All Forum Posts by: Jeff Schechter

Update:  We got away from them a long time ago... I think they got bought out, or are no longer operating.

We have a turnkey company in Indianapolis.  Lots of happy investors.  But, like @Ali Boone said, inventory is tight.  We are expanding our reach into other markets, just to be able to provide more cash-flowing properties to our investors.  While having your own team is also a good strategy, just be prepared for a TON of competition in acquiring properties.  We are passing on a lot of deals right now, as the wholesale market does not leave enough meat on the bone for an investor to make money.  I would disagree that Roofstock is a good resource.  When we looked at the commissions involved (and exclusivity) of listing with them, there was not one property we could make work for our investors...that was 18 months ago, BEFORE things got tight.

I can tell you as a turnkey operator, it's getting much tougher in Indy.  We beat the bushes every day, and are seeing a lot of what was mentioned above....namely that wholesale prices don't leave enough meat on the bone to make it worth it.  We have multiple crews, buy in bulk, and have a pretty efficient operation.  I have no idea how someone from 6 states away can make it work on a onesy-twosy basis.  

We have not used them, but we consulted with Dan on some issues with our own internal setup.  The dude is rock solid.  I'm certain you'd have an excellent experience using his services.

@Josh C. We may have interest in the St Clair double.  

We've got a 4-plex coming up on E. Washington... VERY close to Irvington.   You'll need to get on our list, and have a convo with our Investor Relations director to be considered.  DM me for more info.

Hey @Gino Volta - we work with a lot of OOS investors, and are also building our own portfolio in the same neighborhoods.  About 450 doors now, so we know a thing or two about Indy.  Feel free to hit me up.  Good luck!

I own a TK company in Indianapolis, and agree with @Lee Ripma. It's more about YOU than the structure of TK. We typically work with investors who have busy careers, and don't have the time or inclination to do BRRRR's from a distance. Their time and effort is best when focused on their main career. We are all about helping our investors cash-flow, and get great tax savings.... again based on their personal income and tax position.

Are some TK's overpriced?  Yes.  That said, there is overpricing in EVERY commodity that is sold in the world.  Getting good value is simply a matter of looking at a few metrics, and making an informed decision.

@Jay Hinrichs Yes, that's a good model too. Your comment about the book is noteworthy. I cringe every time I see the BRRRR book or "core 4" mentioned. If I had a nickel for every OOS investor who lost money with that model... oy!

Unless you have all of the relationships in place for buying, rehabbing, and placing good tenants, there's way too much risk from out of state.  It's is a full time job.  And yes, I agree with @Jay Hinrichs....When you're looking at an inspection report from a licensed 3rd party, it doesn't matter if your computer is in California...the report looks the same. For people who have solid careers outside of REI - it does not make sense to do a long distance BRRRR. It DOES make sense to have someone else take all the risk, and just provide you with a nice cash-flowing property.