Starting out with multi family home investments

Starting out with multi family home investments

Indianapolis, IN · Member since 2017 · 15 posts · 3 votes
Hello everyone, My name is Rico Stewart I'm a 20 year old from Indianapolis, Indiana, and will be completing my second year as a Business Management/Finance major at IUPUI (Indiana University). I would like to make the point that I have no experience in real estate investing other than helping my dad flip homes when I was younger. I would love to learn more about the industry, as I plan to begin investing in multi family homes within the next year or so. I am aiming to even to learn as much as possible in the real estate investment industry. I have read a bit of content and listened to quite a few podcasts and videos relating to real estate, but I have a hell of a lot to learn still. If any of you may have any recommendations on how to get started, what to look for, what books to read, people to connect with, etc. I would love to hear your ideas. I am new to BiggerPockets, and I looking forward to connecting with this community of like-minded individuals.  Thank you all for your time, Rico Stewart
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  • Real Estate Agent · Indianapolis, IN · Member since 2015 · 87 posts · 56 votes
    9y

    Hi @Rico Stewart and welcome to BP! I'm sure that you'll here from other people (and myself) that residential multifamily can be a tough way to go in Indy. A lot of our multifamily inventory is in older and less desirable parts of town. However, there can be some opportunity around the city and even in revitalized areas downtown. There are additional challenges like increased tenant turnover that also makes investing in multifamily a less attractive route in Indy. The returns can be a lot better than a single family home if you can manage those risks, however.. 

    Hope this helps (and doesn't damper your enthusiasm!). I'm  an agent and investor in the area - happy to talk and answer any questions you have!

  • Investor · Seattle, WA · Member since 2011 · 253 posts · 112 votes
    9y

    @Rico Stewart

    Don't listen to the naysayers about steering clear of multi-family.  Just as Erin says, there are great multi family investments in better areas of town!  

    Come to our RE meetings!  CIREIA, INREIA, and Alpine are the ones I attend. There's also a north side BP group that I haven't been to yet.  It would be great to meet you.

    And I know everyone on here is jealous that you're starting so young!  I certainly wish I had! 

  • Indianapolis, IN · Member since 2017 · 15 posts · 3 votes
    9y
    I appreciate all of the help from you both and I plan to go to the next CREIA on February 2nd. Hopefully I can meet you both there and make some good connections in this industry!
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