New out of town real estate investor looking into Indianapolis

[Thuy Twee Nguyen]

Hi Everyone!

My name is Thuy (pronounced Twee). I am a new real estate investor interested in the Indianapolis market and would love any advice give to start. So I live in Aurora, CO, not too far from Denver but the market here for SFH properties are insane! That is when I started listening to BP on YouTube and started reading the books. I am now reading David Greene's Long Distance Investing book. The information in there is gold, so I plan to basically follow it step by step. I have reached out to one of the top producing agents in Indy that I found and Zillow over the weekend and plan to reach out to a couple more. I looked at T&H Realty services for a PM company. I looked at their website and they have such valuable info on renting in Indy and was thinking of using their RE agent but I think she would have so many clients that are looking for the same properties that I would be that for me to get a half decent deal would be difficult. I have a Colorado lender that I am currently working with that would be able to get me great rates, now I need to look for a handyman or general contractor that would help me with the necessary rehabs.

I want to stick with SFH, since I read from the older posts that duplexes would be more of a risky option.

I have been so inspired by all the stories I have heard, read, and seen on BP, that I ask myself, "Why can't that be me?"  I would greatly appreciate any advice for a newbie like me.

Thank you for taking the time to ready my stories and thank you in advance for any advice given!

[Zach Hoereth]

Glad to see you are taking action @Thuy Twee Nguyen! That said, be sure to properly vet some of the third party vendors that you are planning to use/partner with. One of the largest mistakes I see OOS investors make here in Indy is becoming too reliant upon an agent's opinion. As @Mike D'Arrigo mentioned a top producer on Zillow, Trulia, etc may not be the best fit especially for locating long term cash-flowing rentals. Keep in mind that the interests of your property manger and agent should align. If that is not the case, something is off. A majority of the Indianapolis agents I have met that represent OOS investors are not conscious of the long term play. It is not always about selling the most expensive house you can find to result in a higher commission, but locating great deals that investors can take advantage of which in turn creates a better long term relationship.

Please let me know if I can help with anything in the future and I would be happy to connect you with folks in my network! Good luck.

Cheers,

Zach