Class B Areas and growing suburbs around Indianapolis
Hey folks,
I got my first property last year at Indianapolis in a Class C area. (Glad to have done it esp. after which interest rates started shooting up crazy!).
Meanwhile, I have started to study the town closely and want to keep my buy-box focused on Class B properties after hearing many investors claim that they are tired of its problems despite its better cashflow, esp. being OOS investor.
I know places outside 465 loop are generally considered Class B, like Avon, Plainfield etc. Any other growing markets around Indy you have observed/invested at?
Looking for some more info from fellow investors who have had success with Class B markets for buy-and-hold rentals.!
Just weighing in that I also prefer class B rentals. Class C properties tend to have a lot more deferred maintenance, and that bill comes due one day!
Quote from @Taylor L.:
Just weighing in that I also prefer class B rentals. Class C properties tend to have a lot more deferred maintenance, and that bill comes due one day!
Thanks! As a newbie, its definitely tempting to run behind crazy cash flow and sub 100k properties, but I think I need to shift my mindset early in my investing journey to avoid the problems you mentioned!
Quote from @Shankar Sridhar:
Hey folks,
I got my first property last year at Indianapolis in a Class C area. (Glad to have done it esp. after which interest rates started shooting up crazy!).
Meanwhile, I have started to study the town closely and want to keep my buy-box focused on Class B properties after hearing many investors claim that they are tired of its problems despite its better cashflow, esp. being OOS investor.
I know places outside 465 loop are generally considered Class B, like Avon, Plainfield etc. Any other growing markets around Indy you have observed/invested at?
Looking for some more info from fellow investors who have had success with Class B markets for buy-and-hold rentals.!
Personally I have seen there is a lot of growth moving further east from Indy, but I am more so interested in the Southside. With the highway infrastructure there has been quite a bit more business and people moving south further because land is (was) cheaper. Martinsville has had a huge influx for example. That’s just my two sense however there are quite a bit of growing areas outside of the 465 loop. I work inside the loop and although there is gentrification happening in certain areas that made out of state investors flood in years ago, there are still a ton of run down areas close to downtown. I personally am looking outside the loop as competition is far less as well.
Hi Shankar, I have started my real estate journey here in Indianapolis. Now, I have more than a hundred doors. I would love to connect and share my experiences and chat with you more if you're interested.
Quote from @Shankar Sridhar:
Quote from @Taylor L.:
Just weighing in that I also prefer class B rentals. Class C properties tend to have a lot more deferred maintenance, and that bill comes due one day!
Thanks! As a newbie, its definitely tempting to run behind crazy cash flow and sub 100k properties, but I think I need to shift my mindset early in my investing journey to avoid the problems you mentioned!
I am also looking for a sub 100k class b
Quote from @Dalton Foote:
Quote from @Shankar Sridhar:
Hey folks,
I got my first property last year at Indianapolis in a Class C area. (Glad to have done it esp. after which interest rates started shooting up crazy!).
Meanwhile, I have started to study the town closely and want to keep my buy-box focused on Class B properties after hearing many investors claim that they are tired of its problems despite its better cashflow, esp. being OOS investor.
I know places outside 465 loop are generally considered Class B, like Avon, Plainfield etc. Any other growing markets around Indy you have observed/invested at?
Looking for some more info from fellow investors who have had success with Class B markets for buy-and-hold rentals.!
Personally I have seen there is a lot of growth moving further east from Indy, but I am more so interested in the Southside. With the highway infrastructure there has been quite a bit more business and people moving south further because land is (was) cheaper. Martinsville has had a huge influx for example. That’s just my two sense however there are quite a bit of growing areas outside of the 465 loop. I work inside the loop and although there is gentrification happening in certain areas that made out of state investors flood in years ago, there are still a ton of run down areas close to downtown. I personally am looking outside the loop as competition is far less as well.
yes.good idea
If you are looking for value, I personally think the west side near IUPUI is ripe for further development as well as the south side.
As far as BAM is concerned we have properties in Camby, Pendleton, Greenfield and some of the areas outside the loop.