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Welcome to Target Market Insights. A podcast to help real estate investors navigate neighborhoods through the lens of local experts. In each episode, we speak to local specialists to learn about their market, useful tips, and the latest trends and developments. This show is designed to help you with the insights you need to win your target market.

Oct 11, 2019

Kent Ritter is a native of Indianapolis, who began investing after successfully exiting a consulting firm with his partners. In seeking a place to invest the proceeds, he turned to multifamily and began the education process. To date, Kent has invested in over 1,000 multifamily units and he shares why he picked passive investing to start instead of buying his own 50 unit. He also talks about the Indy market and the strategies he employs to finds investors.

 

Partner: Download a Free Sample Apartment Deal Package

 

 

Key Insights

  • Background in management consulting, focusing on operational improvement
  • Started his own consulting firm, sold it in, and started looking for areas to invest the proceeds
  • Looked into buying a 50-unit, but realized there were more benefits in acquiring a larger property
  • The best property management firms don’t want to manage a property with less than 75-units
  • Find sponsors who will be transparent and provide access on the inner workings for the deal
  • As a passive investor, know your basics and ask about specifics, especially financing and renovations
  • Indianapolis – great for multifamily, stable, and affordable
  • Indy: 2nd largest city in the Midwest, 14th largest city in the US
  • Kent’s market criteria: major markets, growth (population and job), business-friendly, employment mix, supply, amenities
  • Sub-market: Hamilton county is expected to double by 2050, Hendricks is expected to grow by 84% by 2050, the median income is $66k
  • Indiana voted 8th best state for business tax  
  • Salesforce and Infosys have placed HQ in Indianapolis – attracting more tech jobs
  • Tips To Grow Investors: Create your investor persona
  • Kent’s Personas: Wealthy/Accredited Investor, Interested Active Investors, Busy Professionals, Retirees
  • Where to find investors: local charity and political events, local meetup, REIA groups

  

Bull’s Eye Tips:

 

Most Recommended Book:

Pitch Anything by Oren Klaff

 

Most Recommended Digital/Mobile Resource:

Contactually

 

Daily Habit

Meditate

 

Wish I Knew Starting Out

Syndications

 

Current Curiosity

Macro-economics

 

Best Place to Grab a Bite

St. Elmo’s Steakhouse

 

 

Connect with Kent:

Email: kent@hudsoninvesting.com

Website: hudsoninvesting.com (Coming Soon)

 

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