All Forum Posts by: Tyler Lingle

What would you say are the most important traits an investor-friendly agent should have? What would you look for in an agent as an investor? 

The absolute best may not have 300 units. Why? 
Because a lot of PM companies are TERRIBLE at scaling and service drops dramatically with unit rise. I've found this to be the case in Indy. I won't name names. 
Check out Intrigue Indy or Liv Indy. Both are boutique level service and scaling well. They are at around 200 units. I use them for my own investments and refer my investor clients to them. Their rate is 10% (both). 

Homeroom (LiveHomeroom.com) actually specializes in this (Co-Living Model). I work as their Lead Indy agent. 
If you want, I would consider chatting with them on some of these questions or even if it makes sense for them to help you manage it!

For utilities, if you just bought it, reach out to the previous owner or agent and ask what typical utilities were running per month, then expect 25-50% more. Also, are you providing wifi? I would average out the utility costs and charge a flat rate. You can set the thermostat to a safe normal temperature year-round. Say 70 degrees, to make sure it's not abused. If you search "Boarding house" or "Co-living lease" I'm sure you can find some good examples or at least get some ideas! 

Hope this helps! 

I would concur with @Austin Coon on Intrigue Indy! I actually worked for them for a bit and can connect you to the owner!

Hey Maxwell, I am setting up my first Airbnb in the Irvington / Christian Park area right now. I've analyzed the East side pretty thoroughly to do my due diligence. I'm an open book!

Hey Ethan, I would also second Vestmaps.com. Although I also think having a good person with sights on the ground who frequents these neighborhoods is key. Statistics are important; but having a presence and understanding of the "talk of the town" is huge too. For example, the Mayor is pouring millions of dollars into the Twin Aire market where the new Community Justice Complex is going - improved running path, green spaces, improved infrastructure - and this is something I've learned from networking with those with a pulse on local government and biz. 

I would suggest Fountain Square, Mapleton Fall Creek, Crown Hill, Irvington, Community Heights, Garfield Park. Most of those Indy neighborhoods cash flow and will also appreciate a lot here in the coming years given other markets that had their same trajectory. I'd also be happy to chat further!

Hi Adam, I wanted to comment here because I've had the opportunity to represent a few doctors / physicians from out of state myself in Indy deals - both SFR and Multifamily. If you want a good lay of the land in terms of price points, rents, and neighborhoods / sub-markets I'd be happy to chat!

Curious to see what people say! I use Google Sheets myself and use the Property Manager's Ledger's etc to track profits but that's not the greatest. Would be great to have a one pager to see the overall cash flow, profits, expenses, etc. 

Just put my first offer in using Seller Financing. I have a feeling it's going to get more use as this bear market approaches...

Here's the terms we put in: 
We ran it at $10,000 down. Monthly payment of $1000 with $500 going to principle and $500 to interest. Balloon payment in 5 years to cover the rest. The purchase price of the duplex is $200,000 and the rents are $1600 gross. 

I'd be interested to hear any feedback and what terms are your preference?