All Forum Posts by: Kenny Hall

@Jon Benson hi! I’m excited for you to get started in Indy!

Some common mistakes to avoid:

1. Not budgeting enough for repairs and maintenance. Even a newer home or home with a clean inspection will have several maintenance items, especially after a new move in while the new tenant becomes accustomed to the home. Maintenance costs have gone up over the last few years so be prepared for early costs and likely costs that are higher than you may expect. A good property management partner should be negotiating with their vendors to get their clients a good rate, but also balancing quality vendors doing the work so you don’t continue to have the same repairs needed over and over again. Pay for what you get rings true with the contractor world, and that goes for those contractors that charge too much and claim they’re the best. Find and build a good relationship with your PM and they’ll manage this well for you.

2. Depending on your deal and goal, cashflow is not the only benefit to owning a rental property and can lead to investors not investing in good opportunities. There are four key ways to make money on a rental: Tenants pay rent giving you mortgage pay down, tax depreciation, appreciation of the home, and finally cashflow. When looking at all four of these, you achieve total return.

3. While it’s difficult to find strong cashflow in this market today, some have found section 8 to help hedge this with government higher than market rent rates. This is nice for the deal underwriting, but be sure to increase your maintenance budget as these rentals are typically higher in maintenance.

4. Interview your property manager well. Have multiple interviews with different PMs. Each has their own unique approach, fee structure and speciality that will resonate with you. At the end of the day, it’s a partnership and should be treated that way rather than you becoming another door count to their management portfolio.

Happy to help and share more as you start your journey! Don’t hesitate to reach out directly.

@Jon Hulen hi! I’d be happy to chat with you and connect you with some investor friendly agents. Shoot me DM and we’ll chat!

@Jonah Slove Indy is a great spot to expand your portfolio! I’d be happy to run rental rates and help analyze neighborhoods for you. Indy can be very street to street instead of zip to zip. Happy to connect you with some solid agents and contractors too. Would love to connect!

@Rom Flayshman hey Rom! I’ve made some good connections over the years, happy to help make some intros. I’d love to hear more about your goals for these investments so I can help make the best intro. Shoot me a DM and we’ll chat!

@Anya Swanson hi Anya! Indianapolis is a very forgiving market for long term holds. Neighborhoods continue to be developed and improved, jobs and commercial development continues to be a major focus for the city. Feel free to reach out with questions about the city or confirming rental rates. I’d be happy to help! Best!

@Alex Torres hey Alex! I’d be happy to chat with you about your purchase and make intros as needed as you build your team. Shoot me a DM!

@Filippo Seracini highly recommend Linx Outdoors

@Ryan Treacy hey Ryan! Find and placing a new tenant is arguably the most important part of the rental property’s lifecycle. Set a screening criteria (600+ credit score, 3x rent for income, clean background check, this is common or something similar). Once the property is ready to market, bring out of state, I’d recommend a licensed agent take photos and list the property. They’ll funnel through the leads, show the property and encourage them to apply. They’ll present qualified apps to you and you’ll sign off. You can send the lease to be signed or have the agent sign on your behalf. Make sure the prospective tenant understands who will be managing the property moving forward after move in. Typical costs for a service like this is between 50-100% of one month’s rent depending on the rental amount. I’d be happy to intro you to a few leasing agents if needed. Best of luck!!

@Alyssa Abegg-Garcia hi Alyssa! Hope your investment journey is starting out well! Feel free to shoot me a message as you look to confirm rental rates in Indy or need help analyzing a property. Best of luck!

@Jackie Liu hey Jackie! Sorry to hear about the needed eviction. Comes with the territory from time to time. Feel free to reach out and can help guide on this and make necessary intros as needed.