Where to invest in Indianapolis?

Question

Hi all!

I'd like to start investing in SFR's in the Indianapolis area and would appreciate you input on favorable surrounding cities, neighborhoods, and what areas I must avoid. My budget is around $100K per property. My strategy is Buy & Hold. My understanding is that investors tend to focus more on the northern and western parts of Indianapolis (e.g., Carmel, Noblesville, Fishers, Avon, etc.), and I wanted see whether you agree or think differently.

Thank you!

Pablo Ramirez · Answer

@Itay Peer

Hi Itay,

I had the same question about Indy and decided to make a 3 day trip out there to see it myself. I’d suggest scheduling a trip and building a plan for what areas you want to see each day. Check out some BP posts already mapping out great areas of Indy to invest, as well as an investor friendly realtor’s suggestions. Take advantage that you’re there to meet with a realtor, PM, attorney, contractor, etc. It will be a lot easier to contact these people later on once you’ve established an-in person connection.

Take lots of pictures/notes for yourself, especially since you’re new to investing in the area. Without my notes, I wouldn’t remember half what I saw. Talk to homeowners on the street if they’re sitting in their front yard. I made valuable connections by just saying hello to them, and now I’ve got boots on the ground to help me identify a new property or any neighborhood changes.

Best of luck!

Itay Peer · Answer

@Nick Giulioni - Thanks

@Pablo Ramirez - agree, definitively on my to do list

@Mike D'Arrigo - Thanks. I will reach out.

@Luke Stewart - Thanks for you input

Luke Stewart · Answer

There are a lot of really solid parts of town for investing outside of those Fishers, Carmel, Noblesville, etc areas that people do not talk about as much. Irvington, Bates Hendricks, Butler Tarkington, and Fountain Square can all offer solid areas and returns for a lot smaller purchase price than those north-side areas.

Nick Giulioni · Answer

Agreed with all of this! I prefer B areas to C, though!

Mike D'Arrigo · Answer

@Itay Peer It depends on what class of property and neighborhood you're looking for. Carmel is an affluent, expensive area that is primarily A Class. It won't cash flow well. Noblesville and Fishers are going to be a mix of B and A class. There are some very good B and even C class areas within Indianapolis that in my opinion are the sweet spot for CoC returns. The problem is that Indy varies neighborhood to neighborhood and even street to street so it's difficult to identify a particular area categorically. I've been active in Indy for about 10 years and know it well. Feel free to reach out if you want some help or insight.

Nick Giulioni · Answer

I really like Irvington and the area south of Butler.

Where to invest in Indianapolis?

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