Cons of investing in Indianapolis that I might not know
I’m considering investing in the Indianapolis market within the next 4-6 months. I’m looking to purchase 5 properties of up to 150K each with cash. But there are some cons I’m probably unaware of. I’ve been doing constant research on that market but here is something I’m now concerned about and would like to hear from you guys.
Winter in Indianapolis. I know it gets cold and icy there but as someone from Southern California I never experienced what it’s like to live somewhere where it snows. I don’t know what it’s like to have to deal with snow on a daily basis and all the dangers that come with it.
So, I have some questions for those who have more experience living in snowy areas.
1) Do I have to pay someone to clean the walkways to the properties every time it snows? What about the sidewalk?
2) If a tenant slips and falls because of ice on the property, am I liable for their injuries?
3) What happens to pipes? Do they freeze and break? Is having pipes replaced a constant expense? And when it warms up do they leak due to damage caused by the ice?
4) How often do furnaces and AC units break due to the cold weather?
These are just some of the questions I can think of right now. I’m sure there’s a lot more that I don’t even know to ask.
Thank you