Updated about 2 months ago on . Most recent reply
Student Housing in Indianapolis Indiana
Hello! I have been presented a portfolio of student housing rentals by the owners. They have them listed with another RE Broker, but are asking if I have a potential buyer. They are a package of SFHs on the south side, by the University of Indianapolis.
Do any of you have experience with student housing in Indianapolis or central Indiana? Success or horror stories? What type of returns have you experienced?
I assume the ROI would be similar in other Midwest states near Indy. Like maybe Ohio?
I'd like to get input from some of you that have "been there, done that"! Thanks!
- Pam Brown
- [email protected]
- 317-652-1607
Most Popular Reply
I drove by and looked at all 20+ of them. Area was okay, typical.
Some were nicer than others, also typical.
But what stood out the most, and was the most concerning... was the lack of truthful legitimate financial data to back up the claims. The realtor/rep of the "seller" kept providing me a word doc and excel sheet of "financial" data. Anyone can easily do that. I can put crap in a word doc all day long and make claims that these are "my numbers". For over 45 days I bickered back and fourth with this guy to get hard numbers backed by financial statements. Offered to go through the correct channels of signing NDA etc. Still.... provided me with the same doctored stuff.
I moved on after that.... and it is no surprise they are till on the market after a year. Think about that.