Looking to buy in Terre Haute, IN - any advice?

Question

Hi, I live in Los Angeles, CA. I am a realtor and investor here in LA only :). Been wanting to buy out of state and was told by an investor I know that she likes Terre Haute, IN.  Would love to hear what you know about this area. Thanks!

Tracey L Symon · Answer

Hi Paula

I am actually an agent in Terre Haute. We do have 3 colleges here and our growth east and south will continue. We have jumped about 30 percent in value in the last 3 years. I have a client with 88 rentals and 6 ARBNB. The ARBNB business I think take hold after the casino open ARBNB is relatively new in this area. We are still seeing traveling nurses, and some need short term for the colleges.  I would be glad to send you listings from eh MLS just let me know. Tracey Symon

Gloria N Gear · Answer

Hi Paula, I have a friend that invests exclusively in Terre Haute and she has been trying to get me to start over there.  She says that the price point is low, but rent prices are good and the tenants are great.  It is more of a small town feel with rural type people that are hard workers and take care of their properties.  It is also a college town so you could get students and I have another friend that does well with mid-term rentals for traveling nurses there.

Adam Oldham · Answer

Hey @Paula Reavlin while I haven’t invested in that market myself, I live in Indianapolis, I can tell you that Terre Haute would be a good market for cash flow. Housing prices are relatively low & rents are high enough to cash flow. It also has a lot of working class people. Indiana in general is a good state for its favorable landlord rules.

Okechukwu Ofili · Answer

Hi Wes. I hear about 12 points having good and bad areas. What part would you recommend out of state investors to avoid?

Staci Rogers · Answer

Hi Paula,

I've seen an influx of investors picking up properties in Terre Haute. Terre Haute is a college town and has growth potential due to new businesses coming in. Entek will create over 600 jobs by the end of 2027, and a casino is scheduled to open in early 2024, adding additional jobs. House prices are affordable, and the favorable rents are providing properties that cash flow well for the investors.

Let me know if you have any questions.

Staci

Wes Ingram · Answer

@Paula Reavlin, I have been investing a bit in Terre Haute for the last two years. I would echo the above comments that it has good cashflow for the pricepoint. It also doesnt have bad appriciation latley. As more manufacturing repatriates and especially midwest I think Terre Haute is primed for further appriciation and growth. There are also quite a few opportunities for flip or fix and holds in the downtown areas and around Indiana State Uni and 12 points.

Kerry Noble Jr · Answer

Let me ask.....Why terre haute?

open to discussing more around Central IN if you want to

Paula Reavlin · Answer

Thanks for your input Adam! Thinking of taking a trip to check out the area for myself.

Looking to buy in Terre Haute, IN - any advice?

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