All Forum Posts by: Justin Polston

Good morning everyone! Hope your day's off to a fantastic start!

Right to it - even if you are satisfied with your current PM, what don't you like? What would you change?

If you have the 1 in 100 rockstar, what are they doing to keep you satisfied?

Any terrible stories that made you switch? What are some things you feel like you "put up with" but really hate?

Please be specific if possible, i.e. saying "we get monthly updates, someone gets back with us same day," versus just, "communication has been great."

Backdrop:

I'm in charge of the PM arm of our brokerage, and have gone from 12 to 70+ units in under 12 months, commercial and residential (we've placed bars, PNC recently had us take over some space in their building from JLL - things are going fast and furious).

@Jess Wood Congratulations on mentally being ready to pull that trigger! And if you end up going the Indy route, I can help with just about anything! Lived just outside Indy all my life, and most of the good areas are in the donut counties around Indy. We always suggest people invest outside the belt at least.

Good luck!

@Joanne Kim I would start looking outside the belt and in the donut counties (those surrounding Marion). Think Shelbyville, Greenwood, Greenfield, Fishers, Franklin...

You might try Mackenzie Allen. They do full service management from providing turnkey, to providing work for your already purchased investment property.

Www.GoMackenzieAllen.com

@Miles Z. Sterrett Hey! I love it when a plan comes together! Congrats!

You mentioned rural. I'm down here in Shebyville and have been investing for a long time (bought two houses in high school). Also started buying commercial personally - put my brokerage in one and rented space to a title company and lender. So definitely relate to what you're doing.

Anyway, happy to show you around if youre ever interested. We have a lot of growth! City has approved a $19M budget for downtown renovations. Pretty exciting stuff, I feel like no matter where you're at in Indy, there is good happening!

@Michael Nance that license will be valuable! I started the same way - investor turned realtor. It'll help personally, and if you enjoy housing in general, being a realtor is a pretty fun too!

Good luck!

@Brian Dvorak on site managers with no obligation themselves to pay rent rarely works out. Factor in your normal due diligence costs and see if it makes sense in case of canning the guy.

@Jason Ma the one thing a CEO does best is makes decisions and pulls the trigger, efficiently and accurately as possible. But the hardest thing is just pulling that trigger.

You're getting data overload too it sounds like. Best of luck.

@Maurice Blackledge in Indiana written leases are just as valid as verbal. After 10 days past due date, you can start the eviction process at the local courthouse. $80 is what it is here. Attorney rep through our system is $100. Problem solved. Make sure to include a "writ of removal"

@Victor Tatyanin Fishers, Danville, Franklin, Carmel, Westfield,Noblesville, Zionsville, New Palestine, Avon, Shelbyville, Southport, Greenwood (parts of). Some true suburbs of Indy might get you what you want quicker though.

@Simon Stahl

Being a realtor, doing more than a few deals a month, we have our fair share of crazy appraisers.

Educational point: you can argue value, make comp suggestions, etc, and the lender can send back for review, but appraiser might have a God complex or was just picked on in high school too much, and can veto it all without reason.

2/1 to 3/2 being only 4k...sounds like a trash appraisal.