Updated about 5 years ago on . Most recent reply
Rental report data resources for OOS investor.
Hi everyone, and thank you in advance for your interaction and guidance!!
I am a long-time student of BP and a new pro-member who is investing with a partner in northwest IN (we have 1 SFH in Merrillville and looking for another in the general area), as well as actively shopping, with a local agent, for a multifamily property in Indianapolis. We are both California residents currently building our portfolio in IN.
As we have been conducting our due diligence, putting our team together and analyzing properties, we are having trouble finding reliable PM's to connect with to gain reliable rental report data for neighborhoods where our prospective properties are, in order to plug in accurate numbers into the BP calculators and cross-verify our leads.
My questions are:
1: What resources do you use to gain accurate rental report data (vacancy rate, average rent amount, turnover, etc...)
2: What strategies do you use to gain this info from Property Managers (if that is your go-to)?
3: Are there any 3rd party services that provide this information (websites, etc...)?
4: What methods/strategies do you use to vet Property Managers from out of state?
Any and all information and guidance is greatly appreciated!! This platform and community is a GOLDMINE of information and resources!! Thanks again.