Advice for Getting Started in Indy (for an OOS investor)

[Shaquanna Brown]

Greetings BP,

After lurking, listening to podcasts, reading books, I am ready to get started in real estate investing this year.

I am most interested in cash flow than appreciation (although appreciation is always nice). Ideally, I would like to find a property that I could do the BRRR strategy on, allowing me to pull back out as much of my initial investment to use to secure my next property.

I’m currently in research mode and have decided to start with Indianapolis, IN. I hope to make a visit to Indy within the next 4-8 weeks to scout the area and get to know the neighborhoods better. However, I’m most anxious about how do I find the right team on the ground?

Any tips or recommendations for a newbie out of state investor? Anyone find they have been able to successfully BRRR properties in Indy? Anyone willing to connect via phone/video chat?

TIA!

~ Shaquanna B.

[Mike D'Arrigo]

@Arie Bitton don't get me wrong, I don't disagree that a good PM is crucial. I've been doing this for almost 10 years and have seen many horror stories. What I am saying though is buying the right property, in the right area at the right price is most important. You can always replace a bad property manager but you can't move a house in a bad neighborhood or undo a bad deal if you paid too much for it. Anything else can be fixed.