UPDATED 10/28/2013- Currently managing 80+ residential properties in Indianapolis. The investors that own these properties are buying 3-5 more every month. We are currently assisting in the purchase, rehab, occupancy, and management of every property.
There are 3 strong revenue streams (Management, Sales, and Rehab)
1 Full time property manager, 1 full time maintenance technicians, 1 part time leasing agent currently.
You do not need an Indiana Real Estate License to operate this business but it will help if you choose to assist these investors with purchasing and selling their properties.
I have been flipping properties to these investors successfully for the past 12 months with margins of $4k-$10k on each flip.
We are currently at 85% occupancy and have 14 units that we are rehabbing on an apartment building.
2012 Net Income was over $85,000
2013 Projected Net Income is over $85,000
Asking $85,000 - No owner financing available
There are not a lot of assets with this business (signs, lockbox's, small tools, door locks, shirts, etc)
Operating costs are very low (Office space is $400 per month and includes internet). Phone line ($29/month), E-Fax Service($9/month), Website, Management Software($100/month), and gasoline are your biggest expenses.
Call Thomas Wright 317-428-8076