All Forum Posts by: Jeff Schechter

@Tiffanie Ellis If you want to meet wholesalers, come the REI meetups in Indy. There's one downtown, and there's one uptown. You'll find lots of wholesalers ready to sell you their properties. :)

Buy and hold with a good Turnkey company.  Analysis paralysis is fine...for a little while, but when you start looking at the returns you could be making, that analysis becomes VERY costly.  

There are obviously more than two sides to every story. As stated, we buy from the same supplier that Clayton does. We invest in B/C neighborhoods. We don't invest in "war zones." If some people want to pay over $110K in Indy to feel better about a property that's totally cool...they are welcome to do so. Those renters are far more picky, and cost a lot more to keep happy. The expectation level of a $700 renter is VERY different from a $1200 renter. As such, there's a signifiant cost in ROI to "feel better." We'd much rather be in a $60K C-class duplex (with 2 doors) that brings in $1200/mo, than a $120K A-class SFH (with 1 door) that brings in $1200/mo. We don't really care if the properties are harder to sell (even though that's not really true). We plan to hold on to them for a long time. Our buy and hold strategy is NOT about appreciation. That said, Indy is getting a lot of national attention, and we are seeing a steady (very slow) rise in values. And the more rehabs we do, the more we have a positive effect on this town.

The people we've teamed up with have been doing this in Indy for 20 YEARS.  My biz partner and I now have about 70 doors in Indy, and other than the occasional vacancy, they ALL perform very well.  We don't see people trashing our properties, because the mgmt company culls the crappy renters.

The investors that are licking their wounds from investing in the actual "war zones" obviously either didn't do their DD, or worked with the wrong TK company....or both.  

Shalom @Ilan Z.,

I have family in Israel, and many of them have been through the Army there...one of my nephews is in right now.  I LOVE both of your goals.  If I can help in any way, feel free to reach out.

Shalom U'vracha!

@Elliot Mendoza Sorry to hear about your troubles, but thanks for sharing.  We operate a turnkey company here in Indy, and some of our properties are the kind that people in this thread are warning about.   That said, we've never had an issue.  I think it all boils down to WHO you are doing business with.  We don't have a problem keeping duplexes rented in B-/C+ neighborhoods, but our mgmt company also has 20 years of renters in a database, and do a great job of vetting.  We also put these tenants into properties that are in good shape, as they've been fully rehabbed.  There's a lot more to tell, but you get the idea.  When you do things right through the entire process, you can get the results you are looking for.  I'm happy to act as a resource to show you ALL of the things you need to look for on your next deal, whether it's in Indy or not. 

And although I haven't yet read @Mike D'Arrigo's report (I would like to), there are probably some great gems in there that would keep you from making the same mistakes again.  

Those metrics are great, but you have to look a little deeper.  For buy and hold strategies, the more important issue is price-to-rent ratio.  If you can do that in a state with lower taxes, you'll do well.  ie- we're almost exclusively in Indianapolis right now, and seeing excellent returns that we are able to replicate easily.

We've been working with Oceanpoint (not Clayton) for a while now, and the results have been fantastic.  I know Bert well, and know him to be very straightforward and honest.   PM me for more info.

@MarieChele Porter

I agree with zip code discussion above.  We have a couple of pockets that we work in.  PM me, and I can give you more details.

We are heavily invested in Indianapolis.  We run a turnkey company, and have a hard time replicating our returns on a consistent basis anywhere else...even in some of the other midwestern cities mentioned.  The price-to-rent ratios in certain areas of Indy are awesome. 

Hey Jenni,

I recently moved to Indy, and already have a team in place.  Happy to share info with you.  PM me if interested.