Managing Your Property

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Ron Henderson
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Regions with reliable and affordable contractors?

Ron Henderson
Posted Jan 21 2023, 13:55

In this market I don't see a way to invest in properties without buying fixer uppers as I want to be able to cash flow so was curious if anyone has an idea of the contracting landscape nationally. I've traveled in enough parts of the country to where, for example, I think somewhere like Indianapolis would be pretty affordable and easy enough to find contractors whereas Florida metros would be more expensive but since I've never invested in any of these areas I'm not certain. 

curious if anyone feels the Midwest overall would be the most budget friendly and easy to find contractors and if some areas of the south might be similar? I'm from the west coast and the costs here are just too high for me so I've pretty much written off investing here so i figure out the best best thing is to do it where it's as efficient as possible to deal with contractors.

Thanks

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Pam Brown
  • Real Estate Agent
  • Indianapolis IN
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Pam Brown
  • Real Estate Agent
  • Indianapolis IN
Replied Jan 22 2023, 07:28

Hi Ron

I'm a real estate broker in Indianapolis.  We have a full property management team and a list of approved, licensed vendors.  Just send me a message and we can connect and talk over the market here.

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Bob Stevens#5 All Forums Contributor
  • Real Estate Consultant
  • Cleveland
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Bob Stevens#5 All Forums Contributor
  • Real Estate Consultant
  • Cleveland
Replied Jan 22 2023, 07:30
Quote from @Ron Henderson:

In this market I don't see a way to invest in properties without buying fixer uppers as I want to be able to cash flow so was curious if anyone has an idea of the contracting landscape nationally. I've traveled in enough parts of the country to where, for example, I think somewhere like Indianapolis would be pretty affordable and easy enough to find contractors whereas Florida metros would be more expensive but since I've never invested in any of these areas I'm not certain. 

curious if anyone feels the Midwest overall would be the most budget friendly and easy to find contractors and if some areas of the south might be similar? I'm from the west coast and the costs here are just too high for me so I've pretty much written off investing here so i figure out the best best thing is to do it where it's as efficient as possible to deal with contractors.

Thanks


 All you need to do is find the market you want. Then connect with those that provide rentals and handles all. 

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Kerry Noble Jr
  • Investor
  • Indianapolis, IN
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Kerry Noble Jr
  • Investor
  • Indianapolis, IN
Replied Jan 23 2023, 05:53

You can find a lot of contractors here in Central IN but youll find out a lot of them are not that great. more than anything its the business practices........please reach out of you ever need a contractor in central Indiana

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Patrick Drury
  • Real Estate Agent
  • Columbus, OH & Cleveland OH
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Patrick Drury
  • Real Estate Agent
  • Columbus, OH & Cleveland OH
Replied Jan 23 2023, 09:34

@Ron Henderson
The Midwest is a great place to look for cash flow. I would recommend checking out the Columbus OH and Cleveland OH markets. 

  • (614) 412-4565

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James Wise#2 General Real Estate Investing Contributor
  • Real Estate Broker
  • Cleveland, OH
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James Wise#2 General Real Estate Investing Contributor
  • Real Estate Broker
  • Cleveland, OH
Replied Jan 23 2023, 12:01
Quote from @Ron Henderson:

In this market I don't see a way to invest in properties without buying fixer uppers as I want to be able to cash flow so was curious if anyone has an idea of the contracting landscape nationally. I've traveled in enough parts of the country to where, for example, I think somewhere like Indianapolis would be pretty affordable and easy enough to find contractors whereas Florida metros would be more expensive but since I've never invested in any of these areas I'm not certain. 

curious if anyone feels the Midwest overall would be the most budget friendly and easy to find contractors and if some areas of the south might be similar? I'm from the west coast and the costs here are just too high for me so I've pretty much written off investing here so i figure out the best best thing is to do it where it's as efficient as possible to deal with contractors.

Thanks


 Midwest is very affordable. However tons of investors from the west coast come out here and run into issues when trying to find labor. Here in the Cleveland market where I operate it's next to impossible to get quality contractors unless you go through one of the larger property management firms in the area.

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Remington Lyman
  • Real Estate Agent
  • Columbus, OH
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Remington Lyman
  • Real Estate Agent
  • Columbus, OH
Replied Jan 23 2023, 12:09
Quote from @Ron Henderson:

In this market I don't see a way to invest in properties without buying fixer uppers as I want to be able to cash flow so was curious if anyone has an idea of the contracting landscape nationally. I've traveled in enough parts of the country to where, for example, I think somewhere like Indianapolis would be pretty affordable and easy enough to find contractors whereas Florida metros would be more expensive but since I've never invested in any of these areas I'm not certain. 

curious if anyone feels the Midwest overall would be the most budget friendly and easy to find contractors and if some areas of the south might be similar? I'm from the west coast and the costs here are just too high for me so I've pretty much written off investing here so i figure out the best best thing is to do it where it's as efficient as possible to deal with contractors.

Thanks


 Columbus, Ohio is pretty budget friendly 

  • Real Estate Agent Ohio (#2019003078)

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Steven Wilson#1 New Member Introductions Contributor
  • Rental Property Investor
  • Columbus, OH
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Steven Wilson#1 New Member Introductions Contributor
  • Rental Property Investor
  • Columbus, OH
Replied Jan 24 2023, 10:22
Quote from @Ron Henderson:

In this market I don't see a way to invest in properties without buying fixer uppers as I want to be able to cash flow so was curious if anyone has an idea of the contracting landscape nationally. I've traveled in enough parts of the country to where, for example, I think somewhere like Indianapolis would be pretty affordable and easy enough to find contractors whereas Florida metros would be more expensive but since I've never invested in any of these areas I'm not certain. 

curious if anyone feels the Midwest overall would be the most budget friendly and easy to find contractors and if some areas of the south might be similar? I'm from the west coast and the costs here are just too high for me so I've pretty much written off investing here so i figure out the best best thing is to do it where it's as efficient as possible to deal with contractors.

Thanks


You should check out Cleveland, Columbus. Your money will go very far, you'd be able to pick up a multifamily portfolio and start your cash flow. Not to mention Ohio is a landlord-friendly state.

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Drew Sygit#3 Managing Your Property Contributor
  • Property Manager
  • Birmingham, MI
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Drew Sygit#3 Managing Your Property Contributor
  • Property Manager
  • Birmingham, MI
Replied Jan 24 2023, 10:26

@Ron Henderson the cost for contractors is tied to the cost of living for the area.

You might want to follow the "Deep Dive" series we're doing on our BiggerPockets blog about Metro Detroit cities, City of Detroit Neighborhoods and comparing Metro Detroit to other hotspots investors usually consider:

https://www.biggerpockets.com/...
(BP search feature can be problematic, so we’ve also added links @ our website under View Cities & Neighborhoods We Service)

Doubt you'll find this much info for any other market in the country. So, why would you invest remotely anywhere else?

Please send us any feedback via email, as we do not use the DM feature here.
Also, if you like our response, please don’t be shy about giving us a vote😊

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Eliott Elias#3 All Forums Contributor
  • Investor
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Eliott Elias#3 All Forums Contributor
  • Investor
  • Austin, TX
Replied Jan 24 2023, 20:57

Everyone is targeting these cheap markets thinking cheaper = making more money. The ROI is stronger but you end up putting way more hours into your projects and make pennies. More expensive markets breed more reliable and available labor.

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Replied Jan 25 2023, 01:01
Quote from @Ron Henderson:

In this market I don't see a way to invest in properties without buying fixer uppers as I want to be able to cash flow so was curious if anyone has an idea of the contracting landscape nationally. I've traveled in enough parts of the country to where, for example, I think somewhere like Indianapolis would be pretty affordable and easy enough to find contractors whereas Florida metros would be more expensive but since I've never invested in any of these areas I'm not certain. 

curious if anyone feels the Midwest overall would be the most budget friendly and easy to find contractors and if some areas of the south might be similar? I'm from the west coast and the costs here are just too high for me so I've pretty much written off investing here so i figure out the best best thing is to do it where it's as efficient as possible to deal with contractors.

Thanks

 affordable contractors are actually everywhere, including on the coast, it's just that you have to talk to them on the same language and then give them a project so you find a reliable and affordable one. 

One thing that @James Wise said is true, usually with good and reliable PM you would have access to reliable and affordable contractors as well.

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Miranda Micire
  • Real Estate Agent
  • Pittsburgh, PA
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Miranda Micire
  • Real Estate Agent
  • Pittsburgh, PA
Replied Jan 25 2023, 04:15

Hey there-  you can definitely find a turnkey cashflowing property right now in the right market. I am an agent/investor in Pittsburgh and buyers are getting houses below asking and even some concessions.  If I had access to a bunch of money right at this moment I'd be buying left and right here.