All Forum Posts by: Ryan Rominger

@Sander A Swenson

That’s a great goal to have, and definitely an achievable one if you make the right investments.

Connection request accepted! I look forward to speaking further and learning how we might be able to work together.

@Teho Kim

I'm a property manager and RE broker here in Indy and I've helped several investors find properties where the BRRRR method would work.

It is true that some of the best investment deals go pretty quick in Indianapolis. I just helped an investor go under contract on a duplex yesterday that was on the market for less than a day. I have to say though- where there is competition there is value (and visa-versa) and where there is NOT competition there is usually* NOT value (unless you happen to be a lucky 1st-mover). That’s why it’s important to have a knowledgeable, efficient team on the ground that can help you be faster and smarter than the competition.

Hope this helps! Let me know if you ever what to chat Indy real estate!

Hi @Ray Johnson,

Great question! I'm a California native but I've lived in Indianapolis for the past 4 years as my wife is originally from here. I'm also a property manager and RE broker here in Indy and I've helped several investors find properties where the BRRRR method would work. Indy is a great market for buy and hold investments that will bring strong cash flow.

To answer your question, it’s not secret that IPS (Indianapolis public schools) is... bad (but it’s getting better!) Nevertheless, this has not hindered the gentrification and development of many of Indy’s urban neighborhoods. My opinion is that much of the market force driving this development is coming from young professional without kids that want to live in the city, close to work and bars/restaurants, but aren’t deterred by the rough school system.

Hope this helps! Let me know if you ever what to chat Indy real estate!

Hi @Peter Aziz,

I'm a property manager and RE broker here in Indy and I've helped several investors find properties where the BRRRR method would work.

To start answering a few of your questions in regard to Indy CapEx. We generally charge 10% for our PM services, which I understand to be pretty average in Indy. Snow removal definitely depends on the type of property. For instance, any property with 4 or less units is considered residential (as opposed to commercial). Generally on a residential lease agreements snow removal is left as a tenant responsibility, whereas multiunit properties that have common areas like parking lots and courtyard will require snow removal at the expense of the landlord so it should be budgeted for.

Hope this helps! Let me know if you ever what to chat about Indy real estate. I'd be happy to speak further in regard to some of the CapEx expectations you should have for Indy properties.

Hi @Diana Villalon

I'm a property manager and RE broker here in Indy and I've helped several investors find properties where the BRRRR method would work.

The answer to your question definitely depends on the area. There are some parts of Indy where $650 for a 2;1 might even be too high. For the most part though, in Indy’s A, B, and C neighborhoods I would say that, yes, $650 is generally low for a 2;1.

Hope this helps! Let me know if you ever what to chat Indy real estate!

@Sander A Swenson

Small world! I am originally from the Fresno area (Visalia) and my parents now live on the central coast (Arroyo Grande). SLO is one of my favorite places. I had lots of HS friends that went to Cal Poly.

Now I’m a RE broker and Property Manager in Indianapolis and I specialize in helping investors. I’d love to connect and learn more about what your goals are for investing.

@Vivian Pena

I’m a RE broker and Property Manager in Indianapolis and I have helped quite a few investors make cash flowing investments here in Indy. Typically our goal for monthly cash flow is 1.5 - 2% depending on the neighborhood.

Let me know if you’d like to connect and chat sometime.

@Adey Adenrele

I’m a RE broker and Property Manager in Indianapolis and I really love working with investors. Let me know if you’d like to connect and discuss matters further.

@Marichelle Lao

I’m a RE broker and Property Manager in Indianapolis and I’ve always recommended Iron Gate Home Inspectors to my clients. Their rate is reasonable and they are very thorough!

@Jordan Moorhead

I'm a RE broker and Property Manager in Indianapolis and I've actually helped a few investors do the BRRRR method here in the Indy market.

Since a few of them have already reached the “Repeat” step I have to say I think it’s something that works. That said, I think you can definitely go wrong if you don’t know what you’re doing (make a bad investment) or don’t have enough liquid capital in the beginning to rehab and maintain the property for it to continue cash flowing.

I also think it is important to find investment opportunities that are right in the “sweet-spot”:

1. Fixer upper that you could add value too (without overspending due to major flaws)

2. In a strong rental market so that your monthly ROI % is high (goal is typically 2% here)

3. In an appreciating/semi-developed area that will yield a marginally higher ARV that will allow you to refi once you reach that point

Hope this helps! The other important thing to have in place is a team on the ground (PM, agent, contractor, lender, etc.) that can help you hit all the important milestones.