All Forum Posts by: Ryan Rominger

Hi @Aaron Cullen ! I operate a property management company in Indianapolis called Intrigue Indy. I am also a Real Estate Broker in Indy as well.

We have a cleaner that does an excellent job for us named Megan Lock. If you like, I can give you her contact information.

Hi @Chris Wood! I operate a property management company in Indianapolis, Indiana called Intrigue Indy. I am also a Real Estate Broker in Indy as well.

Unfortunately we do not extend our network as far as Coal City, but if you are ever looking to invest in property in Indianapolis I would love to be a resource for you!

Hi @Robert Stanley! I operate a property management company in Indianapolis, Indiana.

We use an online platform called Cozy (www.cozy.co) for all of our automated rent collection. It is an awesome tool!

Hi @Candice Childs!

Thanks for the post and welcome to Indy Real Estate! I am a broker/agent with Nottingham Realty Group and I work with lots of investors in center township. I also operate a property management outfit called Intrigue Indy. I'm always open to connecting with wholesalers that might have offers that fit what my clients are looking for! Let's most definitely connect.

-Ryan

Hi Kyle,

(and for those that don't know, I also own/operate a PM company here in Indy called Intrigue Indy)

After reading @Jeremy Tallman's response; their pricing model is actually very similar to ours: We also charge 10% for property management, and also charge the first month's rent for leasing a property.

It is actually reassuring to me that T&H was up-front with you in setting your expectations about the opportunity-cost of vacancy. Setting expectations is where I believe many PM companies fall short for their clients. This also goes for unexpected maintenance costs (these are not typically included in the 10% you pay for PM). It is important to understand that you will likely face some additional maintenance costs with rentals. That said, we are fortunate to operate in a market where, despite those cost-centers, all parties involved can still end the year with a healthy ROI after expenses.

-Ryan

@Shawn Willoughby thank you for you service! I’d love to be a resource for you anyway I can. Like Phil mentioned, I operate the property management side of our operation and we help a lot of our clients that live/split their time out-of-town manage their properties without having to be as “hands-on.” Let me know if you’d ever like to chat.

@Zach Becker I can definitely share from some personal experience in this area. Main objectives should be (1) tactful approach with the tenant, (2) know the legal documentation at your disposal (i.e. 30-day notice of non renewal, 10-day notice to quit, etc.), and (3) know how the legal process works to have the tenant formally evicted should the first 2 things not work. This should always go without saying but I'll say it anyway - No landlord should want to have a tenant evicted; it can be devastating to a person's credit, living situation, and self esteem, but it's a tool of the court that's there because there are tenants out there that just don't want to play by the rules and landlords need to know the rules in order to be able to protect themselves and their investments.

Best way to avoid going through an eviction: Have a good screening process! ;)

As a REI and RE Broker in Indy myself I love the excitement around the development of the Indy market. Nonetheless, I am curious to hear from other RE investors (particularly out-of-state investors that have positions in Indy as well as elsewhere) that have had equally positive (or better) experiences elsewhere.

Here's my 2 cents: SFH tends to be the better way to go if you are looking to renovate and flip. Your ARV tends to be a higher percentage of your total investment cost (purchase + renovation). Due to there "investment property" nature duplexes/MFVs don't tend to get as good a return on a flip. HOWEVER, if you are look to generate residual income through operating rental properties MFVs are your friend (especially in Indy). It is usually easier to find a fixer-upper duplex that you can renovate and generate enough monthly revenue to realize and annual ROI of give or take 24% - this is harder to do that with SFHs, but still possible.

It's hard to go wrong anywhere on the south, east, or north sides of downtown, especially if you are comfortable with buy and hold, although the city has recently released plans for a large development on the west side that is stirring some speculation. Right now our team is excited about the development in these neighborhoods:

• Twin Aire
• Christian Park
• South Fountain Square
• East Fountain Square
• Arsenal Heights
• Mapleton Fall Creek
• King Park
• Friends and Neighbors
• Garfield Park
• Bates-Hendricks (it's still possible to find a deal here but it's quickly becoming saturated)