Guru Ann Lauderbaugh Himmelheber with EXP Realty

Announcer: 0:01

Advisors Mortgage Group is proud to present in these real estate gurus hosted by Rick Ripma and Ian Arnold, the hard working mortgage guys, please contact Rick and Ian for all of your mortgage needs at HardWorkingMortgageGuys.com That's HardWorkingMortgageGuys.comm Now here's the hard working mortgage guys, Rick Ripma and Ian Arnold.

Rick Ripma: 0:24

Hey, everyone, before we get started, I just wanted to remind you that the most up to date information on mortgages and in these real estate market, go toHardWorkingMortgageGuys.com. That's HardWorkingMortgageGuys.com. I'm Rick Ripma, the hard work and mortgage guide, I've had the honor of working with over 5200 mortgage borrowers helping each one find their best mortgage options. As a certified mortgage planner, I know my team and I can guide you through the process and help you every step of the way.

Ian Arnold: 0:50

And I'm Ian Arnold partner Rick's hard working mortgage team I've worked with in the financial industry for 15 years helping people purchase what they want, and helping them build their overall wealth and even their credit score if they need to. On today's show, we are very excited to be highlighting a real estate guru. And I'm sorry, I'm not going to try to pronounce his last name. It is hard. It's a little difficult for me because I'm used to three letters E and I and so how do you pronounce your name louder about

Ann Lauderbaugh Himmelheber: 1:20

him? Will he ever? All right? See,

Ian Arnold: 1:22

she pronounced that a lot better than I ever could. But she's, she's become one of the top real estate gurus here in Indiana. So thank you for joining us.

Ann Lauderbaugh Himmelheber: 1:32

Thank you for having me.

Rick Ripma: 1:34

And we'd love to have you tell the listeners how they can contact you.

Ann Lauderbaugh Himmelheber: 1:38

So the best way to contact me is to reach me on my cell phone. And what's that number 317701413131770141314131.

Rick Ripma: 1:50

I find it's really helpful to say it more than once so hard for people to pick it up. But we'll go through it again. And again, we'll put it on.

Ian Arnold: 1:57

It'll be in the description on the podcast. So her email, phone number and even website. So easily find any way to contact her because she will take care of you. Alright, so I always like to start. So are you married? You have kids? Let's start with the whole family because that's where our lives dictate the start. First start.

Ann Lauderbaugh Himmelheber: 2:20

I am not married. And I do have four children. Awesome. And what are their ages? So they span in ages nine from 19 to 16. And then I have 11 year old twins. Wow.

Rick Ripma: 2:31

That doesn't keep you busy. Does it? Not at all? And and not only do you sell real estate and you're phenomenal at it, you also have a construction company.

Ann Lauderbaugh Himmelheber: 2:40

I do. I'm a licensed general contractor and I have my own construction company.

Rick Ripma: 2:44

And that's been that business has been booming. least it was last last couple of years. Is it still a booming? It is yes. So does that give somebody like an A, they can do real estate, but also there's people that need work done to their houses before they do get, you know, put it on the market? Do you do things like that? Or

Ann Lauderbaugh Himmelheber: 3:05

we do so and that is a little bit of the niche that I provide here in Indianapolis, primarily working with investors and connecting them on the front end with a hard money lender for acquisition, then it helps to be able to go in look at the property and put together a rough scope of work to submit to the hard money lender. And then we after acquisition end up going and doing the rehab work. Do you mean to stop there, keep going. Okay. So we sorry, we submit all of that to the hard money lender. Then after acquisition, we get the work started. We are submitting drawers along the way they're funding the project. So these are bridge loans. After that we complete the rehab work and then I connect them on the back end with a long term commercial lender for the refinance process. Or listed do the realist if it's a flip situation.

Rick Ripma: 4:05

And are these mostly single family homes doubles? Or is it commercial properties?

Ann Lauderbaugh Himmelheber: 4:13

They range from residential to commercial? Okay.

Ian Arnold: 4:15

And how long have you been doing this?

Ann Lauderbaugh Himmelheber: 4:18

This has been ongoing. For the last well, I will say it's been a lifelong thing. This is something I took over from my father. Okay. Family Business family business.

Rick Ripma: 4:30

And, and it's I mean, it's an interesting way to do it because we I talked to a tremendous amount of real estate agents. And a lot of a lot of them talk about the ability when they're listing a home or, or even somebody's looking to buy a home it really helps to have somebody who, who can actually will get in the crawlspace because I personally I'm sorry, I'm not getting in somebody's crawlspace but there are a lot of these agents like like they you know, and it really helps to have Somebody who can look past the cosmetics and see what really actually needs to be done.

Ann Lauderbaugh Himmelheber: 5:04

Yes. And it gives a second perspective, because it is imperative that you always have an inspection report. But having a general contractor look at what's going on as well as very helpful can help you decide whether you're going to move forward with acquisition or not.

Rick Ripma: 5:18

Now, obviously, you got into the real estate business somewhat because of your family is in the real estate business. But was there any other draw? Or is there is there something that I mean, you've been in a while, so you must really enjoy it. So what is it about your real estate business that you enjoy? And is there any different way that you got in and other than just family just happened to be the family?

Ann Lauderbaugh Himmelheber: 5:40

I would say primarily, it's family based, although I do have a strong passion for the city of Indianapolis and seeing it continued to beautify grow. And Indianapolis is a very unique investing market. So I'm feel privileged to be a part of that.

Rick Ripma: 5:56

Well, let's talk about the investment market, because I think that could be important to people who are listening. What makes it such because it seems like a lot of people come from out of out of the state to do it, which if they'll come all the way I get loans from people from California looking to buy a one, I got a guy down in Louisiana does the same thing he buys up here, what is it that is attracting investors to invest in homes here.

Ann Lauderbaugh Himmelheber: 6:20

So it's a combination of three things. It's our property tax cap rates for in state investors out of state investors, and then commercial, that's one of them. Second is your acquisition price, you're going to be able to acquire homes here in Indianapolis, or even commercial properties, substantially cheaper than you are in other areas. The second part of this is Indianapolis is a flat market, which is phenomenal for investing. While you're not going to see those initial higher returns, you can expect an average of 3% a year, which is what you want, because while you're only seeing 3% growth, on average, you're not seeing the drastic downturns. That's well.

Rick Ripma: 6:59

Yeah, and that's the the returns have been higher than that. But over time, that's pretty much what Indianapolis market, I always tell people I've been in the in in real estate since the since 1990. And I couldn't make the connection in my head how long ago that was, but over 3033 years. Anyway, how hard how, you know, the investment quality always at 3%. And then I read statistics is actually a little higher, it's like on average four. But still, it's it's a very consistent market, we get little ups and little downs, but it's consistent. And that must be really important to an investor.

Ann Lauderbaugh Himmelheber: 7:39

It is important. There are other markets that are more volatile. And it can be the higher the stakes, your you stand to gain more, but you also stand to lose a lot more. For example, in 2019, the Vegas investing market was really hopping but right now there's a significant downturn. You're not seeing that here in Indianapolis.

Rick Ripma: 7:59

Oh, Vegas is down. I hurt California is down. That's yeah, I just I just saw something today actually, where it was showing the the, the numbers and I was surprised and Annapolis was still one of the better returning markets.

Ann Lauderbaugh Himmelheber: 8:14

It is. And one of the as I alluded to previously, the property taxes here in Indianapolis, some of these homes in Indianapolis, you may be only paying $56, semi annually for property taxes. You're not going to see that anywhere else, even in the Midwest, probably apart from Columbus, Ohio.

Ian Arnold: 8:31

Wow. So so people need to stop complaining about paying property tax. Right.

Rick Ripma: 8:38

You know, it's funny, because when people come into the market come into in Annapolis in our area, and they're not from here. They're just blown away by our taxes and how inexpensive they actually are. And you talk to people and like, I know people who what a what a $2 million house here pays in taxes. It's 180 $400,000 home and in like Chicago is what they pay. It is amazing. The difference. Yeah. Now what about our rents are rents.

Ann Lauderbaugh Himmelheber: 9:08

So rents are are good across the board in Indianapolis, I will say that rents are on the rise. Everything is on the rise right now. But rents are definitely going up. And there's a few things as far as ensuring that those rents are continuing to do well. One of the main things that I run into here that people from out of state don't typically understand is the difference that air conditioning and off street parking can make you can see an average of 50 to $150 more each month in rental income just based on those two things alone,

Rick Ripma: 9:41

really. So air conditioning in the property and off

Ann Lauderbaugh Himmelheber: 9:45

street parking and that can be as simple as a parking Pat in the back which is you know, a two axle truck of number 53 Stone costing the investor $800 to put down. Wow, the return very quickly, right.

Rick Ripma: 9:58

That's phenomenal. It helps to have somebody who's done this a long time knows exactly what to do. And

Ian Arnold: 10:06

so if somebody is interested in getting into an investment property, how would they reach you?

Ann Lauderbaugh Himmelheber: 10:14

So the best way to reach me is my cell phone. It is 317-701-4131. But that is the fastest way to reach me.

Rick Ripma: 10:23

What's your cause? You're, it's interesting because you you're doing real estate different than most agents do it. So what is like what's the most interesting or fun part of your job?

Ann Lauderbaugh Himmelheber: 10:37

The best part of my job I would say, is getting people excited about Indianapolis, people that have never desired to step foot into Indianapolis International Airport coming because they want to see their properties. They want to see the area learn about it. They want to bring their families hearing their children's say they want to ride the horses around monument circle things and just seeing how much Indianapolis can be loved by people that have never even thought of coming here before.

Rick Ripma: 11:02

It is a very nice city. The whole area, it's not just Indianapolis proper. It's your surrounding counties, the doughnut counties are it's just a it's a great place to live. I was born and raised here. I'm guessing you were also Yes. Yep. So you know Indianapolis very well. And are you do the work the entire area? Or are there certain pockets that you're you really work in,

Ann Lauderbaugh Himmelheber: 11:26

we really work the entire area, I will say that anyone that watches HGTV or I forget exactly which network it's on. Fountain Square is a little played out right now. And that's simply due to lack of availability and purchase price getting in Fountain Square is different than anywhere else in Indianapolis at the moment. But beyond Fountain Square, we're pretty much everywhere. Okay,

Rick Ripma: 11:47

I had a I had a buyer buying in Fountain Square. And he first he bought a lot. And then he built a house there. But this was a while back. And the appreciation has been unbelievable. There.

Ann Lauderbaugh Himmelheber: 11:59

The appreciation has been phenomenal there. However, the neighbors have seen what's going on. So you may have had a street where 30 properties were for sale. At one point, now you're dwindling down to the last three to five properties that are still needing to be flipped or rehabbed. They've seen the trends and what's going on. So the purchase price now as opposed to what it was five years ago is significantly different. Okay?

Rick Ripma: 12:21

What, what is the value if somebody is looking to, let's say, start getting into investment properties, and they can hold long term or they can flip it sounds like flipping is is more prevalent right now is that,

Ann Lauderbaugh Himmelheber: 12:36

I would say it's a mixture of both. And that's going to term that is going to come from personal wealth. And that's going to be your deciding factor. Right now those with fewer. I'll say cash reserves are more into flipping simply because most of the time they're working with that bridge loan at a higher interest rate. So you want to get out of it as quickly as possible. Having said that, the long term buy and hold right now what you're wanting to do with interest rates, especially these are private loans, remember, so we're looking between seven and eight and a half percent. So to still see that return, no longer is it like it was a year ago when we were seeing the burr method implemented as much right now it's just seeing a positive cash flow in your monthly rental income. Even if you're not implementing the burn method, meaning you have to have those cash reserves to hold you over if you're not taking out that 10 to 30 grand like you would have been a year ago upon refinance.

Rick Ripma: 13:32

And we are coming up on our break. So before we go to break just if you need to get a hold of inner i It's hard working mortgage guys.com That's hard working mortgage guys.com. And, and if they need to get a hold of you, how would they get ahold

Ann Lauderbaugh Himmelheber: 13:47

of you? 317-701-4131

Rick Ripma: 13:51

Perfect. And after the break, we're going to talk more with an about really about rental properties and the investment quality here in Indianapolis

Unknown: 14:01

advisors, mortgage groups licensed by Indiana Department of Financial Institution equal housing opportunity. NMLS 33041 Rick Ripma NMLS 66489

Rick Ripma: 14:09

Hi, I'm Rick Ripma. With the hard work and mortgage guys and advisors Mortgage Group where we believe delivering the best mortgage for you is why we exist and it's how we all succeed. We believe

Unknown: 14:19

honesty, kindness and hard work are how we honor each client

Ian Arnold: 14:23

at hardworking mortgage guys, we believe in custom tailored loans, not the one size fits all approach.

Unknown: 14:28

We believe in always presenting you with all your options. So you get the loan you want the way you want it. We believe in continually monitoring the rules, rates and market trends. So you don't have to we believe in working hard to meet your closing date so that your entire plan isn't upended. We believe in offering the same quick online process that the bookstore mortgage companies brag about whether you're refinancing or buying your first home.

Rick Ripma: 14:52

We believe there is the best mortgage for you and we believe we are the team to deliver it find us online at hardworking Morgan It's guys.com

Announcer: 15:05

brought to you by advisors Mortgage Group where we believe the more you know about financing a home the less stressful buying and refinancing will be

Ian Arnold: 15:18

all right, welcome back and and again, thank you for joining us. I do like to say this is my favorite time is question or the week. Now it's time for questions with the Guru's. questions of the week is sponsored by advisors Mortgage Group where we fit your mortgage to fit your needs. Contact us today get your free mortgage plan at HardWorkingMortgageGuys.com. So Ann, what was your first car?

Ann Lauderbaugh Himmelheber: 15:51

It was a Chevy S 10 shortbed was sidesteps that I did actually have custom lowered. It was a beautiful car

Rick Ripma: 15:59

was it? You miss it?

Ann Lauderbaugh Himmelheber: 16:01

I do miss it.

Ian Arnold: 16:03

So you have the truck because of the family business, or just because you like having a truck.

Ann Lauderbaugh Himmelheber: 16:08

I did have a truck for the family business.

Ian Arnold: 16:11

I figured that might be

Rick Ripma: 16:12

the case. My wife drives a truck and she loves her truck. And she would never that's see well, I don't think I'll ever get her in a car again. She loves trucks. That's her favorite. My mom grew up in a depression. And she was they were they were wealthy. And she wouldn't ride in a truck until she got way older, which she thought a truck was, well, you know, it was lonely for poor people. My dad would say, Well, we thought trucks were only for rich people because they didn't have a car. It's on how you look at it. But trucks today are beautiful. And they're in there. I'm really if you can't tell by the surroundings, I'm very into cars. And trucks are hot. I don't know if that was a s 10 s 10s? Or, I mean, all of all the older trucks they are really popular right now. I know what color was yours red. That's the right color.

Ian Arnold: 17:11

So people can spotter. That's what that's the reason why every parent gets their kids a bright color. So I do have a question. So what is your you do so much? So what does your actually team look like?

Ann Lauderbaugh Himmelheber: 17:25

So my team consists of myself, as far as the hunt for properties will say shopping the acquisition period, I do have a few commercial lenders that I prefer to work with. And I connect my clients with those on the front end. And it just depends on their specific needs. If they go into it, knowing that they're going to be looking for a 30 year product on the back of the rehab work, then I kind of geared them towards one, if they're looking for a flip, I have another in mind that I prefer to use. And then that comes down to acquisition itself, there are some properties that are harder than others. With one lender, I know that it's gonna take me about 30 days to get it closed with another lender. I know it can close in five business days. So it just comes down to you know what, what they need, as far as. And I do have a preferred title company that I work with, I use them for every one of our transactions to the extent that I tried to, you know, say buyer selecting title because they are phenomenal. And then as far as the team for rehab work, we have about 25 guys on my crew at any given moment. And it's your crew, it is my crew.

Rick Ripma: 18:35

Okay, so and so you're the general contractor, these guys all work for you. You help somebody find the property so I understand what you did because it's I think it's very interesting. You help you help them find a property you have for this type of property you need somebody as a hard lender and and hard money lender. Yes. And so you use a hard money lender, they closed on the property you and they financed not only the the property, they financed the

Ann Lauderbaugh Himmelheber: 19:04

construction escrow as well. Okay. And then and

Rick Ripma: 19:07

then they they do the drawers, they do everything as a construction loan, and then they and your crew does all that. Yes. And then they at that point, they can either sell the property all fixed up or they can rent it out depending on what they want to do.

Ann Lauderbaugh Himmelheber: 19:20

Correct. Okay, two more people on that team that are important. Insurance and inspection. Always, as I said in inspections are imperative to every deal we never do if you're doing sight unseen as out of state especially than an inspection is a must as far as working with me. And then insurance as well. With the hard money lender for that loan closes out fully.

Rick Ripma: 19:42

Yeah, it scared me to death. When people were waiving their inspections. I came out of New Home Sales and even in New Home Sales. I recommend you get an inspection, especially through the process because you Even very good builders can have can miss something. Yes. It's not that they're a bad builder, they, the builder I worked for was phenomenal. But there were still times when things were missed. And it's really somebody who will inspect it correctly with another another set I it's worth every penny, I think it sounds like you did do it

Ann Lauderbaugh Himmelheber: 20:23

is and unlimited investor inspections gonna cost under $200. Which is far worse than that for the peace of mind.

Rick Ripma: 20:30

Yeah, does that give you by having the inspection? Is that help you know, some of the extra work you need to do? Or do you already pretty much know what you need to do when you look at a property?

Ann Lauderbaugh Himmelheber: 20:39

Occasionally it will and give us an insight into a little bit more work that needs done. It's primarily for pass or fail, we'd never use our inspections as negotiation tools in the acquisition process. It's mainly to help them decide Do they really want the property or not? Is it a money pit? Or is it going to be a moneymaker?

Ian Arnold: 20:57

And did you see a huge uptick the last couple of years I know this year has been a little different with the drop. But during COVID and everything warehouses are flying off the shelf. So we're a lot more people going that route because they were having issues trying to buy a house that is let's just say prime, and it's already done. Or moving ready for waiving inspection? No for like your business and stuff. Did you see a lot more people trying to do rehab on houses that needed more work?

Ann Lauderbaugh Himmelheber: 21:27

Yes. And that was primarily due to a saturation of buyers in the market at that point. So people were willing to take on projects that required more work than they previously would have been.

Rick Ripma: 21:37

Yeah, cuz I, a buyer who's looking to move into the property. Most times, it appears they just want one that's done, they can move in. I had an agent tell me, you know, they want to they want to close on on Friday and move in on Saturday and have a party on Sunday. They don't want to have to do any work. Right. But your buyer, do you do work with people that aren't investors? Or do you

Ann Lauderbaugh Himmelheber: 22:04

know, and that's I suppose that I had another point. I work only with investors that and I don't work with end users at all, except for helping on that realist portion of things, facilitate showings. But beyond that, no, I don't work with end users. Okay, good.

Rick Ripma: 22:21

That's important for people to know, because if somebody's looking to buy rental property, and that's what they want to do, you'd be a very good person for them to talk to you because it is all you do you specialize in that. And it was one of the questions we ask, and I'm guessing that's part of it. But what is your superpower?

Ann Lauderbaugh Himmelheber: 22:37

My superpower is knowing what I know. And I will say that because it is a phenomenally frustrating at certain points to come across agents and brokers who may be showing an investment property, I show up with my crew, we're getting estimates or we're getting you know, measurements, things like this, I may have the inspector meeting. So we can make this as quick as possible. And I'm asking questions about the property. And they have no idea because they typically don't work with investment properties. They work with end user homes. So it really was, in some cases that can be a waste of time, and asking them questions about the property that they simply don't know.

Ian Arnold: 23:14

I think that's a valuable thing. So and what she basically is saying and just put it in different terms is look, if you're looking at getting into investment properties, there are certain realtors and stuff you need to talk to the main Some realtors may not know as much about investing properties as you do. So the ends the house, like you said, the inspections making sure so make sure if you are wanting to get an investment property, this is the first one to contact is an n and what's a good number

Ann Lauderbaugh Himmelheber: 23:47

317-701-4131?

Rick Ripma: 23:51

And I Yes, I agree. I agree. I've always thought it makes a lot of sense to work with a if you're going to buy rental property, buy investment property, to work with somebody who either does it all the time, or also owns those type of properties. So they can help you. Because there's more to it than just buying the house. If you're going to keep it to rent or if you're going to flip it, there's more to it. You need somebody who can, who can walk you through that entire process and be there for you and guide you through it. Now you may not if you have somebody who you've worked with, you know in 30 houses, they already know Right? But they still they know that probably because working with you. So it does make sense to me if I was going to buy a property to invest in which is a great thing to do. To have somebody who knows exactly what to do and how to do it and how to set it up.

Ann Lauderbaugh Himmelheber: 24:52

And go ahead I will say most importantly this pertains to your list agent when you're going to sell a prop already, there are instances where I run into, like I said properties that we go to. And we're we need to get a lot of information quickly. And we may have a small timeframe to do so. But there are important questions to be asked like, when was the last time this was rented? I'm asking that not because I want to pull the rent roll or look at that previous tenant as an indicator of an area renter, but I'm asking when was the last time about is the gas line working? Was the electric working okay, for them, the water, specifically water and sewer, those are heavy ticket items that we want to avoid. So if I know this property was just rented a month ago, and everything was working fine for them. And I say that because a lot of these investment properties don't have running water or electricity on or gas when we go in to see them. So that's something on that limited and inspection report, unless we're getting utilities turned on in the potential buyers name to run those tests, we don't really know. So that's a good indicator of how the property was or will be if someone was recently in it.

Rick Ripma: 26:00

And so if somebody wants to look at buying rental property, what what are the things they need to know? As an example? I years and years ago, I had rental property. And I found out I was a terrible landlord. I'm no good at it. I believe what people tell me. And I'm not good at collecting rent, maybe flipping I would be okay with but what does somebody need to know? What are the things they need to know before they get into buying rental property, whether it's flipper or renting it out?

Ann Lauderbaugh Himmelheber: 26:37

Sure. Um, so specifically, as it pertains to the property itself, there's a few things we we avoid vinyl villages, for the most part, simply because appraisers on the back end don't really like Final villages too much. But you don't see a lot of that in Indianapolis, that's more of a surrounding county scenario. I will say one of the big things that people don't think to watch for would be large trees, which sounds a little ridiculous. But in Indianapolis specifically, we run into a lot of terracotta sewer line, tree roots and terracotta sewer line are not friends, and you can get a root ball, you can get any, you know, myriad of problems coming from the tree roots coming in. And usually, there's no repair that you're going to find under $5,000. So that is going to be important. If you see something like a large tree, you're going to want to pay that six $700 for a sewer scope. Because it can be six or $7,000 on the you know, rehab side of it.

Rick Ripma: 27:36

I had that exact situation happened with a customer they bought a house. And it was they were under contract, they had the inspection. It was in Indianapolis. And it was they had a bunch of trees in the very back of the property. And I guess it was kind of a cliffie area and in the very back of the property, it was going to be $30,000 to fix it. And that wasn't even like, Okay, we know it's going to be 30 It's going to be at least 30,000. And that can be a huge that can really cut into your profits significantly. And it's kind of one of those things I know for me anyway, in my own houses, I would feel kind of the same if I was buying rental properties is it's it's no fun to fix that stuff. It's just money and you don't see any any reason. You know, the sewer works, but you don't see any results for it. It's not as much fun. And we're coming up on the end of the radio show. So we're sorry about that. But join us on the podcast

Ian Arnold: 28:35

side indies real estate gurus. Yes,

Rick Ripma: 28:38

and you can contact ESRI at hard working mortgage guys calm

Ann Lauderbaugh Himmelheber: 28:42

and and what's the best number for you? 317-701-4131

Announcer: 28:51

You're listening to India's real estate gurus with Rick Ripma and Ian Arnold. To hear the conclusion of this interview, go to hardworking mortgage guys.com and hit the podcast tab. Branch NMLS number 33041. Rick Ripma is NMLS number 664589. Ian Arnold's NMLS number is 1995469 equal housing opportunity, some restrictions apply?

Unknown: 29:15

Well, first off, thank you for joining us, Danielle. I appreciate it. And I just was curious, how did you come to find out about Rick Ripma and advisors mortgage Oh, I was looking for a mortgage for myself for a brand new home that I was building. And I wasn't sure the direction to go. I didn't have anybody in mind. So I kind of just spoke to whoever I could speak to. I got their number and everything seemed to be exactly what I was looking for. So I went with them. The thing I liked the most about Rick and his advisors mortgage is that I could go and upload things online and I didn't have to always be on the phone with them or sending them documents or trying to look for certain things that I needed to get the process going which is really good. Pray for me, I had a processor named Mark Coleman, who really helped me out in making sure I had everything I needed. Because I, I didn't know the first thing about having a mortgage. So it was awesome to have so much help. I think probably what I've benefited from the most is really just the understanding that sometimes I would get busy. And maybe I forgot to upload a document or I forgot to do a certain part of the process in a timely manner. And they would get right back with me. And it wasn't like a, hey, we really need this right now. It was always, Hey, just wanted to make sure you still remember that we need this. Well, you don't get that too much. In this day and age, it seems like most people are either, you know, very demanding of something they need from you. And they need it right now. And, and I agree, I've seen that in Rick's attitude with us over over the last 10 years that he's very patient, but also helpful to get the right things he needs. So exactly. In conclusion is Rick Ripma and advisors mortgage, somebody that you would use in the future and or tell your friends and family about? Absolutely. And I just want to thank them for all the effort they put in to help me find my dream home.

Announcer: 31:06

Ranch NMLS number 33041 Recruitment NMLS number 664589 equal housing opportunity, some restrictions apply.

Rick Ripma: 31:12

I'm Rick Ripma, you can go to HardWorkingMortgageGuys.com.

Ian Arnold: 31:16

And welcome back. And if you are just tuning in from the radio this you've selected the right chapter. So you're right here where we left off. And and this is phenomenal information. I mean, I don't think we've had a contractor slash realtor here, which is phenomenal. I mean, the information really interesting. Yes. There's information that I had no clue about, and on some of this stuff, so I do appreciate investors. Hey, I've already thought about that is when I moved my home. I'm I'm be written in everything. Why not get that extra income?

Rick Ripma: 31:51

Yeah. I mean, obviously, it's a great. It's a great alternative. And it is a great way to build wealth. It is. I mean, you can build long term wealth by having a property that you keep, and you run out. Now, what do you do if you have investors who buy property? And they keep them? Or pretty much every Okay, yeah, when they do that? Do they manage their properties themselves, or are their management companies that somebody could use if that if they needed to,

Ann Lauderbaugh Himmelheber: 32:19

there are quite a few and but are sorry, property management companies. And there are a select few that are preferred for different reasons, depending on the personality of the investor that I connect them with.

Rick Ripma: 32:31

Because that's the only time I've made money on an on investment properties is when I hired somebody to run it, everybody goes, Oh, you're gonna pay, I don't remember what it was, let's say 10% of your income. I don't know what you got, I don't remember what it was. But because they, they knew what they were doing it and it makes your life so much easier. It's worth every penny. It's the only way I do it again, personally, but I'm sure there are other people who may manage their own.

Ann Lauderbaugh Himmelheber: 32:59

There are self managers, but you really need to be in state for that. And as I primarily work with out of state investors, a property management company is a pretty crucial part of the equation. I will say though, the property management is worth doing your due diligence and homework on just as with any other part of this process, is they can make or break your investment property.

Rick Ripma: 33:20

Well, my best friend. They own Zinder properties they've sold off, but they own a bunch of buildings, downtown apartment buildings, and just the stories of things that they had to deal with. It was it's amazing. And his dad had started the company and they had had it for 3040 50 years. I don't know how long they had it, but it was man, it can be a lot and it's if you can get somebody who knows what they're doing, it can really help. I think

Ian Arnold: 33:48

so who has mentored I know you basically it's your family business. But as anybody else been like a mentor towards you, helping you guide you.

Ann Lauderbaugh Himmelheber: 33:58

I would say that my father was the most pivotal person in my life for numerous reasons, but career wise most of all

Rick Ripma: 34:08

it's amazing how much family can matter especially if you've worked with them since you you did my boys have worked with me off and on and it does change the relationship when you're able to work with them. They sit you see your you saw your dad as a dad, but then when you work with them, you see him in a totally different light and I find it gives them a lot more respect for what some for what they did, and what they did for you so that you could have a great life. Absolutely. And so what do you do in your off time? I mean, you're showing properties you're you're fixing properties, you're doing all that? What do you what do you do for fun when you're not working? My mom

Ian Arnold: 34:48

for kids trust me I have to and I don't know I would I don't think I'd ever want a third but you got you got double what I have so you can have them that's I give you all the credit in the world.

Rick Ripma: 34:59

Yeah I have three but minor Oh, my youngest is 29. So they're all They're all gone. Rick kicked them out. I'll tell you what, that's not. It's great. And my wife would rather have them at home. But it is great. And it's so much fun to watch how they grow, just like it is when they're little right. I mean, you've watched your you said your oldest is 19. Yes. So you see him and you've seen him grow up. And, and it's amazing to me, I just I love that part of life. I think that's really interesting. Is he in school? Or what does he do? I see.

Ann Lauderbaugh Himmelheber: 35:37

He is he's at Butler University right now.

Rick Ripma: 35:40

Does he help you out around around the office? Any years?

Ann Lauderbaugh Himmelheber: 35:43

That's not his passion? My it is my 16 year olds passionate was

Rick Ripma: 35:47

it? And yeah, I love that answer. Because I see so many people who just want to push their kid into their, into their, their job, what they do their career. And none of my kids are doing what I do. But we encourage them to do what they what they wanted to do. Right? And if they had wanted to do this, they'd be here working with me. But if not, if not go do what you really have a passion for

Ann Lauderbaugh Himmelheber: 36:13

life is too short not to do what

Rick Ripma: 36:15

you got to do what you have a passion for. What key activity? Now, that's probably not a great question. What excites you most about the future?

Ann Lauderbaugh Himmelheber: 36:27

For now, I like I said, I truly do have a passion for Indianapolis and central Indiana in general. We're really just seeing the continued growth, both personally as far as being a real estate broker goes but also the construction company as well. Making this something it's a generational company. So I want it to continue on. Yeah,

Rick Ripma: 36:49

that's awesome. And you have a 16 year old who's very interested. Yes. Do they work with you? He does. He does. That's awesome. How long has he been working with

Ann Lauderbaugh Himmelheber: 36:57

you? About two years? Three years?

Rick Ripma: 37:00

So when he was 14? Yes, yeah,

ann: 37:01

he started laying dial them.

Rick Ripma: 37:03

Awesome. And so he does a constraint days helps them the construction. He does. Awesome. Yeah, that's, that's phenomenal.

Ian Arnold: 37:11

So what would be one thing, if somebody was looking to get into this, that you you look back on yourself, and you go, Hey, I wish I would have known this back in the day.

Ann Lauderbaugh Himmelheber: 37:24

That's, there's a lot of those choose from. I really, I would say, make sure that you're having two and three opinions, at least on things don't take someone's word for just like buying a used car, or use home is no different thing. You know, everything is fine. There's no issues with the property. And again, pulling back into get a general contractor's opinion on it, get an inspectors opinion on it. That's what I would say.

Ian Arnold: 37:55

It's it's I will say this, Rick and I have always preached always get an inspection. And it's kind of nice to hear from somebody who actually does construction and remodeling of homes that says look, even I get inspections. So that is phenomenal to hear advice. Yes.

Rick Ripma: 38:15

Excellent advice. I agree. In the past what have been some of the roadblocks that you've that you've had to overcome.

Ann Lauderbaugh Himmelheber: 38:24

As far as working with investors, they may not just be fully aware of the lenders terms. For example, as far as it pertains to refinancing thing, this you need a certain amount in cash reserves cash reserves does actually mean cash, it doesn't mean stock, you can sell off things like this, which can delay financing for a, you know, for getting refinance, which poses a problem on the with the front end lender for that hard money lender because you've only got six months to close that loan out. So you can really shortchange yourself there in terms of just not knowing what all the different terminology means in advance. So making sure you know the specific terms about finance would be most important. As far as other roadblocks go, I will say I've even met with the city of Lawrence about their sewer lines and running into issues there. One of the main problems that we run to run into in that general area is the main lines connecting the sewers. You have pockets in Lawrence that are unwell and septic, that they don't envision connecting those to the main sewer lines for another 10 years. That's a big problem. So there are physical actual problems with the construction side that we've run into and then there are people just not knowing better because they didn't know what they didn't know as far as financing things like this on the broker side.

Rick Ripma: 39:46

So on the on the on the sewers that was interesting to me. So are you saying there's a problem with the septic that they have today and there's no sewer to connect to we're just having a septic as an issue.

Ann Lauderbaugh Himmelheber: 39:58

Having septic in an abyss Golf isn't an issue if it's been properly maintained, but the only way you're going to find that out is to have the sewer inspected itself, which is different than a limited home inspection. That's a septic inspection. So you're going to draw in a septic company for that.

Rick Ripma: 40:14

Okay, and the same thing with water if it's well, you have to have a well inspect correct Yeah, that I'm on a well and septic sighs I just I thought, Well, wait a minute, I better understand what she's saying. Because personally, I've had it forever. And we have water in our in our neighborhood, we have sewer in our neighborhood I can hook up at any time I just mind works perfectly. So I don't see a reason to but I, if there's issues there, then then I'd have to consider that. What are your business goals for the year?

Ann Lauderbaugh Himmelheber: 40:45

My business goals for the year I think will just be to continue doing what we're doing. But do it in a fashion making it more of a machine so that I can outline specifically not only help investor saying these are the steps A through Z that you need to do to get an up and going investment property here in Indianapolis. But I'm always keeping my children in mind having it say an outline, basically for them to take over.

Ian Arnold: 41:13

That is a huge thing. And if anybody's ever been basically your own boss is having steps or a work plan is it's vital. Because if not, you'll get pulled every which way and not know what you're thinking oh, so that is brilliant that you are actually put one together and especially for your kids to, hey, this is what you do step one, step two, step three,

Rick Ripma: 41:41

right? Yeah, I find that. For me, I've never been a time blocker until recently. And I never understood it. And I even like for real estate agent or myself. And what we do, it just seems like it's really difficult to say this for this time to this time, this was what I'm doing for this time to this time. Because you get you get things happening all the time. But now I started time blocking. And it actually it's amazing how much more you get done by time blocking

Ann Lauderbaugh Himmelheber: 42:11

it, it shocks me, but manage your time better. Yeah,

Rick Ripma: 42:14

you're better at managing your time. And that makes that makes a big a big difference. But we are running out of time. So if somebody has any questions, and really I guess for you it's any investment, they're thinking about buying investment property, they want to buy an investment property, think about flip, they want to contact you how would they do that? What's the best way?

Ann Lauderbaugh Himmelheber: 42:32

The best way is my cell phone at 317-701-4131? Alright,

Rick Ripma: 42:36

and what's that number again?

Ann Lauderbaugh Himmelheber: 42:37

317-701-4131.

Rick Ripma: 42:41

I can't remember. So I have to keep asking. And they can get they can get that and you can tell him

Ian Arnold: 42:45

Yep, all of her information will be listed in the description. And if you wanted to get to talk to Rick or I go to HardWorkingMortgageGuys.com. And if you know any friends, family or coworkers that are looking to buy, sell or refinance or if you want to know somebody that wants to become an investor, contact any of us and we'll get more than happy to help you.

Rick Ripma: 43:06

Thank you so much for joining us and have a great day.