New multifamily(2unit) investor in Indianapolis any starting advice

Hinton, WV · Member since 2026 · 6 posts · 2 votes

Hi everyone! I’m a first-time real estate investor and have been actively researching and analyzing properties. I’d love some guidance from those with experience.

How many real estate agents and lenders did you interview before choosing one? What were the key things you looked for?

I’m also planning to self-manage my first property to really learn the ins and outs before eventually hiring a property manager. For those who’ve self-managed especially out of state, what has your experience been like?

Any advice or recommendations would be greatly appreciated. Thank you!

0 Reply

190 views

5 Replies

Jump to latestLatest

Sort by

Greg ScottPro Member
Rental Property Investor · SE Michigan · Member since 2014 · 4k+ posts · 6k+ votes
6mo
Congrats on your first property!
At this stage of your investing, keep learning. Read, listen, study, network, meet, absorb.
And what may seem a contradiction, I recommend you reconsider self-managing from afar. If you were local, I would have a different opinion.
Will you learn some things while remote-managing? Yes. My fear is that you will learn that some tenants are compulsive liars and you can easily lose a lot of money in real estate. Burned once, most people never invest again. Make your first deal a success and hire a quality property manager. You can also learn from observing what they do. After a year or two, you can always take over self-management.
0 Reply
Arman AhmedPro Member
Real Estate Agent · Columbus Cleveland Dayton, OH · Member since 2024 · 2k+ posts · 956 votes
6mo
Quote from @Elizabeth Jimenez:

Hi everyone! I’m a first-time real estate investor and have been actively researching and analyzing properties. I’d love some guidance from those with experience.

How many real estate agents and lenders did you interview before choosing one? What were the key things you looked for?

I’m also planning to self-manage my first property to really learn the ins and outs before eventually hiring a property manager. For those who’ve self-managed especially out of state, what has your experience been like?

Any advice or recommendations would be greatly appreciated. Thank you!

You’re asking the right questions early, which is a great sign. Most investors talk with a few agents and lenders until they find people who actually understand investor numbers, move quickly, and know rentals, not just retail home sales. Self-managing can teach you a lot, but out-of-state, it can become time-consuming fast, especially with maintenance and tenant issues, so having strong local vendors is key. Many investors self-manage at first to learn, then transition once they know the process. Also worth comparing are nearby Midwest markets, where a lot of first-time investors find easier entry points and solid cash flow while building experience.
[email protected]614-418-6081
0 Reply
Drew SygitBusiness Member
Property Manager · Royal Oak, MI · Member since 2012 · 12k+ posts · 9k+ votes
5mo
Quote from @Elizabeth Jimenez:

Hi everyone! I’m a first-time real estate investor and have been actively researching and analyzing properties. I’d love some guidance from those with experience.

How many real estate agents and lenders did you interview before choosing one? What were the key things you looked for?

I’m also planning to self-manage my first property to really learn the ins and outs before eventually hiring a property manager. For those who’ve self-managed especially out of state, what has your experience been like?

Any advice or recommendations would be greatly appreciated. Thank you!

You can remote manage a Class A rental maybe Class B.
Trying to remote manage a Class C rental with ZERO experience will be an expensive way to learn.
[email protected]248-209-6824
Logical Property Management4.9460 Reviews
Website View Page
0 Reply
Joel Miller
Member since 2011 · 152 posts · 113 votes
5mo
Seek out and get involved with whatever local landlord/investor groups. Go to their meetings. Take their classes. You will meet many people doing the same thing (or who have already done all the same things). It's the best way to avoid having to figure everything out yourself.
0 Reply
Kerry Noble JrPro Member
Investor · Indianapolis, IN · Member since 2018 · 2k+ posts · 1k+ votes
5mo
I helped several OOS investors self manage. would love to bring you value
0 Reply

Join the conversationCreate a free account to reply, vote on answers and follow this thread.