PM Movement in Indianapolis

[Samuel Penrod]

If you are out of state investor and need help with your rental , or just recently lost your PM in Indy we would love to help with any issues you may currently be going through. Please feel free to message me if you have any questions or need eyes on some of your homes!!

[Harvey Levin]

The current PM situation in Indy is the worst I have ever seen in my 40 years in Real Estate. Including Oceanpoint and the latest problem, I am involved with Investors having similar problems with 3 other Property Managers. It is great that people ask for referrals on here but remember many of the Investors who post regularly have less than 2 years experience with Real Estate. Just because the past few months they have had good experience with a Contractor or a Manager or a Broker doesn't mean it is a good choice long term. Trust account abuse is very rampant. One glaring warning sign is if the PM doesn't require payment in advance for major repairs. That normally means they are floating YOUR funds held in trust (rents and security deposits must be held in a trust account if in a PM's possession )  to pay for someone other clients' repairs. Not many PM's can "loan" tens of thousands of dollars out to clients while they pay contractors. 

Do your due diligence by looking at at least 3 to 5 years past. I have offered my personal credit report to clients who want the reassurance. Check to see if the PM, the  Contractor, and Brokerage licensed and have ALL proper insurance evidenced by an Insurance Certificate listing you as an additional insured.  I have a video blog on my website from several years ago entitled "Is Your PM Ripping You Off "  Send me a message if you would like the link.

Your PM is the most important long term asset you can have to help make your investment a success. (of course, overpaying for the investment  takes years to overcome)  Make well-informed decisions so your PM does not turn out to be your biggest liability!