All Forum Posts by: Gloria N Gear

Foundation repair is a major defect. (Line 238 if you used a purchase agreement)  If I was your realtor, I would send the seller the estimate and ask for a price reduction of that amount.  

Are there enough other repairs that you could qualify for a hard money loan?  It would be a temporary loan until you fix the items, then you could refinance into your regular loan.  Just an option to think about - the numbers would be tight.

I use Hocker Title -- they do off-market through the regular title process, but if something comes up that requires an attorney, there are attorneys on staff who can work through the issues.  When I worked for a wholesaler, we did all transactions through them.  Other good local title companies for off-market are EagleLand, Monument, and Investors.

Just some additional companies for you to consult with in the Indianapolis area -- Hitman Solutions (former contractor at Michaelis) - Acculevel, Jaco, Crawlspace Doctor  -- PM  me if you need phone numbers

Hi Randee, I can speak to the Indianapolis market.  It has been in the top 10 areas to invest for a while now, but there are plenty of neighborhoods that still need improved.  The economy is thriving in several areas -- pharmaceutical, medical, IT, Distribution centers, manufacturing, government defense, sports, convention center -- a wide variety, so we aren't depending on only one type of industry.  With the low cost of living and plenty of space to keep building, it is very attractive to many corporations -- which translates to the need for more housing.

I can help you with single and small multi in Indy, but for commercial, I send my clients to my friend James Story -- I will PM you his info.

I am going to PM you some contact info for Jonah Hartsburg -- He was a property manager in Indianapolis, but moved up to Marion and is continuing to do flips and rentals up there.  I am not 100% sure how much property managing he is doing in the area, but he could point you in the right direction.

Hi Oren,  I will reach out to you privately as well.  But, for title companies - my Go-to is Hocker Title (they work very well with OOS investors and can handle any unique situations)  Monument and Investors Title are also good with investors as well.  For inspectors, I prefer 5M inspections, they are very thorough.

I live between Avon and Plainfield, I just saw a rental in the neighborhood next to me advertised for $3000 for LTR,  totally shocked - the one two doors down from me is renting for $2400.  I have a guy on my team that is successfully renting by the room to young professionals, travel nurses, and college students, but that is downtown Indy.  I don't know how that would work in Hendricks County.  Check your selling comps too though, you may have enough equity to buy another property close to you in Virginia that you could manage better.

Hi Deane,

I just want to validate your hesitations and tell you that it is a good thing that you are not jumping into something that you are not prepared for.  Most of the time, fear is lack of information though.  I would be happy to help you build your team here in Indianapolis.  You just need people in the lending, insurance, property management, construction, and real estate to educate you in all of these areas so that you can make informed decisions.  Happy to have a conversation with you.

Hi Alejandro, I just had a new client (investor) from Toronto drive the short 8 hour drive to Indianapolis this weekend to do some research of the area with me.  I would be happy to connect the two of you and talk with you about my experiences with my other Canadian investors.