Indianapolis vs. Detroit vs. St. Louis - Where should I invest?

Question

So I'll start by saying I've done some research on home costs, rent prices, employment #s, etc so I'm not starting completely from scratch. Indy, Detroit, and St. Louis all provide me similar low barrier to entry pricing but each have their own flaws.

What I'm looking for is feedback from those who are currently in these markets and what they like about the upside for these prospects. I will be trying to tour these cities in the coming months before making a final decision but anecdotal insights provide a much more colorful perspective for me to start sinking my teeth into.

Thanks!

Mike D'Arrigo · Answer

@Patrick Nissim This is an easy one. Indianapolis hands down. Unlike Detroit or St Louis, Indianapolis has a growing population, growing jobs and a modern, diverse economy and industries. The key is buying in the right neighborhoods. We've been active in Indy for several years. I'd be happy to share my insights and help if you'd like.

Erin Dorsey Robinson · Answer

@Alex Olson Good question. @Patrick Nissim if you're going to make a trip from California to tour Detroit you may as well pop over to Cleveland too. They are similar. I know both places. Cleveland is only 2.5 hours away. Let me know if you decide you want more info about CLE. Happy to show you how easy it is to make money here.

Dylan Tanaka · Answer

@Erin Dorsey Robinson if the COVID stuff is over by the time you get to Michigan hot me up and I'll key you in on all of the Meetups, big and small. Good Luck!

Paul S. · Answer

Agree 100%

Greg Scott · Answer

I live and own property in Detroit, I have owned property in St. Louis, and I currently own property in Indianapolis. Of the three, I prefer Indy. Here are my top reasons:

• Strong growth
• Diverse economy
• Property taxes are more predictable
• Detroit has some very pro-tenant communities (not sure about St Louis)
• In Marion County you can file for collection at the same time as eviction, improving the likelihood of debt recovery
• Likely to benefit the most from the flight of people and businesses from Chicago / Illinois

The downsides of Indy are 1) It is a smaller market and 2) While this does not affect me, their airport is smaller so the flights are not as convenient

Alex Olson · Answer

@Patrick Nissim Why only these three cities? Why not KC Cleveland, Memphis?

Chris Gosselin · Answer

@Mike D'Arrigo what neighborhoods do you recommend?

Patrick Nissim · Answer

Absolutely I'd love to connect! Sent you an invite.

Thanks!

Drew Sygit · Answer

@Patrick Nissim be sure you understand the difference between Metro Detroit and the City of Detroit.

They are both seeing population growth, but there are more challenges in the City of Detroit than most investors want to deal with.

I'd put the Ring Cities of Detroit up agaisnt anywhere else in the country.

Jeff Marzo · Answer

@Dylan Tanaka I'm heading out that way as well in a few weeks. Would love to connect with you.

Indianapolis vs. Detroit vs. St. Louis - Where should I invest?

Indianapolis vs. Detroit vs. St. Louis - Where should I invest?

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