All Forum Posts by: Nick Giulioni

Hi BP Community, my name is Tennessee and I live in New York City. I am currently working from home and using the time that I save on commuting to buy an investment property (/ies). My primary interest is MFH and SFH in the Midwest area, namely Indianapolis. Thank you for all the information and ideas shared on the BP forums - I look forward to connecting!

I found a duplex in Indianapolis, Indiana with a high return in a class C area, 46222 area code to be exact. I plan to live in one unit and rent out the other side of the duplex. What are your thoughts about class C areas?

Hi,
I think you need clarity on your investment strategy. Selling a property to buy more properties doesn't make a ton of sense to me, especially since you are losing money every time you have a transaction.

If you have equity you wanted to pull out, you could always just refinance to take your equity out if you wanted to.

Remember to keep some money in reserves too, as if this crisis has taught us anything, it should be to make sure there is enough in reserves for when the S*%$ hits the fan.

Good luck!

One of my Indianapolis properties is in the Ben Davis Conservancy district which assesses a separate bill for sewage. This is a small unique part of Indy that charges a separate sewage bill unlike the rest of the city. When I rented the property out, I arranged to have the bills sent to the tenant and asked my PM to notify the tenants that this was their responsibility. However, my tenant has been ignoring the bills for a year and the district is coming after me for back payment. Unlike water, power or gas, non-payment does not result in a shut-off. After a year of this, my PM is suggesting that this bill has been my responsibility all along. Anybody else have property in this area? If so, are your tenants paying the bill or are you?

*simply my opinion* Firstly, Ethiosity is the the property management company I’ve heard the best reviews about from multiple sources in Indianapolis. They stepped in for a lot of investors when the whole Oceanpointe fiasco erupted and helped them navigate a difficult situation. Personally, I manage all my rentals myself. Reason being is that to have a viable management company in Indianapolis you must either have a book of business that is so large it supports the running expenses of your company (since rents are somewhat low here depending on what class of property you have) or they are a smaller outfit and have to nickel and dime every investor. So in short to look the most attractive to a management company you either need a small amount of class A rentals (little management needed and good returns on their time) or a large portfolio of lower class rentals. I looked into  starting a stand alone management company (no trading of properties) and this is the conclusion I came to, I’m sure some will disagree with this assessment.

But to answer your question ethiosity.