All Forum Posts by: Jeff Schechter

Deals do exist, but you have to work harder to find them.  Inventory is tight right now.  

I might be a little biased, but why are you not working with a Turnkey company?

Hey @Reed Meyer  I'm Co-Founder of a TK company here in Indy... we've been at it 4 years, and have helped a lot of investors find nice cash-flowing properties.  Happy to help, if you give me an idea of what you're looking for.  

I think you're pretty high on your rent estimate.  That area is great, but has already turned, and you'll be paying top dollar to be in that area.  Likely not the best place to be if you're wanting good price-to-rent ratios.

I 2nd @Kerry Noble Jr's recommendations

Thank YOU, @Bryan Lyde.  We're glad it worked it out, and thank you for your kind words!

Unless you have a very large SFH, and can create floor plans that provide space, privacy, parking, and separate metering for both units, it's likely not worth the expense of the rehab. Individual units of duplexes in Indy have higher vacancy rates than SFH's. Likely because the rents aren't much different than a SFH. If you want a duplex, you're better off buying something that is already a duplex, already metered that way, and just rehab it to good rental standards.

Even though I'm the co-founder of a successful Turnkey company, I want to be honest with you. If you're wanting to go full time, you'd be best off getting your hands dirty, and doing a BRRRR. It's definitely MUCH more challenging and involved, but the education you'll get will be very valuable towards your full time goals. Good turnkey providers will put a great product in your hands, but you won't be involved in the process of acquiring, rehabbing, and tenanting.

We have some in Indianapolis....depends what you're looking for.

I'm co-founder of a successful Turnkey company in Indianapolis.  We were approached by Roofstock, and had no problems meeting their criteria.  And, they were insistent that they didn't want to raise the pricing of our products, but when we looked at the cost of listing with them, we would have had to raise our fees.  This of course, hurts the investor's overall returns.  They also were insistent on exclusivity... meaning if we listed a property with them, we could not even put it on our own website, or market it to our existing investor base.  Obviously, that did not work for us.  So, none of our properties will be available on Roofstock, or the other two you mentioned.

This is not to say you won't find good properties there.  You likely will, as they seem to have a good way to help investors find quality properties, but at the end of the day, all of the operations you mentioned are "marketplaces."  They are just another way for you to buy a property... and that comes with a price tag.

Whether it's us or anyone other Turnkey company, I'd encourage you to dig down two more layers...

- The next layer down are the "promoters" of turnkey, who don't actually buy/rehab the properties...they are merely marketing other's properties.  There are some great promoters out there, and they can help you find a good property, but they also take a cut (nobody wants to work for free).

- The next layer after that are the actual "providers" of turnkey, who take all the risk.  They buy and rehab the properties with their own money.  That's the layer where you're "buying direct," and where you'll likely see the best deals. Further, you'll be working with the team that is ultimately accountable to you directly.

Good luck!