Oceanpoint Investments LLC

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Oceanpoint Investments LLC

Katie Drab
Owensboro, KY · Member since 2017 · 5 posts · 2 votes

Hi All!

My husband and I just purchased our first out of state rental property from a turnkey co in Indianapolis. The management co they use is Oceanpoint Investments LLC. Has anyone had any experience working with this management co and if so, would you recommend them, or is there a different management co in Indianapolis that you would recommend? Any and all feedback would be greatly appreciated!

Thanks so much!

Katie 

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Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
9y

a morris invest home ???

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  • Jeff Wallenius
    Specialist · Indianapolis, IN · Member since 2014 · 670 posts · 352 votes
    9y
    Katie Drab I would recommend Eric Gaudio without hesitation for PM in Indy! Eric does a fantastic job! Let me know if you need additional details.
    0Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    9y

    a morris invest home ???

    Podcast Guest on Show #222
    JLH Capital Partners51 Review
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    5Reply
  • Katie Drab
    OP
    Owensboro, KY · Member since 2017 · 5 posts · 2 votes
    9y

    Thanks so much for your recommendation @Jeff Wallenius! I recently listened to a BP podcast about out of state investing where the featured guest recommended hiring a third party, with feet on the ground, to validate the work of the PM. Would you recommend doing this and if so, would you suggest hiring a second PM, contractor, realtor, etc. to perform this role?

    Hi @Jay Hinrichs! Yes, it was a Morris Invest Property. We've been in contact with them since the beginning of Dec. They've sent us 5 different properties and we finally decided to take the plunge. We agreed to purchase just yesterday so we haven't even closed on the property yet. Fingers crossed all goes smoothly. 

    0Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    9y

    Katie prior to closing you may want to read the extensive threads on BP about this company and for sure check with other property managers or real estate agents in the market and get a second opinion about the specific property your purchasing.

    it appears from what others have said on these threads that Morris sells D class and I can tell you as one with extensive experience in the space.. you must be very careful.. generally speaking these properties are not appropriate for out of area buyers..

    and most management companies won't touch them because of the tenant base..

    Caveat emptor  10X with these properties ..

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  • Ronn Johnstone
    Indianapolis, IN · Member since 2017 · 30 posts · 5 votes
    9y

    @Katie Drab -- @Jay Hinrichs will no doubt respond in short order, but YES have someone you trust look over the property first. There is a  thread--someone help her out-- about a young investor from CA working with them Morris right now. Connect with him. PM me the address and I'll shot some pictures of the place and the area if it's not too far out. 

    Hope that Helps,

    Ronn

    2Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    9y

    @Ronn Johnstone  too funny I beat you by 7 minutes.... LOL.

    I would suspect Katie will do some due diligence prior to pulling the trigger.  Or at least I hope so

    Kaite by all means take Ronn up on his generous offer..

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  • Diane G.
    CA · Member since 2016 · 1k+ posts · 1k+ votes
    9y

    OMG, I almost fell off my chair laughing.......

    @Katie Drab - do yourself favor, read up some of the other threads talking about their experience with Morris

    1Reply
  • Jeff Wallenius
    Specialist · Indianapolis, IN · Member since 2014 · 670 posts · 352 votes
    9y
    Katie Drab if your purchasing Turnkey you shouldn't have to hire additional resources to vet the property and provider. This is why it's important to invest with proven operators and trustworthy companies. If your turnkey provider is farming out the property to third party property management there is no accountability. Several pitfalls in out of state investing, I would be happy to share additional as I would hate to see you start off with a poor start!
    1Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    9y

    @Diane G.  Diane be kind now.... this company has a huge web presense and did a BP pod cast this gives folks a greater sense that they are dealing in viable properties..

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    0Reply
  • Seth Robinson
    Rental Property Investor · Marblehead, MA · Member since 2016 · 22 posts · 13 votes
    9y

    @Katie Drab  I would recommend doing due diligence on ANY turn-key provider before pulling the trigger.  I would also keep in mind that people posting on these forums often have their own agenda's, especially when they aren't local to your property.  

    1Reply
  • Josh C.Pro Member
    Property Manager · Indianapolis, IN · Member since 2010 · 1k+ posts · 1k+ votes
    9y
    Please google ocean pointe. Our local news channel did a story in them. Typically the news doesn't show up and say, "here is an upstanding company that does fine work" if you get my drift. I also my personally have had to re-rehab several of their freshly rehabbed houses that we got after their clients left them and came to us because major things were not done to code. Feel free to reach out if you want to run an address by me. Good luck!
    1Reply
  • Shawn Holsapple
    Residential Real Estate Broker · Indianapolis, IN · Member since 2010 · 1k+ posts · 557 votes
    9y

    All good points above.

    I have sold them several properties with no issues.

    Feel free to PM any of the locals on here and we will be glad to give you our opinion of the property in question.

    1Reply
  • Tom Ott
    Equity Raiser and Turnkey Provider · Cleveland, OH · Member since 2016 · 4k+ posts · 1k+ votes
    9y
    Originally posted by @Katie Drab:

    Hi All!

    My husband and I just purchased our first out of state rental property from a turnkey co in Indianapolis. The management co they use is Oceanpoint Investments LLC. Has anyone had any experience working with this management co and if so, would you recommend them, or is there a different management co in Indianapolis that you would recommend? Any and all feedback would be greatly appreciated!

    Thanks so much!

    Katie 

    I have never really heard of that. I am surprised the Turnkey company is trying to pawn you off on someone else. Did they just act as an agent? Most turnkey providers stick around and manage after.

    When you are looking for a good PM, maybe you should look at: What to Look For in a Property Management Company that might help you a bit more.

    0Reply
  • Katie Drab
    OP
    Owensboro, KY · Member since 2017 · 5 posts · 2 votes
    9y

    Hi @Tom Ott! Thanks for your feedback. Clayton Morris with Morris Invest is an out of state investor, and uses Oceanpoint for the rehab & PM. That's how I understand it anyway. 

    0Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    9y

    @Josh C.  I predict the morris adventure into the hoods of INdy is not going to end well for those who bought into their version of investing success.

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  • Aaron B.
    Investor · Indianapolis, IN · Member since 2015 · 80 posts · 82 votes
    9y

    @Katie Drab, congrats on taking action.  I know your original question is regarding Oceanpoint PM.  I do not have any firsthand experience with the Oceanpoint or Morris Invest. 

    There was a recent post called "Morris 2.0" from @Tyler Jahnke, which you may find useful.  I bet Tyler would share his thoughts. 

    Stepping away from your initial question.  I too am a newer investor.  When I started investing, I said, "I have to hurry or I will be left behind.  All the good deals will be gone."  A year and half later....mehhh there are still good and bad deals, which I evaluate everyday.   

    It sounds like you have been evaluating properties. I found great benefit from widening my aperture of homes I evaluated. I started by evaluating TK properties, then pre-rehabbed homes (wholesalers), and homes on the MLS. Additionally, it helped me understand viable exit strategies. Honestly, the more I researched Indy the more I found it was really a complex market.

    I would suggest you come visit Indy, rent a car, and just crush some mileage. 

    Even if I have complete trust in a company I am a "Trust but verify" kind of person.  I would recommend you get a local point-of-contact separate from any turnkey provider.  That could be an inspector, family, friend, contact.  Feel free to PM me if you have any questions.  I have nothing to sell you.  Good luck.

    0Reply
  • Tasheana Hanza
    Realtor · Indianapolis, IN · Member since 2016 · 52 posts · 26 votes
    9y

    i would be happy to discuss ocean point or any other PM that you might have questions about. i would prefer not to do it publicly though. PM me anytime. i am a local investor, broker, wholesaler.... 

    1Reply
  • Steve Pieper
    Littleton, CO · Member since 2016 · 3 posts · 1 vote
    9y

    I'm embarrassed to admit that I hired Oceanpointe. They checked out fine at the time I hired them, but they have proven themselves to be absolutely and stunningly incompetent in every aspect of property management, and I'm in the process of replacing them. Steer clear.

    1Reply
  • Bob Gray
    Investor · Minden, LA · Member since 2017 · 3 posts · 1 vote
    9y

    I live in Louisiana and started with 3 and now have 7 properties that Oceanpoint Investments Manage. I couldn't be more happy and will be buying more in the future!

    0Reply
  • Rob Glover
    Rochester, MI · Member since 2015 · 10 posts · 0 votes
    9y

    I bought my first turn-key through Oceanpoint Investments. I'm currently in the process of switching property management companies now. PM me for details.

    0Reply
  • Joel Wilmoth
    Property Management · Indianapolis, IN · Member since 2015 · 111 posts · 94 votes
    9y

    I have current experience with owner who purchased Oceanpoint and now we have taken over.  PM me if want my viewpoint.

    0Reply
  • Nam G.
    Oakland, CA · Member since 2017 · 3 posts · 0 votes
    9y

    Hi Katie, How did the experience go? Would be great to know. I am thinking about considering them for my first rental property.

    0Reply
  • Katie Drab
    OP
    Owensboro, KY · Member since 2017 · 5 posts · 2 votes
    9y

    Hi Nam Gu! 

    After receiving all the negative feedback, we decided to back out of the deal last minute. I would reach out to @Tyler Jahnke, I know he has at least one property with Morris Invest. He was super helpful and eager to answer any questions I had. Best of luck! 

    0Reply
  • Nam G.
    Oakland, CA · Member since 2017 · 3 posts · 0 votes
    9y

    @Katie Drab Thanks for sharing..I saw Tyler's post and am following it..The latest update was that he finally received his first rent check after 4 months of deposit earlier this month..hope his experience with them goes well..I'm asking around about Roofstock too. Thanks again for responding to me, and good luck to you as well

    0Reply
  • Bruce McClellan
    Woods Cross, UT · Member since 2017 · 1 post · 1 vote
    9y

    are you talking about bert Whalen Oceanpointe Investments LLC in indianapolis?

    1Reply
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