By: Brian Schutt
With the real estate bubble bursting over the last few years, rental properties have surged. First, these former owners can no longer get a mortgage. Secondly, these former owner-occupied homes no longer have owners. This combo means more homes are empty and more people need homes.
As you might imagine, these places aren’t always taken care of well. In fact, many are looted for anything of value before they’re left unoccupied. And certainly, get stripped of anything of value if they’ve been foreclosed on. Hence, many of these places require extensive rehab, heating and air conditioning included. While Indianapolis may not have taken as big of a hit on real estate as other parts of the country, investment properties and rentals are continuing to grow here.
One of our focus areas within residential heating and air conditioning is investment properties. First, we understand this market because we are real estate investors ourselves. We know that price is the main driver, but it must be coupled with a contractor who will be accountable to a specific timeline and be trustworthy enough to be given access to the home. Secondly, we know that part of the value an investor is looking for is someone to take care of their headaches for them. We do that by asking the right questions upfront to know are pertinent details before entering the home. Imagine a headache-free process at a price competitive with contractors you might find on Craig’s List. It’s possible.