All Forum Posts by: Gustavo Munoz Castro

Have a client that is buying a rental there. Who is a great property manager?

@Joel Owens, what is a good source to buy lists? I've heard of listsource, prospect now and exact data. I'm looking for duplex owners in the Indianapolis area.

Thanks @Lionel Li, some very good points, appreciate it.

@Thomas S. Great points. I'm looking to maximize cash flow so I agree that MFH is the way to go there. My only concern is that in Indy there may be other factors at play.

@Mark Radford I would love to get some duplexes in Greenwood, Brownsburg, etc. Prices look to be in the $150K-$200K range but monthly gross rents are probaly $2000+ so it still makes sense plus decent schools. I'm gonna keep looking for these but there are literally zero on the market right now. Let me know if you come across any! In Center Township I would love to buy around the gentrifying areas, fix a duplex up a bit and get some high-quality tenants in there.

Thanks for the reply @Russ Draper. Do you mean that I should look for higher ROI than 15%? What kind of property would you recommend? It makes sense that some maintenance will be lower in a multi since you fix both units at once for some stuff. Lower rents happen per unit but under a single roof the rents look very attractive.

Would love to hear from duplex owners what their thoughts are on holding them as rentals vs SFH? I hear that duplexes can take longer to rent and have higher turnover. On paper, the ROI looks awesome (15%+ ROI), but I'm wondering whether its fake due to the additional costs. Would love to hear what you awesome folks have to say.

Hey there folks. I took my first trip to Indy last week and had a blast. Met up with several folks from BP (TK providers, wholesalers and PM's. I'm loving the south/near East side of town to acquire rentals. My goal is to maximize my cashflow and Cash on Cash return. I'm torn as to whether to get a SFH or a duplex. The agents I spoke to all said that there are hardly any duplexes in town and that those that are are in terrible areas. Turns out there are tons of doubles all over the place, most built in the early 1900's and running some rough numbers they can get 15%+ ROI. Here are my thoughts:

Pros

1) High ROI

2) Less issues with vacancy once stabilized

Cons

1) Higher turnover, they are considered a lower end property it seems, most rentals are SFH's

2) Bigger repairs may creep up since they're mostly older properties

Rough numbers I'm seeing for these kinds of duplexes:

Purchase Price: $60K-$70K

Gross Rental Income: $1100 - $1300 per month

Taxes: $1-2K per year

Remodel costs: ~$20K-$30K (guessing here, these tend to not cost as much in Indy from what I hear)

I'll be back in Indy next week to keep visiting neighborhoods and looking at properties and hopefully get my first rental while I'm there.

I'd love to hear from other duplex owners in the area on their thoughts and whether they believe these numbers are realistic? What are your turnover costs? What do you think of duplex vs SFH in Indy when investing for cash flow?

@Ross Denman I just arrived in Indy, let me know if you can connect

@Neil Goradia just got here, would love to meet and chat

@Seth Teel great comments in this thread. Are there good areas to buy value-add multi family in San Antonio?

If any great San Antonio wholesalers are out there, please hit me up. Thx!