All Forum Posts by: Ryan Rominger

Hey Camilo, welcome! You're spot on — the demand around Indy has been wild lately. Inventory's definitely tight, and new builds can't come fast enough. Always great to see more passionate folks getting involved around here!

For seller financing, it’s important to have a clear agreement in place, including the interest rate, repayment terms, and any contingencies. Since you're working with family, it can be a little more flexible, but still ensure everything is documented properly. As for an attorney or CPA, I'd recommend finding someone with experience in real estate transactions, especially seller financing and rental properties. Nashville has several who specialize in this, so getting a local referral from a trusted agent or investor group can help. Also, keep in mind you’ll want to verify the rental income is treated appropriately for tax purposes. Good luck with the next steps!

Hey! That's awesome you're diving into real estate so early. With an FHA loan, you can absolutely buy a primary residence and rent out the other rooms—it's a smart way to start. Once you're 18 and have steady income and credit, you'll be eligible to apply. I'd suggest looking at small multi-family homes (like a duplex or triplex) if your area allows it—great for house hacking and learning the ropes. Also, getting some hands-on experience by connecting with local investors or shadowing property managers can be a game changer. Keep that passion alive—there's definitely room for young people in this space.

Sounds like you have a solid plan and the right mindset for scaling with BRRRR. You're right that 5+ unit properties benefit from commercial appraisals based on income, which can help with forced appreciation through rent increases and improvements. That said, deal flow in strong markets like Indy can be tight, so expanding your search to Ohio makes sense—Columbus, in particular, has strong population growth and diverse employers.

If your main goal is replacing salaries within four years, focusing on stable cash-flowing properties (even if they’re smaller) might help you scale faster rather than waiting on the perfect 5+ unit deal. The Midwest generally has good affordability, but make sure you’re buying in areas with rental demand and economic stability. You might also consider creative financing or partnerships to stretch your capital further.

Property taxes definitely play a big role in investment decisions, but they’re just one piece of the puzzle. While Oklahoma has lower property taxes than Texas, other factors like insurance costs, rent growth, job markets, and landlord-friendly laws also come into play. Texas, for example, has no state income tax and strong population growth, which can drive higher rents and property appreciation.

A lower property tax state like Oklahoma might seem better for cash flow, but if appreciation and demand are stronger in Texas, the long-term returns could still be worth it. It really depends on your investment strategy—cash flow vs. appreciation vs. overall market stability.

Thank you!

That’s an exciting project! With 2 acres, you’ve got some flexibility in how you design the quadplex and any future units. One-story vs. two-story depends on your target tenants—single-story can be more accessible for seniors, while two-story may allow for a more compact footprint and larger yard space.

For layout, open-concept designs with 2-3 bed, 2 bath units tend to attract long-term renters. Parking is another key consideration—make sure there’s enough space for tenants.

On the management side, tools like Buildium or AppFolio can help track rent payments, maintenance, and tenant communication. Also, setting up clear tenant screening criteria early on will save you headaches down the road.

Scaling your portfolio this way is a great long-term strategy—excited to see how it comes together

Congrats on hitting the $1M mark—that's an awesome accomplishment! Given your solid financial position, leveraging your investments to acquire rental properties without liquidating could be a smart move. You might want to consider using a margin loan or a home equity line of credit (HELOC) against your index fund holdings, but make sure you're comfortable with the risks and interest rates associated with these options.

As for real estate, New Jersey can be pricey, but house hacking or a duplex could still make sense depending on the area’s rental demand and your long-term goals. If you’re looking for more affordable options, exploring nearby states like Pennsylvania could offer better cash flow potential. Just make sure to research local markets thoroughly and connect with an agent familiar with those areas to maximize your return on investment. It sounds like you’re in a good position to make strategic moves when the time is right!

Hey Evan! It's awesome that you're ready to dive in. The BRRRR method is definitely a great way to build long-term wealth, but starting can feel overwhelming. First, focus on finding properties in areas with solid rental demand and potential for appreciation. A good place to start is local MLS listings, off-market deals, or working with wholesalers who can bring you opportunities.

Since you’re open to renovations, connect with reliable contractors early on. The renovation part can make or break a deal, so having a strong team is crucial. Also, don’t forget to build a network of other investors, real estate agents, and property managers who can share local insights and potentially point you to good deals. Stay patient and take it step by step—finding the right property will come!

Beech Grove is a great area for rental properties, and I’d be happy to help you with the sale. We can connect with investor buyers who are looking for solid opportunities in that neighborhood. Let me know how you'd like to proceed, and we can discuss the next steps!