New Investor from CA looking at Indianapolis Turnkey

[Chris Gerenser]

Hello BP Community!

My name is Chris Gerenser and I live in Napa, CA with my wife and three girls. We currently have one rental property, as we held onto the home we outgrew. We have been interested in acquiring more rental properties, but the cost of real estate in California is very high.

The high cost locally drove us to look into buy and hold investing out of area and that led me to Turnkey operations. This seems to be the best fit for my family since at this point we do not have the time to dedicate to developing a market and team ourselves. The first market we are looking into is Indianapolis with Clayton Morris. We have set up an LLC and are looking to do our first deal.

We would like to put a roadmap together to acquire SFR and potentially MFR over the next 5-10 years to grow passive income from rentals that are cash flow positive from the start. I have many questions that I will address in other threads, but if you have any input regarding this market or any tips for a new investor, I'd appreciate the information. Thanks!

[Phil DuChamp]

Chris Gerenser I'm in the Indy market, just getting started and working with Norada Real Estate looking for my first property. While the COC isn't as favorable as Morris Invest, they have contacts with vetted rehabbers and property management firms. I'd recommend checking them out before committing to anything with Morris... I'm not trying to steer you one way or the other, just suggesting you keep your options open.

I've been curious what area of town he's working in. At the price points he's mentioned on the podcast I'd think the area may be questionable...