Neighborhood insights Indianapolis

[Alyssa Feliciano]

Hi BP!

I've just finished a mentorship program to implement the BRRRR strategy in my chosen market which is Indianapolis. Part of my strategy is to get laser focused on one or two neighborhoods. I've watched YouTube videos, and listened to podcast about the different neighborhoods. 46218/9 and 46203 have peaked my interest the most. I'd like to get your insights, and experiences on these neighborhoods and maybe some others you are seeing growth in.

Also I'm am in the process of building my team and would love to makes some connections.  I plan on taking a trip out to Indy but in the spring when it warms up, fair weather Californian over here.

Thanks for taking the time!

Alyssa

[Lionel Li]

Hey Alyssa, awesome to see you honing in on the specific targeted areas rather than a scattered shot across the whole city. I'm OOS as well and have (1) rental within 46219 and all my other rentals surrounding the area, so that's the only part I'll speak to. 

You might have learned already from your mentorship but many areas should be looked at on a street by street basis. I generally think east of the 465 in the 46219 zip code is less 'street by street' and on the southeast quadrant of the intersecting highways is safer to generalize as a better area. I've driven through that quadrant extensively when I went because I was putting in offers for a couple at the time and that was my conclusion, but the prices now reflect that as well.

All of my rentals around that area have performed very well from when I started in late 2017 until today from a cashflow & appreciation standpoint, even throughout the pandemic. The rents and prices have grown substantially. No issues with break-ins during renovations that I've been hearing from other investors in other areas, no tenant trashing the place etc.