All Forum Posts by: Carlos Quiros

Kanas City! Great mix of appreciation and cashflow. Happy to chat :)

Oh yes appreciation will come. 10 mile is a little far tho. That job site is unlike anything I've seen. Goes further than the eye can see.

I've lived here for 10 years and have bought properties here for the last 5 years. Send me a message if you have any questions about it specifically.  I have tons of contacts for realtors, contractors, wholesalers, prop manage, tree, lawn, trash haul, cleaning, you name it. 

 I try to buy stuff with foundation issues. You can typically get more money off on the deal than it costs to fix the issues

Here's some info but some of the Indy locals could offer more insight or have updated investor maps.

@Jaron Walling knows Indy well 

I favor the East Side (Christian Park, Grace Tuxedo Park, Brookside Park, Bosart Brown) and was told to avoid 38th and Post Road. The SFH I bought in March 2023 is in Christian Park. A lot of it is street by street and it's difficult to go just by zip codes. I don't know a lot about the West side but a couple of investors recommended avoiding Martindale-Brightwood. I also stay away from railroad tracks. Other options are if your property is close to hospitals and downtown you could do mid-term rentals to travel nurses

https://learn.roofstock.com/blog/indianapolis-housing-market

There are several videos on Indy on this channel:

https://www.youtube.com/@IndyInvestor

Here's another site.

https://lifeinindy.com/neighborhoods/

This video is 2 years old so some of the areas have shown a lot of development but still has good information: 

Hey Carlos,

I'm a bit north of you in the Central Coast and I invest heavily in Detroit.

In most markets it's difficult to find cash flow today if you're just plucking stuff from the MLS.

But in terms of your line items here is what I do...

Insurance I ballpark at $75/mo for a single-family house and $120/mo for a duplex. These numbers correlate well to my own portfolio as well as what I see other investors getting for theirs.

I glob maintenance/capex/vacancy into one line item and I assign 20% of gross rents. This is pretty conservative, especially considering most of our stuff we do off-market and then do an immediate cosmetic update. We update plumbing and electrical at this point if needed too. 

So I'm likely overestimating that line item but that's how I prefer to do it.

Management fee is generally 10% gross rents in my market.

Again, in Detroit all utilities are generally on the tenant. The outlier here is on multi-family stuff where there's usually just one water meter. So landlords generally cover that to keep things easy. That said, you can write something into the lease where you pay water up to a certain amount/month.

Happy to help more if I can. I know it can be super overwhelming!