Carmel, IN · Member since 2020 · 4 posts · 4 votes
Just got an offer accepted on my first rental property in the downtown Indianapolis area! It's a duplex that needs some TLC. Specifically for this deal, I'm looking for a good property management company and a contractor to get this property ready to go! This is the first of hopefully many properties in the future! Contact me if you have any good recommendations! Thanks in advance, and I'm excited to embark on this journey!
Rental Property Investor · Petaluma, CA · Member since 2015 · 151 posts · 143 votes
5y
Reach out to @Nick Giulioni he has some solid resources. I would also recommend asking your realtor for their recommendation. Nice job taking action on the purchase.
@Greg Hopkinson Congratulations, and welcome to the REI path. Finding your team is vital, and I can always help with some recommendations when needed. I wouldn't be where I'm at now if it wasn't for this site/podcasts. Most people get stuck on the taking action part, now you. Proud moment!
Rental Property Investor · Petaluma, CA · Member since 2015 · 151 posts · 143 votes
5y
Reach out to @Nick Giulioni he has some solid resources. I would also recommend asking your realtor for their recommendation. Nice job taking action on the purchase.
Carmel, IN · Member since 2020 · 4 posts · 4 votes
5y
Thanks for the help guys, I appreciate the encouragement. I'm excited to get started on this journey. Hopefully the first (technically two since it's a duplex) of many!
Carmel, IN · Member since 2020 · 4 posts · 4 votes
5y
Thanks for all the well wishes... Unfortunately, I ended up pulling out of the deal. After the inspection it turned out it just needed too much work and would not have made sense financially. There was mold, knob and tube wiring, the "new" roof was done horribly and needed to be ripped off and redone... it was basically a complete gut job. I am on the lookout for a different opportunity, but am probably going to wait till the spring unless something good pops up.
Investor · Chicago, IL · Member since 2020 · 32 posts · 14 votes
5y
Congratulations, Greg! I am looking to take action and purchase my first property in Indy soon as well. I would definitely like to connect and chat with you sometime soon.
Thanks for all the well wishes... Unfortunately, I ended up pulling out of the deal. After the inspection it turned out it just needed too much work and would not have made sense financially. There was mold, knob and tube wiring, the "new" roof was done horribly and needed to be ripped off and redone... it was basically a complete gut job. I am on the lookout for a different opportunity, but am probably going to wait till the spring unless something good pops up.
Just curious, why are you going to wait till spring?
Carmel, IN · Member since 2020 · 4 posts · 4 votes
5y
@Bryan Richardson everything I’ve read/heard says it’ll be better for finding tenants and there will be more inventory. I told my realtor that I’ve been working with that if something good comes up in the meantime, I’m willing to jump on it, but not in a rush.
Rental Property Investor · Indianapolis, IN · Member since 2018 · 189 posts · 141 votes
5y
@Greg Hopkinson
Trust me you will never have trouble finding tenants, as long as you have a clean and safe house. I personally find the winter months easier because you don't have to worry about the grass/yard work as it sits empty.
Investor · Bend, OR · Member since 2019 · 61 posts · 68 votes
5y
You win some you lose some! It's all part of the game. I'm scaling a portfolio in Indy and have all of the pieces of the puzzle together from a deal flow (always looking for more sources), financing, contractor, and PM perspective. I'm glad to connect to share with you my experience and overall network.