravity from a population standpoint so it would not surprise me that it has a strong rental market. But I do wonder if it is being over hyped some in these forums. It almost sounds as if everyone is repeating it because they here other folks saying it - that always starts to concern me. There are actually a number of strong rental markets in that area of the country. I have one between Dayton and Cincinnati that's very strong with all the infrastructure already in place.
With regard to CA, rental rates are currently low to FMV true, but that is primarily because underlying appreciation has been about 100% over the last 4 years in many areas with rents rising only about 40% during the same period, a most enviable "problem" to have for sure if you played it right. There are a lot of CA investors that have made an absolute killing out here over the last couple of years. Some have made in 4 years what it would take an entire career to make in many other markets.
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Account Closed
Registered Nurse (ICU) · San Jose, CA · Member since 2014 · 496 posts · 332 votes
10y
All this talk about the different markets means nothing if you don't have good people to help you in these markets. That's the tricky part.
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Jeb Brilliant
Rental Property Investor · Long Beach, CA · Member since 2015 · 623 posts · 155 votes
10y
Hi @Anurag T. who's very nice and does turnkey.
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