I have a potential lead and I'm just curious if it's worth pursuing. Located in Marion Indiana. Any active investors? Buyers? Landlords?
i funded I think 4 deals in Marion we lost money on each and every one of them
if your just wholesaling or whatever your doing and just in and out.. should be fine but for long term buy and hold pretty tough spot.. at least it was 7 to 8 years ago when I was active there. the good news is you do not have inner city issues IE thefts and destruction of property.. you can lock up a house and come back a year later and it looks the same.. Ask me how i know.
Originally posted by @Jay Hinrichs :
.. you can lock up a house and come back a year later and it looks the same.. Ask me how i know.
Ok, how do you know??
7 years was a long time ago. Are you unlikely to ever consider Marion again from your experiences, or would you be willing to take another look?
I grew up in Anderson and I used to know Marion very well, not so much any longer. What you need to investigate is what the unemployment rate is there and what kind of jobs there are.
Investigate Anderson as well if you're curious. Anderson's only saving grace over Marion is that it's close enough to indy to be a BR community. 10 years ago 25% of working adults in Anderson commuted to the greater Indy area for work. Today it's about 35%. Marion's a bit too far to commute. If industry hasn't returned it'd be a difficult market.
Account Closed all 4 of my loans defaulted and it took about a year to unload them. but no vandilsm like you would get in any of hte bigger cities like in the mid west given the same price points.
@Jay Hinrichs thank you very much. The areas you know of will never cease to amaze me. This would be an in/out.
Marion has had declining population for 30+ years, and no reason to expect that to change. I wouldn't take a free house there
@Rusty Scott house actually was for free LOL