All Forum Posts by: Com M.

Hi @Ernesto Hernandez

Totally agree with Jeff you need to find and line up your HML and analyzing deals. Do you have wholesalers and a PM lined up in Indy?

Hi @Harrison Blaufuss 

Fellow SoCal member investing in Indy, there is a lot of homework you will do but at the end of the day you are relying heavily on your team, at first your realtor that found the house and has given you their future predictions of the area,  then your PM will tell you what they think of the home and area, if you like it and place an offer then after the detailed inspection you can call and talk to the inspector for a few minutes about the house and area.  All of that of course after the normal DD of the blocks, neighborhood, and street.  After sending a few hundred over to your realtor you will get a feel for which areas/neighborhoods to stay away from.

Always happy to share anything, let me know if you have any questions. 

Best of luck finding your first deal!

@Lorraine Sar welcome! fellow Cali investor looking in the Indy market.  Be happy to share any of the connections and experiences I've had.  

@Ernesto Hernandez  also a Cali investor with 1 duplex but looking to add doors ASAP.   Looking for good contacts in the area.

@Shawn Holsapple would also really like your opinions on the top PMs in the area

@Jeb Brilliant I have used Whites Home Inspection for 3 inspections and have been impressed every time.  I'm just his customer, but I will use him for everything I do in Indianapolis for the foreseeable future because he was thorough and went through everything like it was his own investment.

I live in Southern California and invest in Indianapolis. Like you a year ago I decided I wanted to start, 6 months later I purchased my first duplex, and now I have a couple of leads and am looking to take down my second.  I will not be leaving my job, but just want something secure to invest in my current 401k is a total scam. 

Like Leslie said buy and hold is very slow and boring - but that is exactly what I was looking for.  Duplexes are harder to find most are converted SFRs  which are problematic.  I like the cashflow of duplexes, but due to appreciation and downpayment I will probably be going with SFRs for the next few - I can finance those at 20% down but duplexes would be 25% meaning more cash up front.

Best of luck, let us know how it works out.

Hi @Sunny A.

I'm a Cali investor currently investing in Indy.  I was thinking like you, that if I could just meet the right boots on the ground we would be able to build something - but before working with someone you need to know them, their background, and their drive. I ended up meeting a lot of people, and getting in touch with a Property Manager that I really like and they are basically my boots on the ground. So far it has been working well, but to have a partner that is driven in the local area would be amazing.

Best of luck, and lets stay in touch I'd love to hear how your Indy investing goes.

That answer totally depends on your situation. In my situation it was not a good thing as my Primary Residence mortgage takes half of my after tax income making my debt to income a little harder to deal with when it comes to investing. Not to mention the serious strain it puts on your savings rate.

I live in SoCal and decided to purchase out of State.  Right now I am concentrating on Indianapolis. I was able to close my first duplex for 90k that had both units rented for $1300/mo.   Not fantastic but I like the Indy market, and more importantly really like my PM company.

California is a great long term appreciation play, and if I had the money to do more here I would but for now my long term goal is to close 1 of these a year for the next 5-7 years and then start looking at the next phase of my plan.

Good luck in whatever you do.