Indianapolis - Need insights from SRT property managers

Member since 2022 · 1 post · 1 vote

Hi,

I'm a rookie investor from Bay Area want to acquire my first OOS property in Indianapolis. I'm currently actively searching for investment properties with a realtor. I would love to hear thoughts from property managers managing STRs in this area.
What are the things I should watch out for, know or keep in mind while searching for this property.

This will be my first short term rental investment, would really appreciate any pointers. I'm intentionally keeping this vague since i'm not sure what specific questions to ask at this point.

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Mike D'ArrigoPro Member

Turn key provider · San Jose, CA · Member since 2010 · 4k+ posts · 3k+ votes

Indianapolis is a great market for STR. It is a very active convention destination and it is also the sports capital of the country with the Indy 500, Brickyard 500, NCAA Finals, The Indianapolis Colts, Indianapolis Pacers not to mention the hospitals and univerities. Another good market for STR is Kansas City. KC get 35M vistitors a year that spend $1.4B in accomations.

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Mike D'ArrigoPro Member
Turn key provider · San Jose, CA · Member since 2010 · 4k+ posts · 3k+ votes
4y
Indianapolis is a great market for STR. It is a very active convention destination and it is also the sports capital of the country with the Indy 500, Brickyard 500, NCAA Finals, The Indianapolis Colts, Indianapolis Pacers not to mention the hospitals and univerities. Another good market for STR is Kansas City. KC get 35M vistitors a year that spend $1.4B in accomations.
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Tyler LingleBusiness Member
Real Estate Consultant · Indianapolis, IN · Member since 2021 · 440 posts · 292 votes
4y
Hi @Kathyayan goud Mula,
It's good to hear that you want to acquire property in Indianapolis. Indianapolis is the fastest appreciating market in the Midwest and the 15th most affordable metro area in the US. Indianapolis is a good market for cash flow because our property values are affordable, and our rents are going up.
I can provide insight on locations to invest in Indianapolis, neighborhoods to avoid, property management companies, contractors, and at-times off-market properties. I'll be very glad to help you.

[email protected]
Roots Realty Co. 562 Reviews
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Royce Anies
Member since 2022 · 3 posts · 3 votes
4y
Hi @Kathyayan goud Mula,

My partner and I are also from the Bay Area and looking at Indianapolis for our first OOS rental. We are looking more mid term rental then STR but we'd love to connect and share insights. Let's talk

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Mitch KlinePro Member
Member since 2022 · 6 posts · 0 votes
4y
Hi @Kathyayan goud Mula and @Royce Anies,
My wife is from the Indianapolis area and we currently live in Hawaii and are looking to purchase an STR back in Indianapolis area to utilize when we visit family. I would love to connect with either/both of you to bounce ideas off of each other or share research. My wife is very well versed in some of the different areas/neighborhoods considering she grew up there her whole life. My father in law is also an investor (LTRs) in the area so he has many connections as well.
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