All Forum Posts by: Mitch Smith

@Shweta Gupta

Hey Shweta. I am a Southern California investor that is currently doing business out of state. I would love to connect and help you with whatever questions you may have. I have definitely faced some challenges in building my team out of state but I would never give it up for anything. It has helped me grow into The investor and business owner that I am today. Feel free to reach out anytime I’d be glad to help where I can.

Thanks,

Mitch

@Gurmanpreet Singh

Hey Gurmanpreet. Welcome to the BP family. I applaud you for reaching out and making connections. I’m a San Diego native and have been investing in the Indianapolis market for the better part of 10 years. I have developed an amazing team and doing 15 to 20 projects per year. We are mostly doing flips and new construction but have found quite a niche in converting duplexes into two separate townhomes.  Indianapolis truly is a great market and it’s becoming more and more competitive by the day. That being said, I believe it will be a great market for quite some time. Especially the counties surrounding Marion County. Feel free to reach out anytime. I would be happy to help you however I can. I encourage you to continue to build relationships and communicate with those on forms such as this. 

Good luck.

Mitch

@Matthew Campbell

Wow. I am so sorry for that incredibly tough lesson. It sounds very familiar to another company or two that have left quite a path of destruction in Indy.

I am sorry Mathew. Thank you for sharing.

@Yinglu Wang

Hi Yinglu, Welcome to BP. Great job reaching out. I am heavily involved in the Indianapolis market. Feel free to reach out with any questions you might have.

Mitch

@Manny Awasom

Hey Manny. Hit me up anytime. You can reach out through this platform on BP and we can set up a time to chat.

Mitch

@Manny Awasom

Hey Manny. Congratulations on jumping in. I live in San Diego and have been investing in the Indianapolis area for the better part of 8 years. I am doing buy and holds, new construction and flips. We are are in the neighborhood of 15 to 20 transactions a year. I would be happy to help you out with any questions or information that you might need. I have an amazing team that I have built there. But trust me. It came with some challenges. The key is building solid relationships. You are on the right track by reaching out to fellow investors. Feel free to reach out. I would be happy to help how I can.

Mitch

Hey @Jeremy Luster.

Welcome to BP. You are doing the right thing. Build relationships and embrace your journey. There is a ton of knowledge here. Feel free to reach out if I can help.

Mitch

@Mark Barton

Hey Mark. Welcome to BP. Congrats on starting your new journey. Its a heck of a ride. I wanted to take a minute to respond to your post. I too had that same question regarding out of state investing 10 years ago. I live in San Diego. Arguably one of the most expensive markets in the country. I have been investing in Indianapolis for almost 8 years now. I started doing  flips in California but quickly discovered that if I wanted to build my own portfolio I would need to make some changes. So I moved my business to the midwest in search of a more favorable market. I am here to tell you. Operating from out of state is definitely possible. Not easy, but possible. I am doing  buy and hold, building new construction homes,  and flip transactions from 2000 miles away. I know that Indianapolis is not the the only good market, maybe even not the best. But my opinion is that it will be good for quite some time. Especially the 5 surrounding counties around Marion county. The key is building a solid team that you can trust. I lost a considerable amount of money while I was doing this but you know what? I would not give up the education that I acquired in a million years. 

How do you get there? You go out and start building relationships, asking questions and failing forward. This is not a get rich quick scheme and the relationships you build will help improve your business as time goes on. I wish you all the luck and please feel free to reach out if I can help.

Mitch

@Michael Kodish

Hey Michael. Welcome to BP. I would be happy to connect. I live in San Diego and have been doing flips, new construction and buy and hold transactions in Indy for the last 8 years. I would be happy to share some info regarding the market there. Feel free to reach out with questions.

Thanks.

Mitch

Hey @Aaron fletcher

What is your exit strategy with this property? Are you looking to flip, buy and hold or use as a primary residence.

Your question regarding an agent is an interesting one. I am not advocating doing this on your own but let me just say that I bought my first investment property 2000 miles away with no agent. Did you know that your local office supply store sells a package of 25 Real Estate Purchase Agreements? 🤔 I am not advocating using these basic agreements but simply making a point.

Most people are so stuck on having an agent because they think it is required. A title company or an attorney can do the closing for you. And, most sellers are not looking to pay an agent for both sides of the transaction if the property has been sitting for awhile. It may give you a better shot at acquiring the property. Don’t get me wrong, I use agents every day in my business but they are definitely not required. That being said, an agent can definitely guide you and help to make sure you are protected if you are not comfortable with contracts and doing it on your own. Besides, the agent is a free service to the buyer.

In the end it comes down to YOUR comfort level. Just know you have options.

Good Luck. Feel free to reach out with questions.

Mitch