All Forum Posts by: Nicole Hoss

Welcome, @Andrew Humphries! Looks like you will have a lot of good resources right there in SA if you're wanting to stay local. I have found success investing in out of state turnkey properties. I simply don't have the time to do anything local and turnkey is not an option where I live. Happy to connect if you'd like to discuss further!

@Daniel Mendez Get to really know the TK providers in the area you are looking to invest in. Whenever possible, I recommend a visit to the area and set up meetings with the companies you have narrowed down your search to. If travel isn't possible, and it's not possible for a lot of people, get on the phone. Make connections that way. Check BP, BBB, Google... all great avenues to check their reliability. 

@Alejandro Hayden Hi! I suppose fee structures are different across the country, but where I invest in Indianapolis, it’s typical to pay lease up fees, a renewal fee, and 10% PM fee. The extra charge for leading up and renewal is because the lease up agents are sometimes contract employees and this is how they get paid. The 10% management fee goes to the PM company each month to oversee your property. Those other fees you listed must be something maybe a national company charges? I haven’t seen those fees with any of the PMs I’ve worked with in Indy.

@Kyle McCorkel Agreed! I even tried to BRRRR OOS in a market I knew with contractors I had spent a lot of time with and it still didn't work. OOS TK is my best bet.

@Evan Wiesner @Polly Feeney I live in Des Moines and I definitely agree that it's a great place to BRRR. NOT a great place to own turnkey, which is why I don't invest here and invest in TK in Indianapolis. Urbandale would be a good place here to start. Lots of opportunities. One issue with OOS investing here is that it's not very easy to fly in and out of. And a flight can be pricy. But, if you can fly out just a couple times to establish your team that you fully trust, then you won't have to make the trip very often.

@Jason Malabute I would also say to visit the town in which you are looking to invest. A flight and 1 night's hotel into Indy is not very expensive in the grand scheme of things. Spend a day and meet with multiple people. However, you never identified whether you are looking to BRRR or go the TK route. That decision has a lot of to with how much time, energy, resources, etc. you have to dedicate to the process. For us, TK is the only way we'll continue to invest OOS. I simply don't have the hours to commit to managing a rehab from far away. But that's me.

Welcome to BP, @Nicole Benton! I've been OOS investing in Indy for about 3 years and have found success. 

@Michinori Kaneko I use our HELOC to purchase properties in cash and then do a cash out refi to pay back a portion of my HELOC loan. So I do both and take all the tax advantages that my accountant can find for me. Also, the TK properties I purchase are pretty low priced in Indy and I can still make it all cash flow very nicely.

Hi, @Michael LaRocca! Glad to see you're doing your due diligence. :)

Hi, @Alana Nevares! I invest OOS in Indy in the "rough" areas (although I feel completely safe when I visit the areas). What I have found is that a single family is going to have more stability than a multi. In fact, I think that holds true no matter where you're investing. I like the 70/30 model of SFH/Multi in Indianapolis. Let me know if you'd like to discuss further. And good luck!