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All Forum Posts by: Jake Knight

Jake Knight has started 5 posts and replied 282 times.

Post: Advice on property management

Jake Knight
Pro Member
Posted
  • Property Manager
  • Indianapolis
  • Posts 286
  • Votes 136

More information would be helpful for sure, have you had a conversation with them about your account?  Our company had been set up by departments traditionally, that's common.  The most common complaint we would get is that our client wouldn't know who to contact on a day to day basis.  We formed a client relations team as the primary for all clients to centralize everything.  I would try to determine whether or not it's poor maintenance practices that cost you more out of pocket. Maintenance and upkeep on properties can be frustrating but are necessary to keep the property steady. Companies and people/investor change overtime so it's not a bad idea to see if they're still the best fit for how you would like to see the properties managed. When companies are bought out they change.  Best of luck with everything.

Post: Should I rent one of my units to one of my closest friends?

Jake Knight
Pro Member
Posted
  • Property Manager
  • Indianapolis
  • Posts 286
  • Votes 136

I wouldn't mix the two, it could compromise your friendship if this turns bad.  Also, some in that position may see themselves as exceptions to certain rules. If you value the friendship and are willing to consider him as an applicant, I would just have him apply as any other person would and treat them with equal consideration as you would for a stranger about the property.

Post: Would tenant be responsible for AC repairs?

Jake Knight
Pro Member
Posted
  • Property Manager
  • Indianapolis
  • Posts 286
  • Votes 136

The tenant sounds like she is being reasonable.  Some systems can't keep up with extreme heat, we had complaints about this all the time in the community I managed.  At that point, it's always good practice to check the system to see if it's functioning properly.  

Post: Nationwide Monthly Housing Market Trends for June 2024

Jake Knight
Pro Member
Posted
  • Property Manager
  • Indianapolis
  • Posts 286
  • Votes 136

Thank you

Post: 46227 / University of Indianapolis Area Investors

Jake Knight
Pro Member
Posted
  • Property Manager
  • Indianapolis
  • Posts 286
  • Votes 136
Quote from @Josh Wong:
Quote from @Jake Knight:

We have quite a few properties over there!  It's a pretty modest/blue collar area.  You'll find some crime as you would with a more affordable area but overall it offers good rents in a time where rents are at historic highs. I find a lot of rents to average around $1,300.  Floor is $900 and ceiling around $1,600. Personally, I don't have any issue investing or managing over there. Finally, even though Indianapolis University is small, it's always good to have a great institution nearby.


 Hi Jake, great to meet you and thanks for the share! As for the properties you manage in the area, are most short-term or long-term rentals? And how're they cash flowing compared to other parts of the Indy area that you manage?


 Hey Josh, thanks for your response.  We only do long-term property management so I don't have a great view into the short-term rental market.  That being said, I would think that given its location, it would be better suited for long-term management.  It's not what I would call a trendy area like Bates-Hendricks/Fountain Square.  I tend to see more short-term rentals in the trendy downtown areas. The two areas that I think would be best suited for short-term in 46227 are the North end of the zip code near Garfield Park and Homecroft. Hope this helps, please let me know if you have any other questions!

Post: Indianapolis Market Update

Jake Knight
Pro Member
Posted
  • Property Manager
  • Indianapolis
  • Posts 286
  • Votes 136
Quote from @Denise M. Tschida:
Quote from @Jake Knight:
Quote from @Ryan Lopez:

I am just casting a net here. I am an investor looking for a deal or two in the area. I am from California and I am looking to get into the local market. I'm considering Cincinnati, Columbus, Lexington, Louisville and Indianapolis. Looking for location advice and local connections.


 Hey Ryan,

Thanks for your response.  There are a lot of areas to invest and it will really just depend on what your investment goals are or your buy box. If you're looking for cash flow, Anderson is a good market for that.  If you're looking local to Indy, you may check out Bean Creek area, Garfield Park, Christian Park, Riverside to name a few.


 I will look into these areas. Looking for good cash flow and long term tenants.


 Feel free to reach out to me directly if you have questions or if you want an opinion on an area or property.  Happy hunting!

Post: Property Manager Indianapolis

Jake Knight
Pro Member
Posted
  • Property Manager
  • Indianapolis
  • Posts 286
  • Votes 136
Quote from @Max Goossens:
Quote from @Jake Knight:

I'm happy to send you some information on our services if you'd like.  Either way, wish you the best in your search!

Thank you! I have already reached out to your group and it touch with Devon Shaw by email. I would like to schedule a phone call do discuss further though. Could we set something up? I read the ebook and I think your group would fit my needs. 



 That's great news!  My email is [email protected]. Feel free to reach out or book my calendar!

Post: PM in Indianapolis, IN

Jake Knight
Pro Member
Posted
  • Property Manager
  • Indianapolis
  • Posts 286
  • Votes 136

We'd be happy to speak with you about your PM needs, please don't hesitate to reach out if you are still looking.

Best of luck,

Jake

Post: 46227 / University of Indianapolis Area Investors

Jake Knight
Pro Member
Posted
  • Property Manager
  • Indianapolis
  • Posts 286
  • Votes 136

We have quite a few properties over there!  It's a pretty modest/blue collar area.  You'll find some crime as you would with a more affordable area but overall it offers good rents in a time where rents are at historic highs. I find a lot of rents to average around $1,300.  Floor is $900 and ceiling around $1,600. Personally, I don't have any issue investing or managing over there. Finally, even though Indianapolis University is small, it's always good to have a great institution nearby.

Post: Property Manager Indianapolis

Jake Knight
Pro Member
Posted
  • Property Manager
  • Indianapolis
  • Posts 286
  • Votes 136

I'm happy to send you some information on our services if you'd like.  Either way, wish you the best in your search!