This Blog was updated December 2023
If you’ve been an investor for any period of time, you know the importance of making the right choices.
The right Realtor.
The right property.
The right Property Manager.
The right vendors.
And so on.
These parties can make or break your investment experience, and we cannot understate the importance of picking who you will work with.
We help investors buy and sell properties every week, so we’ve been around the block when it comes to working with Indianapolis businesses.
Today, we thought we would help take some of the guesswork out of who you should hire to be on your Indianapolis investment team.
Based off of years of experience, we’re giving you our top recommendations for Home Inspection Companies, Lenders, Title Companies, and Home Insurance Providers, so that your rental property buying process goes as smooth as possible.
We will also go over every member you should have in your real estate dream team to make your investment as successful as possible
Our Top Indianapolis Recommendations:
Top Indianapolis Home Inspection Companies
Here at T&H Realty, we strongly recommend that all of our investors have a home inspection conducted before purchasing a property.
- Indy Pro Inspection Service, Inc
Top Indianapolis Lenders
As we’re sure you know, a good lender can be the difference on whether you have a smooth, or chaotic, closing. If you are a new investor, it’s critical to establish a relationship with a high-performing lender. Once you’ve established a relationship with a good lender, and they develop a file on you, doing multiple deals will be much easier.
A quick note about NMLS numbers from the Nationwide Licensing System:
“The NMLS Unique Identifier is the number permanently assigned by the Nationwide Mortgage Licensing System & Registry (NMLS) for each company, branch, and individual that maintains a single account on NMLS. The NMLS Unique Identifier (“NMLS ID”) improves supervision and transparency in the residential mortgage markets by providing regulators, the industry and the public with a tool that tracks companies and individuals across state lines and over time.
Top Indianapolis Title Companies
Like a mortgage company, connecting with a top-flight title company will make your life easier.
Solid title companies will ensure that you are informed off all the various stages in the closing process, will work closely with your lender to ensure closing dates are met, and can help you understand any issues regarding the title that may be of concern.
Top Indianapolis Home Insurance Providers
If you’ve read any of our other insurance blogs, you know that we take it very seriously. Protecting yourself, your tenants, and your investment should be one of your #1 priorities as a Landlord. We require all Tenants to carry renters insurance and strongly advise all Owners to carry the proper Landlord insurance.
Protecting yourself, your tenants, and your investment should be one of your #1 priorities as a Landlord. We require all Tenants to carry renters insurance and strongly advise all Owners to carry the proper Landlord insurance.
Finding a property is only one piece of the puzzle. You need to make sure that you’re hiring the right people to take care of your investment from start to finish such as a layer or CPA:
The 11 People You Should Have on Your Real Estate Dream Team
There are a lot of people you will meet, connect with, and learn from on your investing journey. But, some are more imperative than others. Here are the 11 members of your real estate and investing team to maximize returns:
- Spouse or significant other– If you are married or have a significant other, their support is key in your success. Share your wins and losses with them. They are your biggest support system.
- An Accountability Partner– This can also be a mentor. Having someone to push you and show you how to reach your goals is a game changer. They should be someone who pushes you to be better and wants to see you succeed.
- Realtor– You want a realtor who is both active(not passive) and also can work within your schedule. Your realtor should work with you to send you properties they see as having a place in your portfolio. This should be a very active and communication-heavy relationship.
- Lender– You want someone who is going to work with you to shorten that process and make things go smoothly ever single time. Word of Advice: Don’t shop around for interest rates. If you have a good lender- keep them and nurture that relationship.
- Contractors- You will need to work to find contractors that are right for you. If you find a good contractor who is timely and does good work- do not low ball them. Pay a good contractor the estimated price and really grow those good working relationships- they are hard to come by.
- Bookkeeper– When tax season hits- you will thanks us. Even if it just you organizing your expenses and income through a software- it needs to be done. It alleviates a plethora of issues that could arise in the future.
- CPA– They pay for themselves- literally. They can get you bigger tax breaks, know more ways to maximize your money, etc. You may think you can do your own taxes- but we highly recommend using a CPA to maximize your investment.
- Attorney– Choose a local attorney. They will know the details of what courts to use, what lease language to write, and more. They are your ultimate knowledge base for all things legal. And legal things WILL arise. If you are a landlord long enough you will have to deal with an eviction at some point. Do it right. Get a lawyer.
- Insurance Broker– They do the shopping for you- so you know you are likely to get a better rate. AND you know you and your investments are absolutely covered and protected.
- Property Manager– We can help you consolidate a lot of these team members. If you pick a PM like T&H, they can help you buy and sell through the brokerage aspect. And then the PM aspect takes care of everything like bookkeeping, contractors and repairs, legal work, etc. We can be your one-stop-shop for investing in Indianapolis!
- Financial Advisor-You want to hit your financial goals- this person helps get you there. They should be that accountability partner that is also proactive in what is best for your future. You want them to reach out to you, present opportunities, and help you get back on track when you’re off.
So that is it, those are some of our top recommendations for team members throughout Indianapolis, and the team members you should consider when investing.
If you have any questions about how we can consolidate this list for you, and make your investing journey easier, click the “let’s talk button” in the top right corner!