Rental Property Investor · San Jose, CA · Member since 2018 · 43 posts · 22 votes
Hi there,
I've done quite some research to find a great city to buy and hold rental properties and my research has led to Indianapolis, IN.
For reasons:
1. IN is a very landlord friendly state.
2. Prices of many SFR are still very affordable. (<$150k or even <$100k)
Questions:
1. Anyone has any insight whether it's a great or undesirable city for rental properties? If not, which ones are on your list or where you hold rentals in?
2. Which zipcode of Indianapolis would be good for buying and holding rental properties?
Rental Property Investor · Mansfield, OH · Member since 2017 · 151 posts · 117 votes
8y
Hi @Steve Sun - i've Purchased 8 SFH's over the past 5 years with a turnkey provider in Indy. Their acquisitions team has also made the statement that it is street by street but because the city of Indianapolis has a large surplus of funds they are constantly revitalizing neighborhoods some of which are in opportunity zones so there is still good deals to be found.
Developer · Nashville, TN · Member since 2016 · 484 posts · 406 votes
8y
@Steve Sun - It's a great city to invest in. You just have to know where. To go by zip code would be disastrous. Things change here street by street. The key is in knowing which streets are better, and of course, ongoing management. We've done over 300 doors here. PM me if you want more info.
@Steve Sun - It's a great city to invest in. You just have to know where. To go by zip code would be disastrous. Things change here street by street. The key is in knowing which streets are better, and of course, ongoing management. We've done over 300 doors here. PM me if you want more info.
I've done quite some research to find a great city to buy and hold rental properties and my research has led to Indianapolis, IN.
For reasons:
1. IN is a very landlord friendly state.
2. Prices of many SFR are still very affordable. (<$150k or even <$100k)
Questions:
1. Anyone has any insight whether it's a great or undesirable city for rental properties? If not, which ones are on your list or where you hold rentals in?
2. Which zipcode of Indianapolis would be good for buying and holding rental properties?
Thanks!
Indianapolis is definitely a hot spot. As with any out-of-state investment, had a clear plan on your involvement. Do you want turnkey, renovate, etc? Do you want to self-manage or hire a PM? If you use a PM, make sure you understand their services vs. your expectations.
Rental Property Investor · Mansfield, OH · Member since 2017 · 151 posts · 117 votes
8y
Hi @Steve Sun - i've Purchased 8 SFH's over the past 5 years with a turnkey provider in Indy. Their acquisitions team has also made the statement that it is street by street but because the city of Indianapolis has a large surplus of funds they are constantly revitalizing neighborhoods some of which are in opportunity zones so there is still good deals to be found.
Rental Property Investor · San Jose, CA · Member since 2018 · 43 posts · 22 votes
8y
Thanks Kenny,
I've listened to tons of podcasts on BP and read a few books regarding real estate investing, I'm more leaning towards doing everything by myself, esp. for the first time, I view it more as a learning opportunity, to eventually have thousands of homes in my portfolio. I'd like to learn building teams, including contractors, agents, lenders, PMs.
I've done quite some research to find a great city to buy and hold rental properties and my research has led to Indianapolis, IN.
For reasons:
1. IN is a very landlord friendly state.
2. Prices of many SFR are still very affordable. (<$150k or even <$100k)
Questions:
1. Anyone has any insight whether it's a great or undesirable city for rental properties? If not, which ones are on your list or where you hold rentals in?
2. Which zipcode of Indianapolis would be good for buying and holding rental properties?
Thanks!
Indianapolis is definitely a hot spot. As with any out-of-state investment, had a clear plan on your involvement. Do you want turnkey, renovate, etc? Do you want to self-manage or hire a PM? If you use a PM, make sure you understand their services vs. your expectations.
Hi @Steve Sun - i've Purchased 8 SFH's over the past 5 years with a turnkey provider in Indy. Their acquisitions team has also made the statement that it is street by street but because the city of Indianapolis has a large surplus of funds they are constantly revitalizing neighborhoods some of which are in opportunity zones so there is still good deals to be found.
Lender · Philadelphia · Member since 2018 · 11 posts · 6 votes
7y
@Hank Keller - Hi Hank. I’m an OOS investor looking to get into the Indy market. Would be great to connect with you and hear about your experience working with turnkey providers.
Rental Property Investor · Mansfield, OH · Member since 2017 · 151 posts · 117 votes
7y
It would be my pleasure to share my experiences Melissa . It’s been just like my rentals in Ohio only better :-) (not having to do the work). I’ll make myself available for a call if you’d like. Travelling back home from DC and will be available...
Originally posted by @Melissa Maw: @Hank Keller - Hi Hank. I’m an OOS investor looking to get into the Indy market. Would be great to connect with you and hear about your experience working with turnkey providers.
Can anyone with rentals in Indy recommend a good property manager? I'm about to fire mine. I'm up to podcast #92 and I've picked up on staying on top of your property management. Thanks for any and all info.