Rental Property Investor · Los Angeles, CA · Member since 2017 · 30 posts · 12 votes
Hello BP members! I am based out in California and looking to invest in the Indianapolis area. Relatively a newbie but been lurking around BP for a couple of years now ingesting all the amazing contents and reading on my own as well. Finally decided to break out of this analysis paralysis and take action! Researched several markets and ultimately decided on the Indianapolis market after taking into consideration the population growth, income growth, crime rate trends and entry price for the properties I am looking for. I am hoping to build a team in the Indianapolis area and hoping to get some feedback/recommendation from you all.
My criteria at this time is 2-3 bdr, 1.5+ bath fixer-upper small multi-units (2-4 units) in a B neighborhood or up-and-coming C neighborhood with a primary focus on cashflow. I appreciate any feedback, insights or recommendations you may have especially what neighborhoods to focus on. Looking forward to connect with other investors in the area as well. Please feel free to PM for any recommendations.
@Manny Awasom I am brand new to BP and investing myself, but I lived in Indianapolis the last 20+ years. If you have any questions on neighborhoods etc, i’m more than happy to help.
@Manny Awasom I am brand new to BP and investing myself, but I lived in Indianapolis the last 20+ years. If you have any questions on neighborhoods etc, i’m more than happy to help.
Developer · San Diego, CA · Member since 2014 · 93 posts · 87 votes
6y
@Manny Awasom
Hey Manny. Congratulations on jumping in. I live in San Diego and have been investing in the Indianapolis area for the better part of 8 years. I am doing buy and holds, new construction and flips. We are are in the neighborhood of 15 to 20 transactions a year. I would be happy to help you out with any questions or information that you might need. I have an amazing team that I have built there. But trust me. It came with some challenges. The key is building solid relationships. You are on the right track by reaching out to fellow investors. Feel free to reach out. I would be happy to help how I can.
@Manny Awasom I am brand new to BP and investing myself, but I lived in Indianapolis the last 20+ years. If you have any questions on neighborhoods etc, i’m more than happy to help.
Hi Jessica!Thank you for your response and welcome to BP and investing! BP is very resource from my experience and I think you will gain a great deal of value from here. In terms of the area, what are some zip codes you would recommend exploring? My focus at this time is on class B neighborhoods and those along the path of progress. And if you don't mind me asking, do you plan investing in the Indianapolis market or are you focusing else where? Thank you in advance!
Hey Manny. Congratulations on jumping in. I live in San Diego and have been investing in the Indianapolis area for the better part of 8 years. I am doing buy and holds, new construction and flips. We are are in the neighborhood of 15 to 20 transactions a year. I would be happy to help you out with any questions or information that you might need. I have an amazing team that I have built there. But trust me. It came with some challenges. The key is building solid relationships. You are on the right track by reaching out to fellow investors. Feel free to reach out. I would be happy to help how I can.
Mitch
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Hi Mitch, thank you for the quick response. And congrats, appears as though you have found some success in that market. I do foresee it being a challenge especially for a newbie like myself but I welcome it and looking forward to learning along the road. Yes my focus at the moment is building a team in that market and would love to learn from your experiences and welcome any recommendations for personnel you may have. Do you mostly focus on SFH or multi-units? Also, I sent you a request to connect and if you don't mind I would like to send you a PM as well for personnel recommendation. Thank you!
Real Estate Agent · Honolulu, HI · Member since 2019 · 60 posts · 40 votes
6y
Hey Manny, I'm in almost the exact same boat as you. Newbie out of state investor but mainly focusing on SFH in Indianapolis. I've done a lot of research on the different neighborhoods so let me know if I can share any of my recent experiences with you.
The entire south side of Indianapolis will give you the biggest bang for your buck in regards to class B neighborhoods.
Southport - 46227
Greenwood - 46142
Franklin Township - 46239
These three areas are much closer to the heart of downtown, but are all very popular especially with young renters.
Irvington - 46219
Broad Ripple - 46220
Fountain Square - 46203
I moved to Tampa, but I would definitely be interested in investing in Indy. My boyfriend and I are under contract now for a duplex (our first investment). Trying to get all of the ends and outs of it all, there is quite a learning curve. ☺️
Hey Manny, I'm in almost the exact same boat as you. Newbie out of state investor but mainly focusing on SFH in Indianapolis. I've done a lot of research on the different neighborhoods so let me know if I can share any of my recent experiences with you.
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That's awesome John! Always great to see other newbies that are taking action and breaking out of analysis paralysis. I may be one step behind because I am still in the process of learning about the different neighborhoods. Based on your research thus far, what neighborhoods or zip codes are you focusing on? @Jessica Edwards shared a few above (thank you!) but feel free to add to the list if there are any different. Also, have you been able to establish a team there already?
The entire south side of Indianapolis will give you the biggest bang for your buck in regards to class B neighborhoods.
Southport - 46227
Greenwood - 46142
Franklin Township - 46239
These three areas are much closer to the heart of downtown, but are all very popular especially with young renters.
Irvington - 46219
Broad Ripple - 46220
Fountain Square - 46203
I moved to Tampa, but I would definitely be interested in investing in Indy. My boyfriend and I are under contract now for a duplex (our first investment). Trying to get all of the ends and outs of it all, there is quite a learning curve. ☺️
Thank you Jessica! I greatly appreciate that. I will take a closer look at those neighborhoods. And congratulations to you both on first investment! I hope all goes well and it's the first of many. It seems like the first is always the most challenging but provides the best learning opportunity.
Real Estate Coach · Salt Lake City, UT · Member since 2017 · 272 posts · 414 votes
6y
@Manny Awasom Great seeing you online last night and @leslie's meetup. Also very happy to see how much feedback you got on your post!!
So, I happened to talk with a guy that's looking for stuff in Indianapolis today. Saw this post, so I figured I'd hook the two of you up. Email or text me and I'll make an introduction.
@Manny Awasom Great seeing you online last night and @leslie's meetup. Also very happy to see how much feedback you got on your post!!
So, I happened to talk with a guy that's looking for stuff in Indianapolis today. Saw this post, so I figured I'd hook the two of you up. Email or text me and I'll make an introduction.
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Hi Brian! Oh what a small world! Thank you for your response and for the presentation yesterday! Much appreciated. But that would be awesome. I will send a text! I really appreciate it!
Real Estate Agent · Honolulu, HI · Member since 2019 · 60 posts · 40 votes
6y
@Manny Awasom I would say most of the B neighborhoods are on the outskirts of the city. You can find some pockets in the city like Irvington or Broad Ripple. Then there are a handful of C neighborhoods that have potential. I would recommend checking out this podcast from Simple Wholesaling where they have some local experts dive in to some of the different neighborhoods and why they make sense for investors. I think there are about 5 different videos all together that go over different parts of the city.
Investor · Indianapolis, IN · Member since 2019 · 63 posts · 24 votes
6y
@Manny Awasom my name is Keith. I'm a real estate investor in the Indiana market. My company is called Real Solution Ventures. If you're looking into the market I know it very well. If I can help you in anyway just let me know!
This is a great thread so far! @Manny Awasom I'm in the same boat as you: looking at a 2-4 unit (>250K) in Indy to house hack. I am currently located in Indiana, so I have the opportunity to get boots on the ground to learn the streets in the city.
I am currently looking in the following areas for my first place: Garfield Park, Windsor Park, East Fountain Square (right of State St), Reagan Park, and Friend and Neighbors.
I've chosen these areas because I want the neighborhood to be on its way up but not necessarily fully revitalized like the fountain square area.
This is a great thread so far! @Manny Awasom I'm in the same boat as you: looking at a 2-4 unit (>250K) in Indy to house hack. I am currently located in Indiana, so I have the opportunity to get boots on the ground to learn the streets in the city.
I am currently looking in the following areas for my first place: Garfield Park, Windsor Park, East Fountain Square (right of State St), Reagan Park, and Friend and Neighbors.
I've chosen these areas because I want the neighborhood to be on its way up but not necessarily fully revitalized like the fountain square area.
All good neighborhoods Drew. What I've found is that Indianapolis can really be street by street. Good areas can have good streets a block away from areas you might want to avoid and rougher neighborhoods can have a few streets that are starting to see improvement. Just underlines the importance of a good team!
That map is amazing! Are there maps like that for other cities?
Not that I know of. The map is great however it is a few years old and neighborhoods have evolved. Sterling White who I believe created the map is actually in the process of updating it so hopefully we get an updated version in the near future.
@Manny Awasom I would say most of the B neighborhoods are on the outskirts of the city. You can find some pockets in the city like Irvington or Broad Ripple. Then there are a handful of C neighborhoods that have potential. I would recommend checking out this podcast from Simple Wholesaling where they have some local experts dive in to some of the different neighborhoods and why they make sense for investors. I think there are about 5 different videos all together that go over different parts of the city.
@Manny Awasom my name is Keith. I'm a real estate investor in the Indiana market. My company is called Real Solution Ventures. If you're looking into the market I know it very well. If I can help you in anyway just let me know!
Thanks,
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Thanks Keith. Will make note of it. Appreciate the contact.