Real Estate Agent · Belmar, NJ · Member since 2017 · 370 posts · 200 votes
Hi Everyone,
A late happy new year to all! I am looking to invest out of state in 2019, and I am currently considering the Indianapolis market. I am located in New Jersey so it would be great to chat with other investors / actors in the market and get some perspective on potential team members, neighborhoods, prices, etc. I have seen plenty of posts discussing growth in the area and some basic analysis shows that properties are certainly priced favorably (price to rent ratio, etc.) when compared to my home market.
My strategy will be to use the BRRRR method (unique, I know) to invest in SFR and MFR (when available) for positive cash flow and to use a full-service team (agent, contractor, PM). Also, I am looking for a HML to help finance the first few as I grow.
Again, any advice / comments would be very appreciated. Thank you for your time if you're still reading :-)
Investor · Indianapolis, IN · Member since 2017 · 8 posts · 10 votes
7y
Cody,
I'd highly encourage you to talk with Jeff Wallenius of North Peak Investments. Honest, reliable and professional. Offers full turn-key solutions as well as a variety of financing options. Really encourage you to do your due diligence on anyone you talk to as we've had a few bad experiences here. Jeff's been featured on Bigger Pockets podcasts (#241) and has invested extensively in the Indianapolis market.
Investor · Indianapolis, IN · Member since 2017 · 8 posts · 10 votes
7y
Cody,
I'd highly encourage you to talk with Jeff Wallenius of North Peak Investments. Honest, reliable and professional. Offers full turn-key solutions as well as a variety of financing options. Really encourage you to do your due diligence on anyone you talk to as we've had a few bad experiences here. Jeff's been featured on Bigger Pockets podcasts (#241) and has invested extensively in the Indianapolis market.
I'd highly encourage you to talk with Jeff Wallenius of North Peak Investments. Honest, reliable and professional. Offers full turn-key solutions as well as a variety of financing options. Really encourage you to do your due diligence on anyone you talk to as we've had a few bad experiences here. Jeff's been featured on Bigger Pockets podcasts (#241) and has invested extensively in the Indianapolis market.
Thanks for information. I appreciate the honest and referral - I will definitely not be jumping into anything - I appreciate how much I don't know and that it will require patience and persistence to successful at this.
New York City, NY · Member since 2018 · 26 posts · 8 votes
7y
@Cody Z. I am also an out of state investor with both rentals and single family new builds. Best folks to contact are the guys at Bildwise (@Ritch Bonisa) they are fantastic in providing boots on the ground, scope of rehab quotes and then running the rehab (or new build) as your project manager.
PM me if you want to talk specific projects the guys at Bildwise (@Ritch Bonisa) have done for me.
Investor · Indianapolis, IN · Member since 2016 · 232 posts · 133 votes
7y
@Cody Z. I'm sure you're familiar with the usual recommendations of going to local meetups in your area and connecting with investors who invest in Indy, going through forum posts on here and network with folks that might be a good fit for you. But I also recommend checking out the FB groups - Indianapolis out of state investors and indianapolis real estate investors. There's a bunch of other FB investment groups in Indy but these are the most active ones. There are locals, out of staters and other professionals that can answer your questions. You'll get sales pitches as well :) Good luck!
@Cody Z. I'm sure you're familiar with the usual recommendations of going to local meetups in your area and connecting with investors who invest in Indy, going through forum posts on here and network with folks that might be a good fit for you. But I also recommend checking out the FB groups - Indianapolis out of state investors and indianapolis real estate investors. There's a bunch of other FB investment groups in Indy but these are the most active ones. There are locals, out of staters and other professionals that can answer your questions. You'll get sales pitches as well :) Good luck!
Thank you for the recommendation, I will definitely check out the Facebook groups. How is your investing going? Who do you use for PM, Agent, Lenders?
Rental Property Investor · San Diego, CA · Member since 2016 · 15 posts · 8 votes
7y
@Cody Z. I’m a prospective investor from San Diego looking at Indy. I’m actually in Indy right now meeting with local service providers and investors. Would be happy to connect when I’m home next week and share my experiences.
Rental Property Investor · Findlay, OH · Member since 2016 · 17 posts · 17 votes
7y
I have been an out of state investor in Indianapolis for the last several years. I would certainly be willing to share with you my experiences and the current team I have in place.
Indianapolis · Member since 2019 · 3 posts · 0 votes
7y
Would love to set up a time to chat, My Brokerage, Indy Home Shop specializes in OOS Investors, from finding a property, connecting you with the best contractors in the area and making sure every step goes as smooth as possible! Shoot me a message or email and we can find a time to talk about the Indianapolis market!