All Forum Posts by: Harvey Levin

@adam sankowski I manage 375- 450 houses. In past 7 years have had 2 claims with NREIG and had horrible experiences with both claims. On 1 in middle of winter we had a gutter and soffit fall down in front of the doorway and they initially refused to pay because we moved it out of way (we took photos) and they said the Adjuster would not be able to see it to verify.  Being winter with heavy snowfall and I am sure lots of claims he arrived over 2 weeks later. The other was when a car (uninsured) ran into a house and we had to fight tooth an nail to get the claim paid. Process took several weeks. 

I cringe when my clients  have insurance  with them.  They are cheap for a reason. SMH

@David Noh we have helped many investors in TRUE C areas in Indianapolis have long term successes. The key is not overpaying which includes not only rents vs purchase price but also condition and marketability of the houses.  I have  personally been investing in those areas since 1980. Having qualified boots on the ground is critical. In 1985 I found that the best way is by utilizing the Section 8 voucher program and in my opinion that is still the only way to achieve long term success. (We currently manage over 300 tenants on Section 8 in houses and doubles) in those areas. I have found many investor buy thinking it is a C when in reality it is a D  area. 

Make sure you check for flood plane and water issues in that area 

I see a lot of posts about boots on the ground or having a local pair of eyes. It is very important  to have a QUALIFIED person as your boots on the ground.  A realtor or Pm who has never owned a investment in the specific area or type of area will not have the Boots on the Ground knowledge needed. We have a client from AZ who was referred to a realtor that "helped" them by 4 properties of which only 1 was worth buying . When I spoke with the realtor it turned out they had never sold or bought a Investment property even being a Realtor for over 30 years. Doing Due Diligence not only applies to the actual property but also to your Realtor, Wholesaler, Lender, Property Manager, Home Inspector and  your Contractors. There are a lot more bad than good Experts in very market. I an certain that in my 38 years of being an Investor and PM and  former General Contractor that I have "made" more money  on the bad deals I walked away from than the good ones I went for! 

I have been a Section 8 Landlord since 1985 and currently manage over 300 tenants in houses on the program in Indy for owners. We manage non Section 8 in addition to the 300.  I am happy to share my experiences. 

@Angela Smith As far as the Oil Tank, removal is required by Section 8 if they can see it. I have seen them pass inspections if the tank is contained. (example  a wall and ceiling  is framed around it to box it in  and completely sealed up.) 

@Shawn York The process for the past several months has been much faster than ever since I have  been involved. It is the 1st time the inspection department has been fully staffed.  In the past the process from RTA submit to move in was 6 to 8 weeks. I have found that the 2 main reasons for delays has been the Caseworker not processing or the tenant not turning in all the needed documents to the caseworkers.

For those interested I am working on a White Paper for the Section 8  Director to explain why more Landlords are not willing to be on the program and possible solutions to those objections. If anyone has anything to offer of their experiences please PM me  

@ Scott passman I own and also manage several one-bedroom doubles in C Class areas the demand is very sporadic we find that we can go a month without a qualified candidate but then the next month we make it 6 you can p.m. me if you want to discuss specific areas

@Nathan Gesner

@Ninon Thomson

Nathan thanks for mentioning me.  Ninon, Please let me know if I can help you.

I recommend investor Title Services

PM me the address please. 

I have one on same block. looks like its time to sell!!