All Forum Posts by: Matt Speer

Hi Kenneth, I own LIV Indy, which is a full service brokerage serving investor clients. We find deals, offer in house rehab management with our vendors, lease, manage and have a full sales team. All of our agents will look at any property with an investment lens. 

If you want to hop on a call, send me a private message and I'll share a link with you to schedule a time. 

Matt

Hi Fellow Indy BRRR-ers, I own and operate a brokerage in Indianapolis and we specialize in serving out of state (and in state) investors. We pride ourselves in our trustworthy process and accurate pro-formas. However, I’d like to hear about what areas are working best for the active investors in Indianapolis. What neighborhoods are consistently resulting in positive outcomes for you? What does a typical deal look like for you? Do you stay under a certain all-in number? How do typically analyze a deal? To best serve my clients and community with rock solid opportunities, I’d like to better understand the analysis and motivations from the investor’s eyes. Maybe then I’ll be able to finder greater opportunity for my clients! Lay it on me! I’d love to hear about specific deals!

Hi Tyler, I'd be happy to share my experience. 

I bought a house in Butler Tarkington for around $160k and immediately found 3 roommates to pay me $1,575/mo and I lived in the semi-finished basement area. The financials looked something like this: 

• P/I: $776
• Taxes: $250
• Insurance: $125
• Repairs/Maintenance: $100
• CapX: $100
• Property Mgmt: $0
• Vacancy: $0 
• Utilities (wifi, gas/water/sewer, electric): $240
• CF: -$16/mo 

Essentially, I was able to "live for free" after putting the whole deal together. Well that was just the beginning. I somehow was able to keep my vacancy at 0% while I put together a complete renovation of the house, going from a 3/1 to a 4/3 with a finished basement and an upgraded master suite for around $70k. All-in, I was at around $230k. The house today is worth around $305k about 2 years later. 

Looks good on paper, sure. If I could go back, I wouldn't have done the rehab with tenants in place. I also would have paid more for the rehab with a more experienced, efficient contractor. It caused more headaches than it was worth. But hey, at the end of the day, I got where I wanted to be - tax free equity and I reduced my largest month to month expense, my housing cost, to net $0. 

I hope this provides some insight. 

Matt

How far south are in in Butler Tarkington? My company manages numerous properties in the area, mostly north of 42nd street, with one being a tri-plex on the 3900 block of Central. We typically rent to urban professionals for above market rental rates. 

I live in northern BT with my fiancé. It's a complex market that's very street-to-street. A 4-bed on 42nd street could rent for as much as $2,100/mo while the same house on 40th street would rent for half that. 

I'm happy to provide any additional insight as you search for a property manager in the area. 

Hi Chris, I'd highly recommend Joseph Mattick, with 54th Street Appraisal Company. Joseph does quite a bit of work for my brokerage, LIV Indy. He's highly professional, reliable and overall a great guy to work with. 

I'll PM you his contact info. 

Thanks, 
Matt

@Ritch Bonisa Great side note about the potential for extra income during IMS events. 

Also, I'll echo your point about the need for having boots on the ground in the neighborhoods/areas you're interested in investing to ensure you don't get caught in a bad deal. Bildwise is a great example of a company who can handle the rehabs for out of state investors if you don't already have someone lined up. And a shameless plug for my company - we work with out of state investors looking for property management and leasing services. We offer a by the bedroom model that appeals to tenant groups who often pay 125-150% of market rent. However, this niche isn't always a fit with every property. 

Regardless of who you work with, having "boots on the ground" will allow you to pin point the neighborhoods that meet your goals. In areas like Speedway, this is vital since things can change drastically street to street. 

How big is your kitchen? Would it be possible to create a space like this that appears like it's a pantry but functions as your washer/dryer area? I implemented this in a rental recently and have received great feedback so far. Otherwise, if this isn't an option, I would have the same concern as you regarding the chance for frozen pipes, not to mention the inconvenience of having to go to a cold garage to do the laundry. Adding or moving washer/dryer lines isn't as expensive as one might assume, if there's a viable option elsewhere else in the house. 

Hope this helps! 

Hi Logan, I'm Matt Speer and I'm an investor agent in Indianapolis. I also own a property management company, as well. I've purchased 20 units myself or with partners in the past two years and also have a leasing model that achieves 125-150%+ of market rents. I have experience working with several out of state investors (San Francisco, Austin, Eugene OR, etc) and I'm sure they would be happy to act as a reference. 

Feel free to message/email/call me if you're interested in learning more about what I do. I'm eager to learn more about your goals and if there's alignment, look forward to working with you. 

Thanks,

Matt

Hi Jon,

I'm Matt Speer, founding broker of Liv. We are a property management company in Indianapolis who specialize in by the bedroom leasing to "the top 1% tenant". We typically see 125%-150%+ of market rent, which is our differientiator and competitive andvantage in the local market. It's been taking off like gangbusters and I'd be happy to set up a call and see how there's an opportunity to help you achieve success on your first deal in Indy. 

Thanks,

Matt 

Hi BP! 

I'm an investor in Indianapolis specializing in renting to young professionals or similar tenant groups by the bedroom. Since this is my niche, it allows me to hone in on just a handful of optimal neighborhoods within my model. 

I've been working for myself for almost a year now and things have really been taking off. However, when I've found deals it's been somewhat of a sporadic, clunky approach - I don't have a process. 

This month I'm committing much of my time to building out this process for my business. So here's my question... 

What have you done that's been successful? I'd prefer not to reinvent the wheel. 

Do you send direct mailers, have the courage to do door knocking, work with wholesalers, go to Sheriff's sales? I'm open to any and all recommendations! 

Also, if I can help you in any way, don't hesitate to ask!