All Forum Posts by: Stephen Krzyzak

My properties in the C neighborhoods typically average 2.5 years.  The properties I own in D neighborhoods average about 5 years.

@Zach Hoereth, I have worked with four different property managers in the 6 years I have been investing.  I am happy with my current property manager, however, there are some bad property managers out there.

@Nicholas Earls I am a current oos investor, I have been investing in Indy for the last 6 years.  

Typically I have my handy man get involved if there is a large repair item that needs to be addressed or on a turn.  The property manager will handle the small issues when the property is tenanted.  

I agree with Frank's suggestion on this.  You really need to have the properties for a few years, to stabilize the properties and team before you can be hands off.  For me, I learn by doing, so I  went through 3 property managers and a few  handy men until I finally feel comfortable enough to take my eyes off the investments for a while. 

Going through my experience of being an OOS investor, these are the things I recommend you prepare to handle when you leave the country.

1.  Make sure you have a reserve set in case you have a large maintenance issue come up or a turn that needs to be done.

2.  See if you can secure the service of a handyman that you trust.  You will need boots on the ground to keep your property managers honest.  If you do not have someone like this, you could possibly be taken advantage of, especially if the property manager knows you are out of the country.

3.Buy a good property in an upscale area.  These types of tenants typically less high maintenance than the other side of the spectrum.

Good Luck!!!

It has been a while since I have purchased SFR properties in Indianapolis, so I am not to tuned into the turnkey market. However, if your search comes up empty, you can always contact property managers and ask if they have any owners looking to sell. It's not a coincidence that many larger property management companies have realtors on staff.

Also, you can sign up for some wholesaler's mailing list, I've found a few deals in those.

I researched Christian Park when I was deciding which neighborhood to purchase rental properties in several years ago.  I liked the Christian Park Neighborhood.  I tend to like being in the blue collar areas for cash flow reasons.  I also like the proximity of that area to the Irvington area as well as the Emerson Heights neighborhood, which I feel are trending upwards.  

@Olu Efunwoye, I typically do not like posting about particular companies on a public forum.  However, I see how my experiences could be useful so others do not duplicate the same mistakes I made.  I will respond to any private message I receive with the names of the property managers I have used and my assessment of each.

When I need work done on my rental properties, the best contractor leads I get tend to be references from other investors.  It makes sense, if other successful investors have used these contractors and are willing to recommend them, they usually are good.

@Kyle Neff I am not investing in Cincy at this time.  I have my rental properties in Indianapolis.  

I was in a similar situation several years ago.  I was living in Chicago and really could not afford a substantial down payment to really cash flow in that market.  I decided to move my money to Indianapolis for the following reasons

1.  The economic development group in Indianapolis is aggressive.  This can be seen recently with how competitive Indianapolis was for Amazon HQ2.

2.  There is a good balance between blue and white collar jobs in Indianapolis.  Losing 1 company that calls the city home will not cripple the Indianapolis economy.

3. There are plenty of property managers to choose from, being an out of state investor, that is important.

4.  Housing prices were low and rents allowed substantial cash flow.  

I have been an out of state investor in Indianapolis for several years.  I am pleased with the cash flow and appreciation that I have realized.  If you do your research and decide you want to explore Indianapolis further, I can recommend you to some people to help you get started.