Researching Indiana STR potential

[Troy T.]

Hi all,

I'm a somewhat new real estate investor, based out of central Indiana (Hamilton County). I'm looking to potentially acquire an STR, and doing lots of research upfront prior to making the leap.

Anyone based in Indiana and own / investing in STRs? Would love to connect and obtain some insights! I know Indiana isn't necessarily an STR hotspot…but think there may be some potential still, especially in my immediate suburban area which has seen tremendous economic growth. I'd prefer to stay local with the property and manage it myself to start, so not really looking at typical vacation destinations.

Would love to connect on your experience, insights, thoughts, concerns/risks, etc.

Thanks!

[Gloria N Gear]

Indianapolis is good for STR, you just have to think outside of the box. Medical - tons of contract nurses coming to the area. Sports - think little league traveling teams (Grand Park Sports Complex Westfield) as well as college and professional (hosting the Big Ten and NCAA tournaments last spring is going to bring many of more of those types) - I have heard of some paying off their mortgages for the year just from income in May for the Speedway. Conventions - they are coming back to Indy