My wife and I are newbies. We live in Michigan, and have looked for potential houses locally, but havent found much we were interested in. We have a son who is a sophmore at Butler University and we really love the houses in the Butler-Tarkington neighborhood. We have been discussing starting in that area and after listening to David Greene on the podcast this week, we are more determined than ever, this is where we want to start investing. We are open to flipping and/or rentals. My question is are there any other up and coming Indianapolis neighborhoods we should look into? Also any advice on lenders, wholesalers, property managers, etc. would be greatly appreciated.
Thanks in advance,
Nicholas, there are several up & coming neighborhoods in Marion & Hamilton counties, you wouldvjust have to analyze deals and determine your ideal profit margins. Also, determining your risk factors based on the particular section of that neighborhood you choosecascyour next target market. Hop this helps. I am from Indianapolis so feel free to reach out if you have more specific questions.
@Reggie Greene Thanks for the help. I find it hard to determine the ARV of some of these homes we are looking at. Some of the comps seem all over the place, people are taking these homes and making them look immaculate. I would love to be apart of bringing these older homes and neighborhoods back to life.
Nicholas, please forgive my spelling as I was typing on my smartphone instead of my pc which I'm on now. At any rate, you would definitely want to take a look at historic areas and there are pockets of great areas close to downtown which is really revitalizing right now. Bates-Hendricks area and Fountain Square areas come to mind right off the top of head right now. In addition, a investor-friendly real estate agent should also be able to give you great comps for these areas that may be hard to valuate from a numbers standpoint.
Thank you for the recommendation on Bates-Hendricks and Fountain Square. I have been looking in those area and they have some great houses. My son goes to Butler, so we spend most of our time there, Downtown and Carmel. I will definitely have to drive around these areas when we take him back. We have found a realtor and she is very responsive and has been sending us comps of the houses we inquire about. She recommended Beech Grove as a good area to look at. Do you ever see any good deals over there?
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