Multi-family Investor · Indianapolis, IN · Member since 2013 · 96 posts · 12 votes
Hi! My name is Lindsay, and I'm under contract to buy my first home in Indianapolis' Fountain Square neighborhood. It's a triplex and should have pretty awesome cash flow, so I'm really excited!
Someday I'd like to buy more properties in areas like Fountain Square that try hard to be walkable/bikeable/wheelchairable and update them to be truly handicapped-accessible, and then sell them to people with lease options who may not otherwise have been able to own their homes. I think starting by building equity in this little triplex is a great way to begin, but I have so much to learn!
Can't wait to meet more people on here. Add me especially if you're in the area of have done similar things to what I'm doing now or dreaming of doing long-term! Thanks!
Real Estate Broker · Canton, GA · Member since 2010 · 15k+ posts · 11k+ votes
13y
Hi Lindsay,
My focus is commercial real estate but regardless I would like to say hi and that your plan sounds interesting. The tri-plex should be a good property to learn as a stepping stone to other investments.
Specialist · Rockland, MA · Member since 2010 · 7k+ posts · 2k+ votes
13y
Lindsay,
Congrats on your progress.
I applaud your mission.
Consider checking some of the local social agencies, there may be some housing stipend monies available. You might be able to rent per bedroom instead of per unit. This can give you 2-4 times more rental income.
When you think about what legal entity you set up you may want to consider a non-profit one giving you access to additional monies.
Multi-family Investor · Indianapolis, IN · Member since 2013 · 96 posts · 12 votes
13y
Thanks Paul! I'm familiar with some of the housing agencies in the area, and I work for the local Area Agency on Aging, so I'll definitely try to collaborate in as many ways as I can!
Investor · Wichita Falls, TX · Member since 2010 · 3k+ posts · 603 votes
13y
Welcome to BiggerPockets Lindsay Wilcox!
I really like your motivation behind your goals. That's awesome!
I like Indy, I own a duplex in the area. I may try and buy another property there later on in the year. It's definitely a great market to get started in!