Hi everyone, I am a real estate investor from Toronto, Canada. Back in 2014 I bought a distressed property in Indianapolis, did a complete rehab and rented it out. My long time tenant will be leaving on April 30 so I am considering a possibility of selling the home - it is a good cashflow but Indy no longer fits my portfolio (rest of my projects are in Florida and Arizona).
Just wanted to ask the local Indy real estate pros on the timing of this - was the Indianapolis real estate market impacted by Covid-19 pandemic? Are people still buying these days or is it better to simply put a new tenant and to sell later on this year?
No slow down here in our office. Things still selling well and clients buying too. If you already had a price in mind pre- Coronavirus list it at that. I might wait til tenants are gone and you did a clean up though. Most people won’t want to buy a place that is almost vacant if they are going to keep it as a rental.
@Michael Kharlab It's still a little early to see what the impact will be but the Indianapolis market is still very strong mostly due to the fact that there is so little inventory. Our properties are still selling well. You're choices aren't mutually exclusive. You can put a tenant in and still sell it as a cash flow rental. There is huge demand for that.