Vetting turnkey company in Indianapolis

Ask About A Real Estate Company
11yFollow

Vetting turnkey company in Indianapolis

Dustin Karns
Investor · Fort Wayne, IN · Member since 2014 · 15 posts · 8 votes

I'm looking to get into a turnkey in the Indy area this year, and just wanted to see if anyone has worked with this company that we're planning to use.  We've met the them a couple of times for a seminar that they put on.  It was really informational and they do a bus tour of the city to show off some of their houses. They seem like a great company but just wanted to see if anyone had any experience with them.  

It's Alpine Capital Solutions and Alpine Property Management.  They also have a wholesale company called Wholesale Houses and a couple other entities.  They're owned by a guy named Aaron Adams.  

I'd love to hear from other investors who have had experience with them.  Thanks!!  

1Reply
354 views

Investor-friendly agents in Indianapolis, IN

See the agents BiggerPockets members work with in Indianapolis, IN.

Most Popular Reply

Peter Hebert
Raleigh, NC · Member since 2013 · 1 post · 4 votes
10y

Agree with the earlier poster-- the folks in the office are great and super nice, but I have three homes with Alpine and the tenant quality is pretty disappointing. I have 11 late payments across two of the properties in the last 12 months. One of the three is barely at cash flow break-even this year due to lost rents and needed repairs after the last tenant broke the lease and vacated. 

4Reply
See this reply in the discussion

30 Replies

Jump to latestLatest
  • Don Johnston
    Chula Vista, CA · Member since 2015 · 90 posts · 25 votes
    11y

    @Dustin Karns   I and my sister have been working in the Indy area.  Me from San Diego and my sister goes to Indy several times a year.  I haven't heard of the company but that means nothing.  There are many on BiggerPockets who are in the Indy area.  If you are a Pro member you could search for them as well as find properties in the marketplace.  I just upgraded to Pro and feel it is worth the "pocket change" per month for the subscription.  (@Joshua D.   I am assuming it is OK to promote going Pro on this site.)

    1Reply
  • Mike D'ArrigoPro Member
    Turn key provider · San Jose, CA · Member since 2010 · 4k+ posts · 3k+ votes
    11y

    @Dustin Karns 

    I know Aaron Adams and he's a good guy. He focuses on the lower end Center township properties so you have to decide if that's what you want. You might also talk to @Ryan Mullin here on BP if you want Center township. If you're interested in somewhat higher end properties in the suburbs, I'd be happy to help you. We've been doing turn key properties in Indianapolis for about 5 years and focus more in the Townships. Feel free to reach out if you'd like some help or go to our website.

    1Reply
  • Don Harris
    Realtor · Charlotte, NC · Member since 2014 · 935 posts · 467 votes
    11y

    @Dustin Karns Alpine is a very legit tk operation in Indy. Mike mentioned thier area of focus. They seem to be very high volume and low pressure. I would encourage you to attend the bus tour and learn first hand the Indy market. Take an extra day and visit Ryan's FS Houses and Mike's Pinnacle offerings as well. Other Indy property offerings frequently pop up on the market place and you should review those as well. 

    1Reply
  • Ben G.Pro Member
    Investor · Indianapolis, IN · Member since 2013 · 647 posts · 196 votes
    11y

    I've wholesaled them multiple properties.  They fix them up and then sell them turnkey. 

    They are honest and easy to work with.  They also manage the properties they sell, not all turnkey companies can say that. Therefore, it's in their best interest to sell you something thats going to perform.

    Podcast Guest on Show #91
    2Reply
  • Dustin Karns
    OP
    Investor · Fort Wayne, IN · Member since 2014 · 15 posts · 8 votes
    11y

    Yeah, we did do their bus tour when we were home last year. I wish we could get out in the city more and get to know the neighborhoods, but we're living abroad at the moment.

    Of the neighborhoods we did see in Indy, Fountain Square stands out to me. Anyone able to give me some more information about that area? Like I said, wish we could drive it and get to know it, but need to rely in others until we get back to the States. That neighborhood seems to have some long term cashflow and appreciation potential.  

    0Reply
  • Rodney Kuhl
    Rental Property Investor · Fishers, IN · Member since 2013 · 381 posts · 69 votes
    11y

    @Dustin Karns Alpine hosts a monthly meetup that I attend regularly that is very informative and helpful. They are good people for sure. PM me if you'd like and I can answer any specific questions you have or give a second opinion on any properties you are looking at. 

    0Reply
  • Shawn Holsapple
    Residential Real Estate Broker · Indianapolis, IN · Member since 2010 · 1k+ posts · 557 votes
    11y

    @Dustin Karns I attend their monthly meetings, go to a bus tour on occasion and sell them several properties a year.

    @Don Harris summed it up nicely.

    0Reply
  • Wei Peng
    Investor · Toronto, Ontario · Member since 2015 · 21 posts · 1 vote
    11y

    @Dustin Karns I am here in Indy to meet with a few TK guys as well as PM companies. I will pm you to share my experience once I get home.

    0Reply
  • David ShortPro Member
    Flipper/Rehabber · Fishers, IN · Member since 2014 · 71 posts · 47 votes
    11y
    I also have some turnkey properties. I am a seasoned investor and do 30+ flips a years. My areas and flip quality will surprise you. PM me Dave Short. Have 3 right now.
    Podcast Guest on Show #174
    0Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    11y

    @Dustin Karns 

      Aaron and I go way back... and have lots of water under the bridge... he has done a very nice job there in Indy and will be there for the long haul..

    He started out as just PM and in the last few years has taken on the full TK roll as owner operator.. I was on one of his bus tours and gave a brief talk at one of his meetings a few years ago..

    Podcast Guest on Show #222
    JLH Capital Partners51 Review
    WebsiteView Page
    0Reply
  • Account Closed
    Indianapolis, IN · Member since 2013 · 210 posts · 149 votes
    11y

    @Jay Hinrichs (bus tour) That's where I know you from. I was trying to figure it out. I saw you speak at that event. We even had a little chat about your loan program. 

    @Dustin Karns Fountain Square is still a great place for buy/hold and appreciation. It is a very diverse community with a good mix of rentals and owner occupants. If you buy right you should not have much of a problem finding a good property in FS.

    New businesses are moving into the area all the time. 

    Here is a few articles 

    http://www.indystar.com/story/entertainment/dining...

    http://www.ibj.com/articles/49751-developer-plans-...

    http://archive.indystar.com/article/20130419/OPINI...

    http://www.insideindianabusiness.com/newsitem.asp?...

    0Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    11y

    @Account Closed 

      Yes that was when I first rolled out my 5 year true NON RECOURSE loan program for non owner occ's... we did quite a few for Aarons clients in the subsequent months.

    Podcast Guest on Show #222
    JLH Capital Partners51 Review
    WebsiteView Page
    0Reply
  • Account Closed
    Indianapolis, IN · Member since 2013 · 210 posts · 149 votes
    11y

    @Jay Hinrichs 

    That's great that you had success with that program. Aaron does favor the non recourse loans. 

    I notice that Alpine is not on your new website. Have you had chance to reach out to Aaron about it? I would think he would be all for the opportunity. 

    0Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    11y

    I have not reached out to Aaron I will do that this week though.

    thank you

    @Account Closed 

    Podcast Guest on Show #222
    JLH Capital Partners51 Review
    WebsiteView Page
    0Reply
  • Ryan Mullin
    Real Estate Broker · Indianapolis, IN · Member since 2009 · 575 posts · 496 votes
    11y

    Thanks @Mike D'Arrigo 

    Yes, Alpine is the biggest TK organization in Indy from what I have seen. Actually.. Probably one of the bigger ones in the country with their Dallas and Kansas City chapters. I've worked with Aaron in various scenerios for 10 years now. We've done millions and millions in business over the years (mostly on a handshake) and he has never done me wrong. My wife @Ashley Mullin  worked for Alpine property management from 2006 until she left in Jan. 2014 to come on board with me. We have learned a ton from Aaron and are blessed to have been a part of his organization.

    With all that being said...  Every investor should obviously do there due diligence on every single deal.  

    @Dustin Karns  If you can get a deal in Fountain Square I say snatch it up! The days of cash flow properties in that neighborhood are numbered.  I have been investing in Fountain Square since 2004 and fancy myself to be a street by street expert. After 11 years F.S. is Still my favorite neighborhood.  - Let me know if you have any questions.  

    4Reply
  • Jynell BerkshirePro Member
    Real Estate Attorney, Broker, Investor · Indianapolis, IN · Member since 2013 · 207 posts · 58 votes
    11y

    Dustin,

    Aaron at Alpine is a very solid and legitimate turnkey operation in Indianapolis. Overall good people with good business sense.

    I highly recommend Ryan and Ashley as well. Especially if you are interested in a company that is less volume with strong investor focus.

    Either way, both are great organizations you should be working with.

    0Reply
  • Dustin Karns
    OP
    Investor · Fort Wayne, IN · Member since 2014 · 15 posts · 8 votes
    11y

    Thanks everyone for all the great advice!!  

    0Reply
  • Pat Jenks
    Investor · Sidney, NE · Member since 2014 · 1 post · 2 votes
    11y

    @dustin karns

    I notice that in all of the posts, many say that Aaron is a nice guy, but no one has yet said that they have invested with him. Aaron and all of the people that work with are nice people, but unfortunately, my husband and I have invested with him, and it has turned out to be one of the worst decisions we have ever made.  The tenants they put in quite paying rent, then destroy the property, then we have a big rehab bill to get it ready for the next go around. Not to mention the lost rent income during the rehab!  We purchased 3 properties and have had trouble with all 3.  Wish we would have done a little research, before we invested. :(

    2Reply
  • Harry Zhou
    Investor · Walnut Creek, CA · Member since 2015 · 101 posts · 32 votes
    11y
    Originally posted by @Pat Jenks:

    @dustin karns

    I notice that in all of the posts, many say that Aaron is a nice guy, but no one has yet said that they have invested with him. Aaron and all of the people that work with are nice people, but unfortunately, my husband and I have invested with him, and it has turned out to be one of the worst decisions we have ever made.  The tenants they put in quite paying rent, then destroy the property, then we have a big rehab bill to get it ready for the next go around. Not to mention the lost rent income during the rehab!  We purchased 3 properties and have had trouble with all 3.  Wish we would have done a little research, before we invested. :(

     Oops, @Dustkin Karns, please share your experience. I was about to push the button until this came out.

    0Reply
  • Harry Zhou
    Investor · Walnut Creek, CA · Member since 2015 · 101 posts · 32 votes
    11y

    @Dustin Karns, the @mention didn't work. Please look at my last post thanks

    0Reply
  • Dustin Karns
    OP
    Investor · Fort Wayne, IN · Member since 2014 · 15 posts · 8 votes
    11y

    @Harry Zhou

    We actually haven't moved forward yet.  So, I'm not able to share anything specific.

    0Reply
  • Harry Zhou
    Investor · Walnut Creek, CA · Member since 2015 · 101 posts · 32 votes
    11y

    @Dustin Karns

    Following up... any updates? I just freed up some funds to snag another one...

    0Reply
  • Peter Hebert
    Raleigh, NC · Member since 2013 · 1 post · 4 votes
    10y

    Agree with the earlier poster-- the folks in the office are great and super nice, but I have three homes with Alpine and the tenant quality is pretty disappointing. I have 11 late payments across two of the properties in the last 12 months. One of the three is barely at cash flow break-even this year due to lost rents and needed repairs after the last tenant broke the lease and vacated. 

    4Reply
  • Carl Dean
    Rental Property Investor · Dallas, TX · Member since 2015 · 106 posts · 66 votes
    10y

    I recommend Barron Property Management. I have used them for more than 700 homes in Indy. I have a portfolio as well I offer to investors big and small. I can also help clients with rolling over their retirement funds and leveraging with non-recourse financing 60% LTV. Feel free to reach out and I can have the inventory list sent to you for your review.

    Cheers, 

    C Dean

    0Reply
  • Jeff Howard
    Ladera Ranch, CA · Member since 2016 · 34 posts · 7 votes
    10y

    Just an FYI, and I have not worked with them but I am in the process of vetting TK companies all over the US, but Alpine Property Management has a 1.4 Star rating on Google reviews with 47 reviews.  That is one of the lowest ratings I have ever seen for any busiiness.

    0Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free