I’ve gotten a lot of feedback from other investors interested in the Indianapolis market, so I figured I’d share my search experience thus far with everyone. Although I haven't officially hired anyone and I'm still doing my due diligence, I’ve interviewed 2 potential property management companies thus far: Harvey Property Management Group and LIV Indy.
I’ll start with @Harvey Levin . Harvey spoke to me personally after reaching out on BP when he saw my blog post. He spent over 2 hours on a call sharing his vast amount knowledge based on his experiences, being a property manager and investor himself in the Indianapolis market for over 30 years. He was very forth coming with his information about exactly what to expect from his services and gave a lot of personal anecdotes about his experiences. As stated by @Zach Hoereth earlier, his niche is section 8 tenants in C-class neighbourhoods in single family and duplex properties, although he does work with other properties such as B-class areas as well. I was able to ask my long list of Bigger Pockets crafted interview questions and he answered them all to satisfaction without hesitation or objection. I got a really good vibe about his professionalism and although he did note that he is more on the expensive side, I think the services he provides and his reputation of being one of the best in the market warrant the premium.
LIV Indy was also a great interview, although largely different than Harvey Property Management Group. Whereas Harvey has upwards of 350 units under management, LIV Indy fancy’s themselves as more of a smaller, 1-1 boutique management company that is based on an intimate relationship between landlord and property manager. I spoke with the Owner and Managing Director, Matt and Sam; they touted their own investor knowledge in the area having grown up in Indianapolis and they spoke highly of their strong network that is available for all your needs. They tend to work in more established neighbourhoods that are safer with a good, reliable tenant pool and they are a newer management group that is younger and well connected to the area today, using a lot of the latest technology to assess opportunities. They too answered my laundry list of questions to great satisfaction and I got a great vibe from them and left feeling like they had a strong sense of the Indianapolis market, having been long time investors there as well.
I have not hired either as of yet, as I am still in the research phase; so far either company seems like a great bet to meet your needs depending on what you’re looking for. I will continue conducting my research but I hope this helps in the mean time!
