All Forum Posts by: Ryan Rominger

Yes, Indianapolis has several solid rental markets, especially for cash-flow-focused investors. Areas like Irvington, parts of Fountain Square, and neighborhoods around Garfield Park have seen steady demand. That said, Indy is very block-by-block, so it's important to look closely at each specific street rather than just the zip code.

Welcome to the journey! It's a big step, but definitely doable with the right groundwork. One thing I'd emphasize is building a strong local team before pulling the trigger on a property. That means a trustworthy property manager, a reliable contractor (or two), and ideally someone who knows the market on a street-by-street level—many U.S. cities, including Indy, can vary widely block to block. Also, make sure you fully understand the tax implications and legal structure for Canadians investing in the U.S.—that part can get tricky without the right guidance.

This is what I always say for out-of-state investors, especially those who are looking to grow their portfolio - always take the time to understand neighborhood dynamics. Indy is very block-by-block, and what looks good on paper might not reflect the actual tenant base or property condition. Also, having reliable local contractors and a solid property manager from the start would’ve saved a lot of headaches.

Hey, welcome to the grind! For a first out-of-state deal, many investors I’ve worked with lean toward simplicity—Class B turnkey can be a great way to ease in, especially if you’re not hands-on. It helps you learn the ropes without getting hit with major surprises. That said, light value-adds in Class C can work if you’ve got a solid team on the ground and a PM who’s experienced in that space. Just make sure your numbers still hold after those small renos.

Hey Breanna, congrats on your first property! For Philly-specific leases, definitely make sure your agreement complies with the city’s landlord-tenant laws—like lead paint disclosures, bed bug addendums, and the Partners for Good Housing guide. PA Association of Realtors has solid templates if you can get access, or consider running a draft by a local attorney just to be safe. Also, welcome to the Philly market—it’s got quirks, but there’s good potential if you stay proactive with tenant communication and property upkeep.

Totally hear you—Chicago HOA rules can really limit your flexibility, and after a rough eviction, it makes sense to reassess. A lot of investors shifting from condos are leaning into single-family homes or small multifamily properties in landlord-friendly states like Texas, Florida, or parts of the Southeast. Places like Indianapolis, Birmingham, and even some Central Valley spots in California have decent cap rates and are more Section 8-friendly with lower entry points. Just make sure to dig into local regs and neighborhood comps before jumping in.

I've seen few investor pairs who've done exactly what you're describing—two-member LLCs owning multiple single-family rentals. It’s a solid structure for keeping things organized and protecting both of you. Just make sure your operating agreement covers how decisions are made, how capital contributions work, and what happens if one of you wants out down the line. Definitely helps avoid misunderstandings later.

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Absolutely agree — numbers are just one piece. The neighborhood vibe, buyer demand, and real project timelines can make or break a deal. Gut checks and local knowledge save you from a lot of hidden headaches. Patience is huge too — not every "good on paper" deal is worth chasing.

Hey, you’re on the right track. $130K is definitely workable here. Those $100K homes, especially pre-1940s, usually need serious updates though — think roofs, HVAC, electrical.

If you’re open, you could also snag a small duplex or townhouse, maybe with lighter rehab and better cash flow.

For rehab costs, I start ballpark estimates early — like $20–$30/sq ft for basic updates, $50+ if it's rough. If pics suck, I assume worst-case until I can walk it or find better info elsewhere.