All Forum Posts by: Ryan Rominger

Congrats on that first duplex! That’s a huge milestone, and doing it with 5% down on an owner-occupied deal was a smart entry move.

The DTI challenge is a very real one, especially for newer investors juggling a mortgage and student debt. Lenders weigh that ratio heavily for conventional loans, so yes — that can limit your options on paper, even if you're managing payments just fine in real life.

Here’s what I’ve seen others in similar situations do:

1. Look into DSCR loans — they’re not based on your personal income or debt but on the income potential of the rental itself. The terms are different (higher rates, more down), but for cash-flowing turnkey rentals, it could get you back in the game without waiting years to pay off loans.

2. Partnering up — you might not want to do this long-term, but sometimes investors team up with someone who has the DTI room or liquidity, and they structure the deal to share equity or returns. Just make sure the partnership is clearly documented.

3. Seller financing or creative structuring — not super common, but in certain markets or situations (especially if you’re buying from other investors), you can negotiate terms that don’t require traditional financing. Worth exploring if you're open to off-market leads.

That said, if your student loans are high-interest and you're feeling stretched, it’s also okay to pause and stabilize a bit. Building wealth through real estate is a long game — and you’ve already got a great start with that duplex.

You're right, Will. the deals are out there, but it takes a lot more than just hunting Zillow listings. In markets like Indy, the numbers can work well for BRRRR, but only if you're conservative on rehab estimates, careful with area selection, and realistic about timelines and financing. That last part tends to get glossed over online.

One thing we see often with out-of-state investors is that success comes down to having a clear, boots-on-the-ground team early — not just after the deal’s locked up. That means lining up your property manager, contractor, and lender before you’re under contract so you’re not scrambling mid-deal or after closing. It also gives you way more confidence when you're running numbers remotely.

If you're new to the BRRRR strategy and looking to get started in Indianapolis, we work with buyers and sellers every day who are navigating their first (or next) BRRRR deal.

We know how overwhelming it can be: running the numbers, figuring out the right areas, vetting contractors, and understanding how to exit into DSCR or conventional financing. That's where we come in.

As a local team with experience in both real estate and property management, we help you find properties that actually make sense for BRRRR — not just what's listed, but what will cash flow, appraise, and rent well in this market. We can also connect you with local lenders, trades, and PM support if you're out of state and need eyes on the ground.

Whether you’re looking to buy your first investment property or reposition one to sell, we’re happy to walk you through next steps and share insight from the local frontlines.

Send me a message if you're looking for:

• A local agent who understands BRRRR strategy from start to finish

• Help sourcing real opportunities in Indy

• Guidance on numbers, rehab estimates, or neighborhood fit

• Connections to reliable vendors and financing options

Happy to chat and help you move forward with clarity.

DSCR loans are often a great option for foreign investors using the BRRRR strategy since they're based on the property's income, not your personal income or residency. However, private or hard money loans can make more sense at the start, especially if the property needs major rehab or isn't rent-ready. They're faster to close and more flexible with unconventional deals. Once the property is renovated and leased, you can refinance into a DSCR loan for better long-term terms. In most BRRRR cases, private or hard money is best for acquisition, and DSCR is used for the refinance.

I primarily operate in the Business category as a property manager and realtor, working directly with investors and handling the day-to-day operations that support their portfolios.

I’ve found that being in both roles gives valuable perspective—you understand not just how deals pencil out, but how they actually perform over time. Long-term, I’m also exploring ways to diversify into more "passive" positions, especially as a way to build income without having to manage everything personally.

$159K for 128 sqft is steep, even in a tourist spot. These micro-units can work, but only if the numbers make sense. Look closely at actual short-term rental comps—what similar units are truly booking for, not just asking prices. Then factor in occupancy rates, seasonality, and all expenses like cleaning, taxes, insurance, and potential HOA fees. Also double-check the local short-term rental laws—some beach towns have restrictions that could limit your ability to rent it out.

If this unit only makes good income a few weeks a year, your margins might be too tight to justify the cost. Repairs, vacancy, or changes in demand can quickly eat into profits. Unless it cash flows realistically and fits your long-term goals, it could end up being exactly what you called it: an expensive toolbox.

If you’re leaning in, make sure you’ve got conservative projections, a backup plan, and an exit strategy.

Hey Sophia! Your drive and curiosity this early on can really pay off if you stay consistent and focused over time. It’s normal to feel stuck when you’re just starting out especially with a lot of information to filter.

Since you’re living at home and have very few expenses, this is actually a great time to start preparing. Use this window to build your savings, clean up or build credit, and really focus on learning how deals are structured and what makes them profitable. Once you have built up a safety net, you can try looking into deals or property costs to understand the cost of what you're getting into. 

As for starting out, house hacking is one of the most realistic entry points, especially if you’re open to living in the property. You could buy a small multi-unit or a single-family home with extra bedrooms, rent part of it out, and live in one unit to offset your costs. That gives you experience as a landlord without fully leaving your job yet. When done right, it can ease you into managing tenants, understanding maintenance, and learning how to cash flow. 

If becoming a licensed agent is something you’re open to, it could absolutely help you get your foot in the door. It’s not required to be an investor, but it can give you access to deals faster, help you understand contracts and negotiations, and build a network of other professionals. Even if you don’t want to be a full-time agent long term, the experience can help you think more strategically as an investor.

More than anything, don’t worry about doing everything at once. Start small: run deal analyses daily, go to local real estate meetups, talk to lenders just to understand what they look for, and maybe shadow or work for someone in the industry to see how it all plays out in real life. There’s no perfect starting point—just small actions that compound over time.

Also, when the time comes to take on a property, make sure you have someone trustworthy helping you evaluate it. A lot of first-time investors get stuck with high-maintenance properties or unrealistic rehab expectations. You don’t need to move fast—you just need to move smart. Stay curious, stay patient, and keep putting yourself in rooms where you can learn.

Really appreciate how thoughtfully you’re approaching all of this. It’s clear you’ve invested time into learning the landscape, and you’re not rushing into anything.

Since your husband is more risk-averse and prefers not to take on debt or landlord responsibilities, it's smart to approach this with clear boundaries. One of the most important things—possibly more important than the strategy itself—is making sure you and your partner are aligned on the vision. Even if you’re the one taking the lead, being on the same page about long-term goals, risk tolerance, and asset protection will prevent conflict later on. Real estate works best when it’s a team decision, even if one partner is more hands-on.

That said, starting small and staying in control is a great way to ease into it. You might consider a single-family rental in a stable, landlord-friendly market like Indianapolis. It allows you to apply everything you've learned with relatively low risk. If you're eligible for a VA loan, house hacking a small multi-unit could be another option—letting you live in one unit while renting out the others, learning property management in real time, and avoiding PMI with owner-occupant financing.

If you're purchasing on your own, an LLC could help with asset protection, though you'll still likely be underwritten based on personal income for most loans unless you go fully commercial. You might also look at partnerships—where you bring the knowledge and oversight, and someone else brings capital. It's not a fast path, but it's how a lot of cautious investors get started without overextending themselves.

And since your husband isn’t looking to be involved in management, professional property management will be key. A reliable PM can help protect your time, your investment, and your peace of mind—especially in an out-of-state market. Vet them thoroughly and treat them like an extension of your team.

It’s clear you’re not doing this just for quick gains. You’re thinking long-term: about future flexibility, supporting your kids, and providing stable housing. That clarity is a huge asset. When you're ready for that first step, the goal doesn’t have to be big returns right away—it can simply be gaining experience and building a strong foundation.

Welcome to BP!

At your age, the best thing you can do is stack knowledge and relationships now, and then move forward strategically and conservatively once you have income, credit, and some capital to work with. 

You can start with house-hacking (if you can and able to). If you can buy a small multi-family or even rent out rooms, you're learning how to manage people, property, and problems—all while living there. FHA loans or first-time buyer programs (once you're eligible) can help reduce upfront cost.

You'll hear a lot about BRRRR, creative financing, and "no money down" deals. These can work, but they also come with risk and complexity, especially early on. Many investors get stuck or overleveraged when they try to move too fast.

Instead:

• Focus on doing one solid deal at a time.

• Don’t chase “fast”—chase repeatable and sustainable.

• Build relationships with lenders, agents, contractors now, even if you're not ready to buy yet.
  
  
  Lenders want to see stability. So even a steady job, side hustle income, or responsible credit use will help position you to buy. And while you’re doing that, keep learning—but also start taking small action: networking, analyzing deals, helping other investors, even just showing up.