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Calling everyone from Indianapolis
8 posts by 6 users
Alexis D.Real Estate InvestorIssaquah, Washington 
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Or those who invest there and know the area very well. I currently have 2 rentals in Indy in an area that I really believe is a great area. It's just outside of the city and seems to be desireable for renters and buyers alike. Unfortunately, there aren't always opportunities around there...or at least ones that meet my standards. Where else in the vicinity would you suggest to be a good neighborhood? It's so hit or miss, and without living there, it's hard to determine. I'd appreciate your suggestions! |
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Blue Moon R.CA
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Anderson to the northeast can be good if you buy smart, and have a strong property manager. Terre Haute to the South even more so with the same strategy ... BMR |
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GzarelliIndianapolis, Indiana 
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What type of neighborhood are you specifically looking for? Different investors have different ideas as to what makes a " good" neighborhood. Fill me in a little bit on your investing philosophy and I should be able to help you out. |
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Alexis D.Real Estate InvestorIssaquah, Washington
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single family homes or duplexes
I prefer to find REOs because of the price, but don't want the street to be flooded with vacant homes. The two I have are north of the city and north of 38th St. I want to keep my all in price to under $60k. Does this help? I know there are areas east of the city that are a no go...I want average people to rent to...not drug lords and prostitutes! I also don't want a pretty house on an ugly block. I want average. I want to get by with minimal work to create a nice rental. |
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GzarelliIndianapolis, Indiana
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The following links may be of some help for you: Metropolitan Indianapolis Board of Realtors
Indy REO
from left menu, select listings ---> bank owned listings
Google Maps
If you see a home that interests you, type the address in here and pull it up on the map; you may be able to view the home in Street View and " walk" around the neighborhood to check things out If you have any questions about a specific home / area, feel free to shoot me a message. Hope this helps. [/url] |
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Daniel G.Real Estate InvestorSan Diego, CA 
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I invest a lot in Indianapolis for cash flowing properties. One strategy that I do since I'm an out of town investor is to call the local police department to pull the police reports for the last 6 months. Neighborhoods can change within a couple blocks. Some crime is ok but areas with aggrivated assult crimes and breakins I try to stay away from them. The Indianapolis police department use to maintain a web site with all the crime statistics but they stopped updating it 6 months ago. Here is a good resource: http://www.focusindy.com. This web site lists all the redevelopment areas of the CDC. Investing in the redevelopment areas can give you a nice return as long as the area is also being revitilized with private funds. If you are looking for multiunits I can suggest one apartment on 38th street along the corridor where the City invested 28 million and a lot of rehabbing is currently taking place. |
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Michael J.
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This is good to know. i live close to Indy and am planning on eventually buying properties in that area. |
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Kevin M.Real Estate InvestorMurfreesboro, TN 
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I lived in Indy for 6 yrs. Awesome city. I have a property under contract there which I'm wholesaling for the owner -it's off E. Mass near downtown (you can see it on my profile). The house is dirt cheap with an extra lot included-looks to be a pretty lot-ie. tree /bushes bordering it, but I can't seem to able to generate a lot of interest from investors (made a bunch of calls / emails as we just started marketing it last week). I'm wondering if investors have just gone cold there. But perhaps from your posts I'll figure out what's missing. Will check out police reports. Or anyone have thoughts? |
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Posted: 06/18/2008 at 10:51AM