Real estate investment company New Western has opened its first office in Indiana. New Western says Jacob Spain will serve as the general manager of the Indianapolis office.
New Western works with local real estate investors who purchase properties, make repairs, and then sell or use as rental properties. The company says it plans to revitalize $437 million in residential properties in the Indy market over the next five years.
“Indianapolis is a hot market for investors to consider because approximately 75 percent of homes were built before 2001,” said Kurt Carlton, co-founder and president of New Western. “New Western specializes in finding and acquiring distressed or aging properties that need to be repaired or rehabbed. We provide exclusive inventory for real estate investors to evaluate and purchase in a matter of days.”
Spain started with New Western in 2015. He was previously GM of South Dallas.
“I’m looking forward to opening a new state location for the company’s strategic expansion,” said Spain. “We are actively recruiting people to join our team. We provide training, mentorship, and tools to help new agents hit the ground running. New Western agents average 29.2 transactions per year, roughly nine times the industry average of just 3.3. This is an incredible career path for people who are willing to learn the business and looking for advancement within their careers. I’m just one of many examples of General Managers who started out as sales agents and have been able to grow with the company.”
New Western says the expansion brings its total number of offices to 42 across 18 states.