All Forum Posts by: Tyler Lingle

 Agreed. You have to be in it to learn for the long haul. It can be done but you need to probably visit your OOS area multiple times (IMO). 

I'm the listing agent on now 3 current failed OOS investments. In each scenario there were patterns I noticed: 

- The investor bit off a large rehab with almost no experience managing rehabs before in their real estate career (sounds smart to do the first one miles away right?)

- The investor managed it themselves from OOS. 

- The investor took their Realtor, Lender, Property Manager at face value, and were clearly taken advantage of. 

Personally, I would NEVER invest out of state without AMPLE experience investing close to home. The reality is, absolutely nobody will care for your property as much as you will. Having eyes on it (accountability) is huge. Additionally, I think it's always wise to cast your net wise and talk to a few realtors, property managers, etc at the beginning, and earnestly seek feedback, rather than going with the voices that confirm everything you already think. Always ask, "What could I be missing here?"

I'm curious, when do you think (if ever) it's smart to invest Out-of-State? 

Yes patio amenities affect buyer choices. Value add. Just be weary of how much it costs. That's crucial. 

@Nick Giulioni's construction management is great! He's a super knowledgeable guy on Indy investing in general. 

Class C = Lower price = Better spreadsheet -> Hidden CapEx and higher turnover. I saw that one. It looked like a pain in the neck to own and positioned on an odd lot. If I wouldn't live there I can't recommend owning as a rental personally. My two cents!

I would recommend Intrigue Indy Property Management or LIV Indy property management. I've used and recommended both. 

I'm looking at discounted lot, specifically in urban Indianapolis, and looking to develop them. Ideally, we are looking to do either prefabricated multi (duplex or quad) or "stick build" with a traditional builder. Does any one have experience building 2-4 unit multifamily that can speak to this? Any overall advice here? I'm really just looking to network and learn at this stage! 

Hi Joe! Chiming in here. That price range is very realistic. I would suggest looking around Fountain Square, good parts of the Near Eastside, and potentially Near Northside / Mapleton Fall Creek / Broad Ripple. Indianapolis is very "pockety". I am happy to discuss at further detail and help you as a realtor as well. 

 Great stuff here. The portfolio loan on multiple properties is VERY overlooked. Probably lower interest and more agency of appraised values with commercial loans too. 

Indianapolis. It's on a sharp upward trend, but doesn't take the recession hits that other growing cities do by being in the Midwest. It's where I own all my rentals. Low vacancy too. ~4-5%.