All Forum Posts by: Dustin Cook

I am interviewing property managers in Indianapolis.  Has anyone used RPM in Indy?  I just spoke with RPM today, and the interview went well.  They charge 10%, and a leasing fee of $595.  They offer a 29 day guarantee against vacancy, they allow you to back out of your contract with them before 60 days, and some other guarantees.  The Yelp reviews are all 5 stars.  I was hoping I could get some feedback on others experiences before I make my decision.  Thanks.

Unless you feel comfortable finding a deal like this yourself and doing the rehab yourself I'm not sure why it matters what they paid for it.  They deserve to make money if they have done a good job getting it ready to sell it to you turnkey.  My concerns would be that the rehab was done well, that it's in a good neighborhood, that the appraisal comes in at sales price, that I have good property management and have a solid leveraged cash on cash return.

I'm am heading out to Indianapolis soon. I have put an investment property under contract for $122K, and will be looking to do a 1031 exchange after it closes in a week, or two. I am going to visit a couple of turnkey providers, PARC and Maverick. I would also like to visit one or two others who can show me around the MLS or any other leads, and definitely want a reputable property manager that I can discuss any potential properties I may be considering including talk about neighborhoods and potential rental pricing.

Typically you will need 20% down for single family and 25% down for multifamily for buy and hold investment properties.

I am planning to invest out of state in buy and hold rentals, because I'm in Los Angeles.  I'm a subscriber to neighborhood scout and I was wondering how everyone else is using this tool.  So far the main things I'm giving weight to are vacancy, school rating and crime rating.  It seems like they narrow the results down to a small radius, so I am curious to how everyone uses this site and how accurate you feel it is.  I know these online tools, zillow, rentometer, neighborhood scout, etc need to be taken with a grain of salt, but I'd like to use them when appropriate.

Has anyone done business or know anything about Spouses Buying Houses in Indianapolis?  I have been talking to Lee Smith, head of the company and I am considering doing business with him.  I would love to hear any experience any of you have.

http://spousesbuyinghouses.com

 Hi Mansoor, right now we are focussed on single family, but I appreciate that.

yes, looking turnkey SFR