All Forum Posts by: Aaron B.

@Tyler Jahnke, no problem I was happy to assist. I hope the photos prove useful in your engagement with Morris reps. That said, I would encourage you to hold the company accountable for their rehab, especially if it does not meet you expectations.

@Katie Drab, congrats on taking action.  I know your original question is regarding Oceanpoint PM.  I do not have any firsthand experience with the Oceanpoint or Morris Invest. 

There was a recent post called "Morris 2.0" from @Tyler Jahnke, which you may find useful.  I bet Tyler would share his thoughts. 

Stepping away from your initial question.  I too am a newer investor.  When I started investing, I said, "I have to hurry or I will be left behind.  All the good deals will be gone."  A year and half later....mehhh there are still good and bad deals, which I evaluate everyday.   

It sounds like you have been evaluating properties. I found great benefit from widening my aperture of homes I evaluated. I started by evaluating TK properties, then pre-rehabbed homes (wholesalers), and homes on the MLS. Additionally, it helped me understand viable exit strategies. Honestly, the more I researched Indy the more I found it was really a complex market.

I would suggest you come visit Indy, rent a car, and just crush some mileage. 

Even if I have complete trust in a company I am a "Trust but verify" kind of person.  I would recommend you get a local point-of-contact separate from any turnkey provider.  That could be an inspector, family, friend, contact.  Feel free to PM me if you have any questions.  I have nothing to sell you.  Good luck.

@Brian E., I am not sure your definition of 'C'.  For discussion sake let's use an 'A - D' grading system. I have only been through the neighborhood during weekday afternoons and the environment seemed ok.  Off the cuff, I would say the neighborhood is steady, however, there were a few houses in disrepair.  I recall there was one home that was being kept in nice shape and it stood out. (Which speaks to the neighborhood that I only recall one nice home.)  You can also tell a lot by the amount of rent being generated. My assessesment is that this is a C/C- neighborhood. The big question is will the neighborhood decline, hold steady, or rebound. 

@Tyler Jahnke, great to see the progress. Your holding people accountable is paying off.  Let me know if I can be of further assistance. I would be happy to run by your property again. 

@Tyler Jahnke, really depends on where your properties are located. I know some property managers prefer specific areas, while others PM won't take on a property below a certain rent point. 

Regarding your identified terms *woof* I think most PMs will chafe at those numbers.   I personally do not have a problem with what your proposing; however, I think adding a rewards column will make it more palatable for some. For instances, the PM keeps the tenants in place for two years maybe they get a bonus.  I like aligning my and the PMs goals. I am also a huge fan of fixing problems correctly the  first time even if the cost is twice as expensive using the best guy.  Asking if folks garuntee there work, the answer separates the professionals from the amateurs (within reason).

      (Example: I am temporary in Indy so I am renting. I had to call the PM to fix a leaking water heater three times.  Each time I tell them what's wrong each time the handyman fumbles around with it. Finally they replace the water heater - which is not the solution.  If I were the owner I would be pretty annoyed I had to pay for three service calls on the same thing unfortunately the owner likely doesn't know he never even needed to have a new water heater.)

@Mukesh Yadav, I have worked with @Jynell Berkshire and I think she is very knowledgeable regarding real estate law, governance, and policy. 

@Gabriel Freeman, I  agree with Andy.  the website is totally fickle. Another trick is,  having to use the abbreviation of street (st) instead of the whole word.  That goes for Avenue and drive as well as North and south.   For example : 4025 N kenwood Ave. 

Interesting article. 

@Tyler Jahnke, no problem happy to help.  Wow, really great post. 

I think there are a few salient points to the newer reader who is an out of state investor. Folks speak a lot about "boots on the ground" but I think that phrase needs to be further defined.  As an investor your sole "Boots on the ground" should not be people selling you a property.  I would suggest an out of state investor really needs to get an objective set of boots on the ground. Someone who has nothing to gain if you buy the property or not.  Obviously, it is hard to find that person in any particular market but folks are out here.