Guru Ryan Rominger with Intrigue Indy

Rick Ripma: 0:00

Welcome to Indy's Real Estate Gurus. I'm Rick Ripma, your hardworking mortgage guy and I've been in real estate and mortgages for over 34 years.I've helped over 5200 folks finance their homes. My team and I believe in custom tailored loans not a one size fits all approach. We believe there is the right mortgage for you and we believe we are the team to deliver it.

Ian Arnold: 0:18

And I'm Ian Arnoldd part of Ricks hard working mortgage team. I've been in financial industry for 15 years helping customers rebuild their credit to get the best possible interest rates I have passionate in helping you secure your overall real estate dreams and also hopefully paying off your home even faster.

Rick Ripma: 0:32

And for the most up to date information on mortgages or the Indies real estate market go to HardWorkingMortgageGuys.com That's HardWorkingMortgageGuys.com Or you can call Ian or I at317-672-1938 that's 317-672-1938and today we have Ryan roaming from and girl I did it wrong. I did it wrong. Robin jerk.

Ryan Rominger: 0:57

Robins are you nailed?

Rick Ripma: 1:00

What Ryan? Roger?

Ian Arnold: 1:01

Well, people don't know you're you're practicing for 10 minutes before the show's Hey, just go Hey, you.

Rick Ripma: 1:11

And you're with Compass.

Ryan Rominger: 1:12

Yeah, I'm with Compass. Yeah, just say, Hey,you I want to buy a house. And I'll respond. Yeah. That works

Rick Ripma: 1:19

as well as anything,right.

Ryan Rominger: 1:20

Yeah. Yeah, it works.

Rick Ripma: 1:22

Awesome. Well,thanks for joining us. We really do appreciate it.

Ryan Rominger: 1:24

Yeah. Thanks for having me. Appreciate it. And

Rick Ripma: 1:27

how what did you do before real estate? Where were you born? Where we raised? You know, kind of your story before real estate?

Ryan Rominger: 1:33

Yeah, so had had a couple of different roles before real estate. different careers. I guess. I actually. So I went to college for business.I majored in economics. And right after college, my first kind of adult job, I worked for Jimmy John's, actually, I was a franchise auditor for them. So my job was to kind of travel around the greater, you know, in just pretty much most of the state of Indiana. And I would audit stores and make sure that they were making sandwiches correctly, and, you know, check their books and check their cleanliness. And so that was what I did, for a while after college, eventually got to the point where, you know, I was happy, I learned a lot. But I,you know, was I didn't want to really build my career in the restaurant industry. So from there, I actually went into logistics, I worked in the logistics industry for a while,ended up spending a couple of years working for a freight brokerage in the pricing and analytics side, so I was just spending my time looking at spreadsheets and, and, you know,putting together you know, RFPs for for, you know, companies like Nestle and you know, just just different pricing for different trucking lanes and things like that. And that was another interesting industry I learned a lot from but ultimately, I think I kind of just had the itch for entrepreneurship. I wanted to own my own business. And I was really interested in what was going on in Indianapolis real estate. So 2018 got my real estate license, actually launched a property management company at the same time. So I do that, in addition to being a licensed real estate agent, and yeah, that was, that was kind of what got me to it. Now, where

Rick Ripma: 3:36

did you go to school for economics?

Ryan Rominger: 3:38

So I went to Liberty University. Central Virginia. Yeah. Yeah. That was a great experience. met my wife there. Yeah, so it all worked out. It all worked out. That's actually kind of what got me to.My wife is originally from Greenwood. Okay. That's kind of what got me to the central Indiana area.

Rick Ripma: 3:57

So I got asked what the world's going on with our economy right now.

Ryan Rominger: 4:03

And it's a great question. I may have majored in economics, but I wouldn't even call myself an economist. You. I don't think they are either.Yeah.

Rick Ripma: 4:19

I have to answer that. I just

Ryan Rominger: 4:21

Yeah. I mean, all I can say is interest rates. I would like them to come down.Yeah. I think a lot of people feel that way. It's,

Rick Ripma: 4:29

it's just it's a bizarre time. So you did that.How did you end up in real estate? And then also, how did what you did before? How did that translate and transfer over to Real Estate help you? You know, do so well, in real estate?

Ryan Rominger: 4:47

Well, so my wife and I bought our first home in2016. So that was when I was still working in logistics. That yeah, that had had a pretty positive experience with our real estate. didn't know, no complaints. But I was I was one of those clients that was I was so fascinated with the process.Like, I'm asking all the questions like, outside of like,you know, the purchase we were making, I'm like, so how to agents, like, get paid how to,you know, how does this, like,how does this all work, I was just so fascinated by you know,because it's just just not something like my, my parents,like, owned, owned their own home. And, you know, I've known people that own house, but it's just something you don't like, I was never really introduced to it, you know, as a kid, like,kind of how the home buying process works. So I was so fascinated by it. And then that coincided with, you know, over those couple years, like leading up to, when I finally got my license and got started in real estate. It was so fascinating to me, just looking at what was going on in Indianapolis real estate and how much the market was growing, how many people were moving to, to Indianapolis,and people buying properties and renovating them, you know,flipping properties. And, and,you know, just the amount of growth that was happening in the market. Plus I like I'm originally from California, all of my immediate family is still out there. And so I'd hear them talking about like, you had to bedroom cost 700k Now, and then I'm looking, I'm here in Indianapolis, and like, you can get one for 100k here, you know,so just this huge disparity I'm noticing between the prices of houses, like just across the country. And yeah, that was so interesting to me. And then the name of our property management company is actually intrigued Andy, and that's where the name kind of comes from is like,yeah, it's just it's such an intriguing. You know, it's intriguing what is happening in real estate, not just in Indianapolis, but But you know,across the country. So I just, I couldn't stay away from it.

Rick Ripma: 7:02

So how much property Do you have under management?

Ryan Rominger: 7:06

So we've managed a little bit over 400 units.Wow, currently,

Rick Ripma: 7:09

that's incredible.400 single units, are there,their doubles? Are their apartment buildings? What all is

Ryan Rominger: 7:15

all the above?Yeah, we. So it's mostly single families, and then smaller,multi, smaller multifamily. So two through four units. But we manage a couple of apartment buildings. We've got a 14 unit in Irvington that we manage a couple of like a 20, and a 22.unit apartment building. So some smaller in the world of apartments. That's, that's on the very small side. Yeah.

Ian Arnold: 7:43

So I do have to ask,what's, what's the benefit,let's say if I had three or four rental properties, going through a company like that, what's the benefit?

Ryan Rominger: 7:53

Yeah, working with a property management company. So there are a lot, I mean, what maybe the more obvious would be like, you could just be more hands off, you know, you're not, you're not the one receiving the phone call if,you know, the toilets, not working in the middle of the night. So dealing with coordinating maintenance, that's one of the responsibilities of your property manager. So they take care of all that for you.So you can kind of focus on other aspects of your life. Many of our clients like they hire us, because they have investments all over the country, they don't want to be responsible for, you know, being the, the go to, you know,maintenance operations person for all of those properties. So,being able to hire different property managers helps them to really manage their business as a whole. It's, you know, so that's a, that's a big part of it, some of our clients still like to be pretty hands on, but they, you know, really enjoy getting to lean on us for our processes that we've got in place. So, you know, we've we've developed processes over, you know, a long period of, of operating and we know what works and what doesn't, and so kind of having that professional advisor, that's that's there in the market locally, that that's a big reason.

Rick Ripma: 9:20

I personally think it's, it's kind of like hiring a real estate agent. I think it doesn't cost you any money to hire an agent. I think you actually make money. If you're gonna sell your house, you make money by hiring a professional guru real estate agent, because they know how to price it. They know how to negotiate, they know how to work out your inspection responses that there's just so many things that they know how to do. And I look at it the exact same way I had rental property years ago, and the only time I made money was when I hired a property management. You would think you'd make money because you aren't paying the property manager but the reality is, they they priced it better than I did. They knew how to price it they knew how to rent it. They they took care of the maintenance. It was it was the best. I mean, it was the only time I ever made money. Yeah, it was the only time it worked.

Ryan Rominger: 10:07

Yeah, it's true.And And honestly, it's one of the sort of, I think the it often goes unnoticed with, you know, the best property manager,you may not even notice the value that they're providing.But what, you know, what, what often happens is, there's when it's the context of it's a single family home, and a tenant leases it from a private owner.And yeah, they they have the lease agreement signed with the owner, they have the owner's cell number, you know, if anything goes wrong with that property, I mean, the most minor, like the door isn't shutting the right way. Like that owner is getting a call.And and that tenant might be blown up that owners phone or it might set, you know, you might get to the renewal. And then it's, you know, I don't really like these kitchen cabinets all renew, if you replace the kitchen cabinets, and you get these sort of like, like tenants trying to make deals, which is,you know, I understand. But that tends to just happen less if a property management company is involved. Because it's just the recognition of like, oh, this company probably has processes in place, and, you know, is, you know, I'm not going to be able to, you know, sort of finagle something to work in my favor.So, you know, that just the context helps helps a lot to sort of have that buffer.

Ian Arnold: 11:34

Yeah, I mean, it takes the emotional state out.So where the most most people would be like, Oh, you're on rough times, I understand. I'll give you a month. When you have somebody like a company, it's like, no, you're due,

Ryan Rominger: 11:48

let's go. On the first, always.

Ian Arnold: 11:51

So take that emotion out, which is nice, especially for the person who owns the house, actually. So yeah. So I know that you had a different career to start, How'd you even get going? I go everything. Most people are like, Oh, my parents showed me the way and stuff like that. So how did you end up get going? So

Ryan Rominger: 12:10

it's interesting,I grew up around my dad worked in construction management. So and for kind of bigger projects,but yeah, he like renovated our house growing up and stuff. So I like I got to see a lot of, you know, at least the physically how a house works grown up. So I had that exposure to it. So I think that gave me some confidence for in terms of like getting into real estate and sort of having that that construction knowledge base. I also have an uncle who's like a,he's a real estate developer.Out in the, on the west coast.And I worked for him for a summer like, you know, hanging drywall in these, like strip malls in Fresno, California. So that was, so I've had some experiences that that definitely helps, like set a foundation.But But really, I you know, we definitely live in a world where entrepreneurship can be very hard to get started in. Yeah,like you hear about tech companies doing like round multiple rounds of funding. And it seems like you have to go from zero to 100, like really fast, just in order to be successful. And I really wanted to find a business that I could start organically and just like have a couple of clients and then have a couple more clients.And just and, and I real estate was the only thing I landed on that I was like this is I can I can grow a business here. I can add value to, you know, to a couple of clients from day one,you know, and work really hard and just then just slowly grow this business. And that's exactly, you know, what I was what I was looking for.

Rick Ripma: 13:52

So did you have rental property when you started or did you?

Ryan Rominger: 13:56

No, I didn't. So by that time, my wife and I were actually we were on our second home that we had we had. So we sold the first one, which, you know, it's it's not that I regret it. But I'll probably never sell a property again if I don't have to. Just because like, you know, we need properties. That's true. That's true. Yeah. Definitely. So but I mean, I'm also like, I'm a big Yeah, when I when I sit down with people that are especially right now, like with where interest rates are, you know, I do i I'm always like straight up with with sellers, I say if it were me, I'd be looking at what it could rent for and what it could sell for. And you have both options. And if you have a2% interest rate, you know,maybe hold on to it and you know, turn it if your mortgage is $1,000 a month and you can lease it for close to 2000. You know, you're you're in the money and there's a lot of people that are in that situation. So you know when So when I'm talking to buyers that are just like, why why is our prices not going down when it's so hard to buy a property? That's why, like people are locked to their properties and yeah, they're they're low interest rates and like nobody wants to sell. So it's Yeah, so the economy,right?

Rick Ripma: 15:18

That's not back on me that somebody wanted to maybe buy a home sell a home or maybe they're looking for a property management company. What is the best way to get a hold of you?

Ryan Rominger: 15:28

So, yeah, all the above I mean, you can reach out to me and my my cell number. I can give that here's317-935-0075. Or feel free to shoot me an email. Ryan dot rom injure@compass.com Robin jurors AR o m i n g AR. So yeah, email phone. You can visit us on our website, neighbors dot team.That's not.com Just neighbors dot team. is the place to write one by the way. First thought team. Yeah, that's us neighbors home team. Yeah,

Rick Ripma: 16:07

that's that's a great one. And to go get a hold of Ian or I, go to HardWorkingMortgageGuys.com That's HardWorkingMortgageGuys.com Or you can call 317-672-1938.That's 317-672-1938. And thank you for listening to indies real estate gurus. The guru's we interview share valuable insights they reveal their strengths, personalities and how they'll work for you. Well, we hardworking mortgage guys,secure your best mortgage, real estate gurus work hard to, they avoid problems the amateurs just don't see they listen, they find unrealized opportunities. If you're buying or selling a home a real estate guru is a valuable asset. If you're even thinking of buying or selling a home,keep listening and definitely call one of India's real estate gurus.

Ian Arnold: 16:51

Alright, so we're gonna take a little sidestep,let's get to know you more. So let's say I take away your phone for 24 hours you cannot work after you get done having a heart attack. What did we catch you doing for fun?

Ryan Rominger: 17:04

I just will if I could just sit in that headspace for a second I I would love that take my phone away for ya know,I mean what what I like to do for fun. I actually don't get to do this a lot out here but I'm actually pretty into snowboarding. So at least like once or twice a year we try to go find a mountain with some snow on it. And so I really do enjoy snowboarding. I grew up doing that you know from being from the Central Valley in California there we were just a couple hours away from some some ski places. That's the cool

Rick Ripma: 17:47

part one of the cool parts of California is yeah you're two hours from the slopes and you're two hours from the ocean or less you know

Ryan Rominger: 17:54

it's true I mean like I think yeah, I tell people I'm from California and I I often get like you know so beaches right you're like a real beach beach kind of guy and I was like no I'm the mountains are really what I miss more is like getting up to the high elevations and snow. But yeah,snowboarding is a is a hobby. I mean, my wife and I we both love coffee so we just love checking out a good coffee shop. That's a that's one of our are Happy Places for sure. Hot or cold.I'm a cold coffee guy. I'm always getting iced.

Ian Arnold: 18:25

Yeah, that's that's Same here. I can't stand hot coffee and cold coffee or iced coffee. All so good.

Ryan Rominger: 18:30

Yeah, yeah. Yeah.It doesn't matter the time of year. Yeah. 365 days of the year. I'm getting getting nice coffee.

Ian Arnold: 18:37

So my brother got into snowboarding he was in he's in the Air Force and got stationed in Japan and got into snowboarding. He says that's the best he's ever had was in Japan.So where do you find like one your best spots?

Ryan Rominger: 18:49

Well, so I I've got I got to stay true to my my,my my origins here, which is not actually so my dad's side of the family is all from Colorado. So every once in a while we take a trip out to southern Colorado,which is like that's not Denver.It's like it's kind of hard to get to. But we would go to my dad's family has a cabin along the Rio Grande River in outside of South Fork, which is like 15minutes from Wolf Creek ski area and they're probably by by like number of people every year they're probably they probably do some of the lowest numbers out of the any of the places maybe I'm blowing up their spot a little bit here but but they they are they have the most snow of like they just they just get dumped on that something about that where they're located. But it's just it's a great place to go find like fresh powder and it's not like going to be there.The number of runs and stuff they have. It's it's not as big as like a veil or a Breckenridge Ridge kind of place. But they're, I mean, it's just it's awesome. It's it's fun place.

Rick Ripma: 20:10

Yeah. I've never been snowboarding. And I don't like coffee but

Ryan Rominger: 20:17

so much in common.

Rick Ripma: 20:19

No ski. But snowboarding was just like when I was young snowboarding was not a thing yet. Yeah, yeah, I will say this. I think it's one of the most interesting things to watch. I think you're crazy.Yeah. The things people can do on a while, even on skis,people, it's unbelievable what they can do and will do on them.

Ryan Rominger: 20:42

Yeah. Well, it's so it's so funny that like, you know, snowboarding is kind of like the, it's the rebellious thing. Like back in the 80s. It was like, it was the new you know, like, there were that was a big thing. It's so many mountains like, no snowboarding allowed, just because it was it was associated with, you know,rock and roll and in drugs,like, it's just like, it's just,you know, was my era. Yeah. I mean, I've watched the documentaries. But it was funny,because I've heard I hope I'm not getting his name wrong. But I think Travis Carpenter, the guy who started Burton Snowboards, he taught like I've listened to him tell his his story about like, starting Burton Snowboards, and like, he was hand making these these snowboards and like selling them out of the back of his, his trunk, like at ski areas, like,and, and, and the, you know,kind of the resistance they just got hit with. And it was, you know, it's like, there was a big industry around skis and stuff.And like, you know, people just didn't didn't like the, the change, but. But it's always been interesting to me that like snowboarding is seen as, like,sort of the more the more crazy compared to skiing. Because it's like, it's way easier to get hurt on skis. Like, because,yeah, like, skiers, like can twist their ankles, like so he's because your your legs move independently. So you get all sorts of knee injuries and stuff like and you know, the bindings are now they're kind of made like you pop out of them. So probably doesn't happen as much,but you can get I, I sort of have the opposite. I almost have like the fear of like, like,because I can ski too. I've been on skis, but I've sort of had the like, you know, like,whenever I'm on skis, I'm nervous. I'm gonna like blow my knee out. Whereas like snowboarding, it's like, you're all you're on one. Like you're bound to the board and your body kind of moves together. Your legs stay together. Okay. That's always been interesting to me.Like I literally feel like more safe on a snowboard compared to skis.

Ian Arnold: 22:50

So this winter, how about you take Rick and you take them snowboard?

Ryan Rominger: 22:55

I'd love to do that. Yeah.

Rick Ripma: 23:03

Okay, I have never had bow.

Ian Arnold: 23:06

There's, there's bunny slope, sir, you can start on the bunny slope.

Rick Ripma: 23:10

Listen, I'm guessing it's harder to stand up on a snowboard than it is on skis.

Ryan Rominger: 23:18

Well, it's, uh,it's not that hard to stand up.It's staying up. That's the that's

Rick Ripma: 23:32

that balance?

Ryan Rominger: 23:33

I mean, yeah, I think balance is is certainly a thing. You know, keep your knees bent, that kind of thing to, you know, but you know, you kind of you go from edge to edge. What's it What an interesting thing I always sort of like compared to compare snowboarding to skiing.I have such an like, so when you're talking about like a beginner or intermediate level,snowboarders tend to have an easier time with really steep terrain. Because with snowboarding like you it's actually really easy to stay on an edge on one side of your one side or the other of your board or a skiing it's really easy to stay flat. Whereas snowboarding that's a really uncomfortable position actually like so like they call them the catwalks like so like the when usually when you finish like a kind of an easier like green circle run,there might be a catwalk so just a long, barely down like barely graded long stretch to get you know back to kind of the base camp area. And riding on catwalks on a snowboard is is so hard because you're just like trying to like not go one direction or the other. Were skiing like that's just like the most relaxing part of the day.Right? But snowboarding you actually feel way more comfortable when you're on a mountain that looks like you know, like an angle 45 degree angle

Ian Arnold: 24:59

yeah cuz 90 degree angle up on one.

Ryan Rominger: 25:03

Yeah, maybe 45I'm not that good. I don't want to.

Rick Ripma: 25:09

I watch the skiers and snowboarders when you see him out in the middle of nowhere and the things that they'll do and jump off cliffs basically it's just crazy.

Ryan Rominger: 25:18

Yeah, yeah, it's wild. People take it to the to the extreme. I guess that's the way they call it. Extreme sports.

Rick Ripma: 25:24

That's yeah. But now we know what he would do. And it sounds like fun for you. And him doing it.

Ian Arnold: 25:31

I got a young kid.We can do it later. Yeah. Talk

Rick Ripma: 25:34

to him about it.

Ian Arnold: 25:37

Actually, my daughter more than my son. Well,that's just weird. Yeah. Well,

Ryan Rominger: 25:41

although largest,largest fun to hang out with.

Rick Ripma: 25:45

There's if they're small enough hills in Indiana to do it. I'll do it. I

Ryan Rominger: 25:49

think there is there's a place outside of like Cincinnati. That's what I'm perfect north. People go down there a lot. It's like it's all fixed now. But it's it's a hill

Rick Ripma: 25:59

when I was when I was younger. The first places I skied was here in Indiana, right in Ohio. And and then I went to Colorado. And I will say it was much easier to ski in Colorado than it was in Indiana. Because the SLUBs are very small in Indiana. Yeah. And there's a billion people on them. Yeah, it was dangerous because of all the people so I'd much preferred,you know, copper and Keystone and Breckenridge I'd much prefer those those

Ryan Rominger: 26:27

areas. Yeah, it's so much easier to ski or snowboard on on fresh good snow versus like, like icy or hard packed snow. Like that's, it's like, it's like trying to, you know, it's grass versus concrete, you know?

Rick Ripma: 26:44

Well, if somebody wanted to get a hold of you for real estate, or you know, for buying, selling, maybe managing their properties, what's the best way for them to get a hold of you?

Ryan Rominger: 26:54

Yeah, so they can feel free to call or text me anytime. 317-935-0075 Once again, that's 317-935-0075 They can also feel free to shoot me an email. I've got a compass email, it's just Ryan dot Robin Jarrett compass.com Or they can also email me at Ryan just ry A n at intrigue. pm.com That's our our management website is intrigued pm.com So they can find us there as well.

Rick Ripma: 27:26

Perfect. And to get a hold of enter I got a HardWorkingMortgageGuys.comm That's HardWorkingMortgageGuys.com Or you can call 317-672-1938.That's 317-672-1938.

Ian Arnold: 27:39

All right, so now we'll just get into the question of the week and the question of the week is much more Hey, Rick and I the hard working mortgage guys, where we believe in helping and supporting you and your realtor by sending constant updates through your loan process. We don't like living in a black hole so we do not allow you to Alright, so here's a tough question. What was your first car?

Ryan Rominger: 27:57

My first car? So it was a it was a Lexus. Which sounds sounds better than it is?It was a part of that's good. It was a Lexus. I want to say ls400 I know is an LS, but I don't think it was ls 400 Yeah, it was a 1994 Lexus LS 400. So if you if you I don't know if you picture what one of those looks like, but it's like it's like the it's kind of the old it's the 90s like boxy. Yeah, Lexus like square lights in the front.Very pretty, pretty gangster car. Pretty bad. Pretty bad.Yeah, it was you know, it was like my, my parents like they loved Lexus. They they had they had that car. That's the car my mom drove for a long time. And then when I turned 16 You know she she got like a new es 330And I got the old ls 400 But that was it. That seems fair pulling up to high school in an Alexis

Rick Ripma: 28:57

cool because it was Alexis or were you not cool?Because it was 400

Ryan Rominger: 29:03

I don't know if the Lexus helped or hurt. I don't know how cool I was in high school. cool enough. I got by. Yeah.

Rick Ripma: 29:17

That's a pretty good car. It's just a nice car to drive. Right?

Ryan Rominger: 29:21

Yeah. Yeah. I mean, it held up fine. Well, so it's funny. It was fine all the way through driving through high school and I left for college.And my parents still held on to it. It was sort of just like,you know, they're just extra car. And one summer it was actually the summer I was working for my uncle construction up in in Fresno.But I was driving back and forth from Visalia, which was like this 45 minute drive. And it was one of the days driving back like totally broke down on the side of the interstate on the 99down there, just, you know, it had like had a bunch of blown hoses or something.

Ian Arnold: 30:02

All right now I know you're lying Lexus's do not break down.

Ryan Rominger: 30:06

I mean after this was what 2030 is, I mean, it had like a 20 year run it did. Okay.But yeah, it was pretty much toast after that. I think they tried to fix it a couple of times. But yeah,

Rick Ripma: 30:19

yeah, I was pretty impressed with them. Because most of the stories were not most a lot of the stories we hear. It's, it's Oh, yeah, I had that car was great car. We had it for six months, and then I totaled it or that it blew up or not to put oil in it. Lots of things. Yeah, kids forget to do as they move on to more real estate. So what would you say your superpower superpowers are?

Ryan Rominger: 30:44

So I would definitely say what what makes me unique as a real estate agent is I really try to take a very well rounded approach to, to working with buyers and sellers.The fact that I work in property management leasing. In addition to helping people I've worked with first time homebuyers, I've worked with investors buying their 20th property like so I've worked with all ranges of experience level when it comes to buying and selling. And like specifically, like when I'm working with a seller I mentioned earlier, like, I really try to just paint a picture of what, what their all of their options are. So that's always what I want people to know, I want people to be well informed when they're going into any transaction. That's what like, I would want to be well informed if you know if I'm in that position. So. So that's really the unique thing I try to bring I take elements of leasing and property management, and that informs my how I help people in real estate. And the way I help people in leasing and property management. i i You know, I'd take information that I've learned from helping people on real estate transactions. So yeah, it's it's not just about what it can rent for. It's like,you know, let's consider resale too. And you know, all of those elements, they just go hand in hand. Oh,

Rick Ripma: 32:09

it makes sense. I never thought of before. But if you're showing people properties to buy, you hear everything that they like and don't like so you hear the consistencies. So then you're going to somebody looking to buy a house to rent, the renter is going to be looking at pretty much the same thing a homebuyer is going to be looking at, right?

Ryan Rominger: 32:27

Yeah, yeah. Well,there are differences between kind of renters and homebuyers.Cosmetically, they're looking for a lot of the same things. A renter is not necessarily going to care how old the roof is,because they don't have to pay for it. If it's if it's done. So there's some, you know, buyers might care more about the mechanicals of a property. But I think it's, you know, it's, it's interesting, I if you, you know,you're talking to a real estate agent, and they say like, I only help people buy investment properties, like I would I would run away. Because if that's true, then it's like, well, if you're talking to me about this investment property to buy, like if I'm an investor I care about,you know, after I fix it up, how much is it worth? And what's the best strategy? What should I do on the renovation to kind of maximize what I can sell this property for? You know, and what's, what's the best strategy for selling that. And if I'm working with an agent that, you know, has never sold a, you know, a property that's, you know, ready to be owner occupied? That's, you know,that's, we call it like, retail ready, you know, that's ready to sell for top of the market, the agent doesn't have experience in that, that they're not going to be able to inform you as well,you know, kind of on the front end of that investment. Yeah,

Rick Ripma: 33:43

I think it's vital that the especially for for an investment, somebody's buying an investment, they have somebody like you who knows both sides,and knows investment properties,because to me that even just even if they don't have you manage it, the advice you can give them the knowledge you can give them to help them if they do make a property like that.And on the other side, it makes sense if I'm buying a house to have somebody like you, who knows, okay, I probably should not sell this house, maybe, you know, maybe I'm better off renting it, you know, at least you can look at it and make that decision.

Ryan Rominger: 34:18

Right? As you know, the the every situation is different, right? You know, I would never judge somebody for if, if they've got, you know,positive appreciation and they're in a good equity position our property, you know,if they want to sell and use that money for something else like that, that's the beauty of homeownership, they have the freedom to do that. I just want my clients to be informed of like, you know, if you didn't want to lose that interest rate that, you know, we may never see again. You know, here's here's how you could potentially hold on like I just, you know, I would want to know I had that option if I were in that position.

Ian Arnold: 34:55

So, what would you say if somebody is looking to try to find it? Agent, what kind of type of characteristics or traits? Should somebody look for?

Ryan Rominger: 35:05

honesty and transparency? That's the the biggest thing, you know, just working with an agent that you feel confident you can trust and that they are they have your best interest in mind. You know that? That's going to go a long way. Yeah, and, and also just experience overall experience,the more types of transactions the the agent has, has been through, the better they're going to be able to help if you go through something similar. So that's not that's, that's what I would always always recommend looking for is you want somebody who's, who's who's seen some things.

Rick Ripma: 35:50

Yeah, the more experience they have the better or have a team that, that the mentors, because nobody's seen everything. Now, the longer you've been in it, the more you've sold it, that even length of time isn't necessarily that important, as important is how much volume you do. But as long as you have a team around you like you do that, if you haven't seen it, there's probably somebody you can ask that saying it.

Ryan Rominger: 36:15

Yeah, yeah,exactly. Like, and that. So you know, when I say experience, it doesn't mean like, I always want to, I always think about like,the first or second year agents that are like, Come on, don't tell people that like, like,they should work with me. But But no, like, there's some great reasons to work with, with agents that are in their first or second year in the business.But they should have, you know,you should ask them, you know,what's the support system you have behind? You know, and, and they should be able to tell you,you know, if we've got any questions, you know, here's,here's how we can get answers.Yeah, that makes all

Rick Ripma: 36:47

the difference. I think you're uniquely qualified to answer this next question.We've asked a lot of people, but what what do you as you look at,you know, the value of buying a home not, you know, financially,but somebody is looking to buy a home, what would you, you know,what is the financial and maybe the, all the benefits people receive by by being homeowners,

Ryan Rominger: 37:12

there are so many. But to start with, I mean,you're building equity, which sounds like kind of like this buzzword. But I think sometimes like people that have never owned a home or, you know,haven't really heard that defined like, understand, like,what does it mean to build equity, it just means you're paying down your you start your home with a mortgage, that's at a fixed amount, you know, maybe have 200,000 left on it to pay down after your down payment,you're working that number down,while the value historically has will steadily increase. And it might have some little, you know, peaks and valleys, but overall, over a span of, you know, two to five years, you're the value of your your home,that's you bought for 250, maybe it's 270 than 280 and 290. So it's going up in value, while the amount you owe on it is going down. And that difference is that that is your that's what we call equity. And so that's what you you own. And that's huge, you know, because that's not happening when you're renting. So if you're renting a property, you're just paying money to the landlord, every month, you're never gonna see that money again. And then when you move, you've you've got no equity to take with you into the new place. So, financially, I think that's, that's one of the big ones. And what I think that's kind of the the, I think the one that always gets mentioned as like the financial one. But I think the other big one is security, the fact that you know, you know, young people here 30 year mortgage, and I think they get scared, and they're like, oh, I have to pay this for 30 years, no matter what, no, you can still sell the house. And you know, if you're in a positive equity position,like you know, you still get proceeds from the sale, and that whole loan just gets paid off through the sale. But what's great about a 30 year fixed mortgage, yeah, is that you are you're able to continue having the same payment for 30 years,which is never going to be the case with renting. So if your rent is 1200 this year, and you could have a mortgage, that's also 1200. You know, this year,in five years from now, your mortgage is 1200. And that rent is probably 1600. You know, it's the rent slowly goes up, Ryan,you're never going to have security when you're when you're renting a property.

Rick Ripma: 39:44

Yeah, and you don't have the same I don't know from everything. I've I've seen it a bit, you know, years ago, being a renter. You don't have the same emotional attachment to a rental property that you knew

Ryan Rominger: 39:57

you're a guest Yeah, you live in somebody else's Property and, and you're paying them so that you can do so.

Rick Ripma: 40:03

Although I've seen people who are had people who've, you know, rented for 30years. Yeah, property.

Ryan Rominger: 40:08

Yeah. I mean,it's so common and really big cities like New York, Chicago,LA, like, it's not uncommon at all to you could be doing really well financially and still be lifelong renter and, and knowing that I think that living in a place like Indianapolis where,you know, the cost to rent a property compared to the cost to buy a property, they're so comparable. Like, if if you you couldn't do the same thing in New York City or Chicago? Yeah.So knowing what a unique sort of opportunity that is like that,that to me gives me the perspective, I need to be like,Oh, we get to own property here.That is awesome.

Rick Ripma: 40:53

It's not that way in California, right. i From what I understand in California, it's it's a, it's a market that the prices are so high that you can't really rent it and and have a profit.

Ryan Rominger: 41:06

Now. Well, yeah,if you were to buy a property as an investment in California, you you wouldn't be cash, we call it like cashflow positive, right,you want to be cashflow positive, renting it. in markets like that there are still people buying investment properties or you know, oftentimes they're doing like developments,multiple units. And instead of calculating things in terms of how much positive cash flow do I have, each each month, it's how many years until I have positive cash flow. Because they just project rents, you know, they know, rents are inevitably going to increase each year, and their their financing is going to stay the same. So they just buy properties in anticipation of they're going to be losing money each month. You know, until they get to that point where rents have passed with their so

Rick Ripma: 42:02

okay, and they must be working off appreciation.

Ryan Rominger: 42:06

Well, and then appreciation too is the other benefit of you know, like buying buying properties in markets that don't have positive cash flow there. Yeah, they might be banking off of the appreciation being enough to satisfy. Yeah,owning the property.

Ian Arnold: 42:24

All right. So I have a good question for you. What do you think your most memorable deal was? Or most memorable?Property Management story is?

Ryan Rominger: 42:36

Wow. Most memorable deal.

Ian Arnold: 42:43

I stumped them.

Ryan Rominger: 42:45

Now, there's just so many. I remember them all.I'm just trying to think, yeah,what's the what's the best story I well. I'll always remember, I had a local client that live lived out towards Speedway area.And he was kind of a local investor, he owned like a bunch of properties, three of them were in a row, all all out in Speedway, kind of along like Crawfordsville road. And then he had this duplex in Ransone place. So kind of the west side of downtown. And I had had the privilege of I was able to slowly help him sell, you know,all of those because he was relocating for work out out west. And it's always gonna be memorable to me, because it's like, I helped him sell all these investment properties. And he was, he was so smart to you know, to buy these properties at a good time. And he was in a good position. He was, you know,operating them as rental properties. good position to sell each of them. And by the time he sold all of them, he had just enough to buy a five bedroom house in in Utah. So I was like, that's about and I mean, and he was totally, you know, content doing that, but I always think that's funny. Yeah.So literally sold four properties and to get one to get one. Yeah.

Rick Ripma: 44:34

Different and values, right. Yep. Yep. So what would you say? The misconceptions people have of being a real estate agent. That makes sense. Yeah.

Ryan Rominger: 44:49

Well, I I think it's almost a you know, and it's like if I weren't if I didn't work in real estate, I think I would enjoy like HGTV. Your or your selling sunset is like, you know, the big shows like about real estate. But I, I can't I almost can't watch them like being a real estate agent just because I, you get so like,like, there's so many misconceptions they're putting,you know, so many of these shows put out like especially like selling sunset where it's like,you know, oh, it's like, being a real estate agent is mainly about how you dress and showing up and you know, you're, you're all we're always showing luxury properties, right? It's no,it's, uh, you know, you can, and what's funny is like the way like I'll go from, like I this should have maybe been my funny,memorable real estate experience. But like, I'll go from showing a $1.5 million house on Geist reservoir to, you know, walking 100k distressed property, like on the north side of downtown, like, you know,it's, that's just the life of your, you know, if you're working in real estate, and it could be for the same client,that's the crazy thing is like,you know, I've had investor clients that, you know, I'm helping them buy these investment projects, but then I might help them by their, their personal residence as well that's a, you know, a nice condo downtown. So, you know, it's,when, if you're a good real estate agent, you're here for the needs of your clients. And so I think that, from the outside people have like this perception that real estate is always like, Oh, you pick your niche, like, I'm gonna be a luxury realtor, I'm only gonna sell luxury real estate. And there might be agents that are they kind of operate that way but I think even agents that have a certain niche that they serve a lot of, they do all of it. Like all that's the honest truth is like they're like everybody's you know, you want to experience every kind of you know, at least within residential right you're you want to experience every kind of transaction. Yep.

Rick Ripma: 47:05

So if somebody has any real estate leads they want to buy sell they want use your property management company,what is the best way for them to get a hold of

Ryan Rominger: 47:12

you? So they can reach out to me? Phone phone is easiest. Call or text me317-935-0075 That's my cell number once again, that's317-935-0075 they can visit our website our property management website is intrigue pm.com and our real estate team website is neighbors dot team. So no.com just neighbors dot team or feel free to shoot me an email Ryan at intrigue pm.com or Ryan dot rom injure@compass.com You got a lot of things I got a lot of yeah one on there you should see my my computer I've got like two Chrome browsers up at once.

Rick Ripma: 48:00

Switching between screens Do you have you must have multiple every now

Ryan Rominger: 48:03

well i for good because I have like the three screens on my laptop below.

Rick Ripma: 48:07

A fan. That's what I got. So and to get all of the inner I go to HardWorkingMortgageGuys.com That's HardWorkingMortgageGuys.com Or you can call 317-672-1938.That's 31767 to 1938. And follow us for more indies real estate gurus

Ian Arnold: 48:24

and reminder if you have any friends family covers looking to buy, sell or refinance contact us we'll be more than happy to help you.Ryan, thank you. Thank you for joining us on our show. It's been a pleasure having you on.

Ryan Rominger: 48:35

Yeah, thank you for having me, guys. This was fun. It was great. We

Announcer: 48:38

We appreciate it.Brent NMLS number 33041Recruitment NMLS number 664589.You know Arnold's NMLS number is1895469 equal housing opportunity. Some restrictions apply