Investor · Antelope, CA · Member since 2014 · 59 posts · 21 votes
Hello BP,
I was hoping to get some input on a few specific areas around Indianapolis for SFH long term buy and hold:
I see a lot of discussion on Lawrence and how even the lower end houses around 50k can be a steady area with a decent tenant class (if you disagree please let me know!)
I also am looking into south west of the city, near Wayne. Specifically just north east of the Indy airport, but can't seem to find any info or previous discussion on this area. How is it in your opinion?
How confident are you on the revitalizing areas within the city, such as Fountain square, or more specifically, the border areas around Ft.Sq.?
Also, any leads on outstanding PM companies in Indy would be helpful! I am looking to acquire a few properties before February.
I am with you on the Lawrence area. I sell a decent amount of homes in that area and it seems to be doing well. The further north in Lawrence the better.
I think Fountain Square will do well in the coming years and that can definitely expand outward with the right growth. I have a couple of clients now trying to buy in that area and cannot find anything worthwhile. The same has to be going for renters as well. Some areas of Fountain Square seems to be progressing quicker than others from what I have seen (mostly to the west side of the area).
I don't do much in the Wayne township area, so not much input I can give you for that area. I don't think the demand is as strong.
As for a PM, try Red Door Property Management (http://www.reddoorrents.com/) - and tell them I sent you if possible.
Let me know if I can be of any other help. and Good luck!
Lawrence is fine, north of Pendleton pike. Lots of different areas that are part of Lawrence. From million dollar homes, to some of the highest crime areas in the city.
@Tyler Haskell I own [and sell] several homes on the east side plus a few on the west.
Lawrence is fine for rentals [IMHO]. Like the rest of the city, it can be street by street but overall not bad. 38th & Post Road can be a little dicey in spots but still fine.
Anything west of Tibbs seems to be going well. I prefer Eagledale & Speedway. Then, of course anything west of I-465 is golden.
I always have a few occupied and cash flowing properties available plus several wholesale opportunities in these areas.
Please PM me for a couple good PM recommendations.
Hello Tyler, I have a few rentals on the west side in Wayne. I prefer to stay outside of 465, you will get a little better client. I have been looking into Lawrwnce also, you can get a quality brick ranch over there for 50-60k. It's going to cost a little more on the west side. I agree Eagledale is a great rental market, you should be able to hit the 2% rule there. It is a little harder as you get outside of 465. good luck, Craig
@Tyler Haskell I wouldn't rule out looking inside the 465 loop. There are plenty of good pockets/neighborhoods within Center township. Some neighborhoods I'm currently looking into or own in are Emerson Heights, Fountain Square, Bates Hendricks, Little Flower, Irvington, Christian Park, etc. I do also own a property in Lawrence, so I understand that side of it as well. The good pockets in Center township offer a bit of a different type of property than you'll find in, say, Lawrence, but both can definitely work. All depends on what you are looking for. Let me know if I can be of help.