More great reasons to invest in Indianapolis.
✅ 26% expected increase in population over the next 30 years
✅ 4.4% forecasted rent growth for 2021
✅ 68% growth in tech jobs since 2006
Indianapolis will definitely start to gain more attention in the coming years. Cap rates are steadily compressing every year and it's a pretty competitive market already for multifamily investors.
📌Would you consider investing in Indy? What markets are on your radar for 2021?
Thanks to Cushman & Wakefield for publishing. Check it out here!
Love to see this! Thanks for sharing!
No problem @Nick Giulioni ! How is 2021 going for you so far?
On one hand I love sharing how awesome the market Indy is, on the other I want Indy to keep it flying under the radar to keep prices reasonable and yields up.
@Spencer Gray Haha! Sorry, didn't mean to ruin it. Dan Handford had the MFIN summit a few months ago and Neal Bawa had Indy listed as number 1 for a few of his different top 2021 market picks. I thought the cat was out of the bag then.
Originally posted by @Justin G. :
No problem @Nick Giulioni! How is 2021 going for you so far?
Crushing it so far! :)
What type of multifamily are you after and what structure do you normally employ?
@Rodney Sipes Hey Rodney, we target C+ and B assets between 50 and 200 units in Indiana and Kentucky.
@Nick Giulioni How are things going with you? We should connect when your schedule allows.
@Justin G. I've heard a lot of great things about Indianapolis. Sounds like it's only up from here for that market!!
Is your team more interested in yield or appreciation?
Very insightful research by Cushman & Wakefield. Thanks for sharing, Justin!
@Logan Sanford Absolutely! Thanks for looking. Glad to see another local Hoosier in the forums.
Speaking of indy, are there any local meetups?
@Mike Wasson Yes
Cushman Wakefield puts out great content @Justin G. , but agree completely. Indianapolis is the place to invest
@Justin G. I agree. We've been active in Indianapolis for 10 years and this is the hottest I've ever seen it. Although Cap rates are compressing, that's occurring in many popular cash flow markets. Even though prices are increasing, cash on cash returns which are more important than Cap rates to financed investors are very strong due to low interest rates. The reasons I think Indianapolis is a great place to invest are:
1. Very affordable prices
2. Strong cash flow and COC return
3. Growing population
4. Growing jobs (pre COVID)
5. Modern, diverse and growing economy
6. Landlord friendly
@William Costello I agree! And a pretty nice place to live as well.
@Mike D'Arrigo Those are all great points. Very landlord friendly state. This has helped me out more than once.
@Justin G. Great information, thanks for sharing!