All Forum Posts by: Gloria N Gear

 Yes, would love to have a conversation -- I sent you a PM.

Hi Abdi,

I am going to to try to hop on a call with you.  I was actually working in the investor real estate space for 3 years before I took the jump and did it myself.  Now I am on property #9 (that took 5 years).  

Follow Nathan Gesner's advice.  Break it down step by step and you will feel confident to move to the next decision.  

Do you want to Flip or Hold?

If you are holding, do you want to do Long term, Mid term, or Short term rentals?

What is your comfort level on construction - cosmetic, mid-level or gut to the walls?

I also agree with him that your Property Manager is the most important person on your team.  (And I am a realtor saying that).  They are the one that is going to protect your investment long term.

Hi Abhishek,

I have been working with OOS investors in the Indianapolis area for 8 years now.  I also am a Flipper and Landlord myself.  I am passionate about learning the different areas in Indianapolis that are transitional and developing neighborhoods. I would love to have a conversation with you.

I have no skin in the game here -- I have not done any transactions with Neu Real Estate Group yet.  I have spoken with them about selling some land to them.  But like Edwin Watson -- I am a local investor/agent here in Indianapolis -- and I have also driven by their properties and they seem to be great quality.  Neu is also a reputable real estate agency with MIBOR (Metropolitan Indianapolis Board of Realtors)  I would be willing to help any of you out of state investors to walk properties and/or vett them for you and I know Edwin would be willing to do the same.

I don't know anything about the Richmond market.  But Indianapolis is a growing "small city"  with very good numbers.  Research all the top companies in the area - Lilly, Sales Force, Rolls Royce, various insurance companies.  We are a huge sports town and host tons of sporting events - Indy 500, all our professional teams, NCAA, Big Ten tournaments, etc.  Cost of living is low and entry point for rentals and flips is great.  It has been in the top 10 places to invest for year, but there are plenty of neighborhoods that still need work.  Happy to hop on a call to discuss.

Hi Adelaide,

For STR - you are going to get most of your business from all the sports events -- racing - Indy 500, football -Colts, NBA - Pacers, WNBA - Fever (Caitlyn Clark), We just hosted the Olympics swim trials, other events include Big Ten Championships, NCAA tournaments (NCAA headquarters here), and the Combine (recruitment for NFL).

We also have a pretty busy convention center -- not huge like Vegas or Orlando, but it is solidly booked year round with events like ComiCon, GenCon, Firefighters Association, Future Farmers of America, Candy Expo, and various others.

For MTR, you are looking mostly at traveling nurses and medical personnel, you also may get contract workers for the larger corporations like Lilly, Sales Force, or Rolls Royce.

Happy to hop on a call and discuss further.

Hi Danielle,

I live in Indianapolis and grew up near Ft Wayne.  I have 5 rentals currently in Indy and have not had trouble with vacancies on any of them.  I also work with OOS investors and have a list of property managers that you can call and get information from as well.  Would be happy to hop on a call with you.

I used to live in northern Illinois, so close to Wisconsin - there are several smaller towns around lakes that would be good for short term rentals.  Consider Suburb areas around Madison and Milwaukee too.  I now live in Indianapolis and am on property #9, I also work with OOS investors if you would like a call.  I obviously am partial to Indianapolis, but you also look at smaller cities (especially the college towns) - Ft Wayne, Lafayette, Terre Haute, and Bloomington.

Ted King Goosehead Insurance
600 E 96th Street, Suite 400, Indianapolis, IN 46240
[email protected]
(317) 343-4774
Mary Bogard
[email protected]
317-324-1109

They are great with my flips and if I decide to keep them for rentals, very easy process to switch over.  They are a broker so can shop different companies.  Great local personal service.

I am in Indiana as well, in our situation, it did not make any difference on our taxes if we left it in our personal name or transferred into an LLC. I am a real estate professional so get a lot of tax benefits on our rentals. You need to talk to a tax professional to see what is most beneficial for your situation. (I use Midwest Tax Service - he also owns rentals so keeps a close eye on changes in the tax code). But, you also need to talk to your lender, insurance person, and financial advisor to see if there are other benefits to switching to LLC. For us, the lower interest rate loans are what keep it in our personal names. I have an umbrella policy that gives extra liability protection. (I personally would leave it alone, but that is just my opinion - happy to hop on a call and chat)