Hi Shawn. I live in Muncie and if all goes well I am a couple of weeks from closing on my first investment property in Muncie.
First off, congratulations!!
What made you decide to buy over there?
From what I’m gathering from other posts, the main renters would be college students and hospital workers?
Also, are you going to manage the property or use a company to do that?
I currently live here in Muncie and own 7 rentals and the reason I don't really post on here often is I don't have much time. A few people have reached out to me and I always happy to share what I know about this place. I have a different approach that seems to have been working well for me.
Hey Joe, thanks for posting. I've looked into the Indiana market a couple times, but have yet to pull the trigger out there. Since that's where Ball State is, are most of your tenants college students? What else makes that a desirable market?
Yes Ball State is here and lots of rental opportunities! That being said with my construction background, the availability of SFH that need to be rehabilitated and the need for quality rentals here, I choose to rent to the locals. With a higher end rental I can get top dollar and also screen my tenants really well. I haven't had many tenant nightmares yet. I don't think my rentals will appreciate like the college rentals but they have a great ROI once I get them fixed up and rented. I haven't ruled out college rentals this is just the path I am on at the moment.