All Forum Posts by: Vincent DeLucia

I live and invest in Indianapolis, but I grew up in those areas and still have family in all three cities. Elkhart is very dependent on the RV industry -- so when that is good, the economy in the area is good, when the RV industry is down, the whole area is down. South Bend -- downtown is NOT in good shape right now, it has really gone downhill, but if you are in the outskirts/suburb areas, it is very nice. Ft. Wayne -- of those three areas, I would suggest going here. The city has put a lot into downtown development and everytime I visit up there, I see new areas that are improving and developing. I would also like to suggest Indianapolis as well, the reason I am investing here is because of the economic diversity. There is no shortage of jobs and my rentals have very low vacancy.

Sending you a request and a message, hoping to connect with an agent.

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Great breakdown and a good read for all of us. Well done and congrats!

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Looking for some insight in Elkhart, South Bend, and Fort Wayne Indiana. Any Realtors, Investors, or anyone who can provide some thoughts on the area please let me know.

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Thanks Mike! Appreciate the insight!

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Has anyone invested in this area previously or currently looking? Had a friend recommend the area but I do not know much about that part of Florida. Just curious.

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@Jorge Gonzalez Nice work man- Super cool property and even better numbers! Congrats!

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Quote from @Leo R.:

Quote from @Calvin Ozanick:

Quote from @Leo R.:

@Vincent DeLucia first and foremost, I wouldn't buy anything OOS that's lower than a B property in a B neighborhood.

We see lots of folks on the forums who are inexperienced who buy OOS in C or lower areas--they get lured in by the A-grade rehab on the property and the seemingly excellent cashflow, and then learn the hard way that it's not worth the small returns for a PM to put in the serious effort required to correctly manage a property in a C or lower area... the story is always the same: PM goes MIA, property sits vacant, when they do find a tenant the tenant stops paying, causes endless headaches, and eventually trashes the property... Now they have a trashed, crime magnet property that nobody will manage, that nobody wants to rent, and nobody wants to buy--all because it's in the wrong area.

Location, location, location.

Good luck out there!

This is 100% a reality. Managers who execute on these deals often sell the painted pig version of a home. I would speak to the general rule of this, buy properties you would live in. If you can see the value and quality in a unit, so will tenants. Just because tenants may want to pay less in rent does not mean they will be seeking out a slum.

One thing I will say is the specifics of what you listed above are the worst case scenario with a terrible property manager. I am sorry you got into this spot, and I wish you or whoever went down this road the best of luck going forward.

Definitely a worst case scenario, but I see people on the forums describing this type of scenario on a surprisingly frequent basis.

(Just to be clear, I've never personally experienced a situation like this, thankfully)...but, I've weathered my share of equally significant challenges. REI is a tough game, and setbacks are inevitable.

Likewise, I have not yet had this issue. Currently the investments I have are local, but the South Florida market is extremely pricey so was just curious as to some things to look at when making an OOS move.

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Is there a reason you specifically want to look in Crystal River? I assume it's because that is the city you are moving to? I have family up in that area (Pine Ridge) and I know the population isn't a big number. You may want to also look out into some surrounding areas as well. Ocala, Tampa, even Gainsville area where the University of Florida is located. Good luck!

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Thank you both for your input! @Leo R. and @Calvin Ozanick

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What are some checkpoints or data numbers you always look at when searching for an out of state market for rental properties? Crime rate, job growth, population, median income etc. Anything else that is a must to review?

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All Forum Posts by: Vincent DeLucia

Vincent DeLucia has started 8 posts and replied 21 times.

Post: Elkhart, South Bend, and Fort Wayne, Indiana

Post: Anatomy or a Multifamily Deal: 48 Units: 18 Months Buy to Refi.

Post: Elkhart, South Bend, and Fort Wayne, Indiana

Post: Any information on Sebring, Florida?

Post: Any information on Sebring, Florida?

Post: BRRRR Duplex in Dallas, Texas

Post: Checklist or data points to look at when choosing an out of state market?

Post: New in the STR game looking for properties in FLL/ Crystal River FL

Post: Checklist or data points to look at when choosing an out of state market?

Post: Checklist or data points to look at when choosing an out of state market?