All Forum Posts by: Ric Ernst

I meant Walker Hughes....typo

@Jorge Pereira I personally like to use insurance brokers rather than specific insurance companies as they typically offer multiple insurers and are cheaper than the big name companies. I am using Waker Hughes Agency for my Indy properties. Best of luck to you.

@Amil D. I will send you my PMs info. Sounds like @Josh C. might be a good guy to talk to as well.

@Jeremy Helsabeck....just as @Josh C. said, neighborhoods in Indy vary street to street especially in the main part of the city. The outer suburbs are a bit more stable and generally B class but even there, there are some bad pockets such as Mars Hill or Northeastwood. If you are serious about investing in Indy, you really owe it to yourself to spend a few days there and get to know the areas. Find an REA that you want to work with and get him or her to show you around and, of course, discuss with a PM. 

@Toneisha Moore I think most REA's use Chicago Title. I've also used Centurion Land Title for private deals and have no complaints. Personally I would stick with larger reputable title companies.  

@Jeremy Helsabeck I will PM you with my PM's contact and some feedback. My Indy properties are all C class. I'm running out right now and just saw this so if I don't get back to you by tomorrow, feel free to remind me.

@John T. you need to let your agent or broker know you are a landlord and not a homeowner occupying that particular house. If your house is vacant / not currently rented, they need to know that as well and will charge a slightly higher premium. Once you have a tenant, you simply let your agent know and they will amend the policy. The rates generally go down. Also, if you are using a PM, make sure you add them as "additionally insured". There is no extra cost for this.

@Todd Burton thanks for the heads up. I have properties in Indy and have never heard about the registry. Need to hold my PM to account.

Wow....from all of the responses it sure looks like cashflow is happening all over the country! Personally I am doing B- / C+ class SFRs in Indianapolis with great cashflow. There are distressed properties all over that can be found cheap and one forces equity into them with rehab. You need to understand the neighborhoods and have a solid team in place for that to work.

@Prudence Meads let me guess....did you buy your properties from a charming podcaster personality who then turned the deal over to a "reputable" partner called Oceanpointe? Very cool that you stuck it out and turned it around and I sincerely hope you are suing the pants off of this scourge. I've bought a couple distressed properties from people in the same boat that did bail out and they did indeed sell for pennies on the dollar. Keep up the good work!