Indianapolis Investing

38 Replies

Hello all,

I am Sterling White a local investor in the Indianapolis area seeking other investors to network/ bounce ideas off of. I currently have several investments prospects, but would like others suggestions. I find this site very welcoming and informative!

Thanks you all

welcome sterling! Striking resemblance to napolean hill

LOL, 

Awesome Napolean Hill picture!  I'm actively investing in Indianapolis and live in California.  Roots in Ohio but loving Indy.  I have a very strong team there.  I'm buying holding and flipping.   I would love to connect with other investors to join forces, talk about synergies and go from there!

Jim

@Sterling White Welcome to the site! What areas of Indy are you looking at? Also, what kind of investing are you doing? I am a wholesaler in Indy and also have a rental property, and I'm always looking to connect with other local investors.

I am currently specializing in the downtown Indy area up to Broad Ripple. I am currently using the buy and hold method to build financial wealth. My criteria involves SFH's at this point.

Would really like to take you guys up on a cup of coffee to discuss investments ideas and different ways we can create more value to Indianapolis.

Thanks 

I have done some flips in Broad Ripple but prefer to buy and hold in Hamilton County.  I have represented other buy and hold investors in Broad Ripple, so please let me know what advice I can provide.  8 years of experience and knowledge in that area, so happy to help in any way.

Welcome!

This post has been removed.

Welcome @Sterling White !

- it's always good to see another Hoosier utilizing this great site!

Of course, you need to read The Ultimate Beginners Guide to REI here on BP

If you haven’t already, please read/listen to these books ASAP!

Rich Dad Poor Dad

Rich Dads Cash Flow Quadrant

Rich Dads Increase your financial IQ

The Real Book of Real Estate

The ABC’s of RE Investing

The ABC’s of PM

Rich Dad RE Tax Advantages

The E-Myth

The 4 Hour Work Week

BiggerPocketsPodCast


Welcome to BP @ Sterling White

Where in Indianapolis do you guys invest, @James Grueser  @Rodney Kuhl  @Ben G.  ? My wife and I live in NJ but we have rentals in Indy and would like to network with local investors (at least virtually). 

Hi Marvin,  we are all over the greater Indianapolis area.  We started there just over a year ago and have 4 buy/hold properties with 4 flips going right now.  We have 3 holds near downtown and one that is more in Southern Indy.  Just sold first of 4 flips today as a matter of fact so we're pretty happy.  I will be going out there end of September to look at buying some other projects.  However, last winter was brutal so still working on exactly how we're going to play it.  Would love to connect and network.  I live in California so not local.  I flew there and built and amazing team so I'm able to do much of this remotely.

My favorite Indianapolis neighborhoods:

Fountain Square

Bates Hendricks

Mapleton Fall Creek

Emerson Heights

Windsor Park

Little Flower

Saint Clair Place 

317-965-8708

@James Grueser  It is amazed to learn that you were doing so many flips remotely. I hope they all went very well. I've been thinking about investing in Indianapolis from out-of-state as well, but more of buy and hold strategy. Can you recommend a few of your team members at Indy, like contractors and PMs?

Like @Sterling White , I am also looking at investing in the Indy market. Currently live in Hawaii and the ROI here is just too low. I am looking for multifamily homes (duplexes), 2/1 units per side, in the 40-50K range. Also, looking for the rent to go for anywhere between $500+.

Is this a viable option in the area? Based on my research, it seems there are plenty homes in this range.
And how are the areas?
What are the best areas to have a rental? @Ryan Mullin  could you elaborate on the top 3 ones you listed above?
What areas should I avoid?
How is rental turnover?
How bad is the winter months there?
And how feasible are flips?  What are typical fix-up expenses? @James Grueser  

I will be flying to the area in a few weeks (March 23-27) to look at properties. Please let me know more information and reliable lenders, contractors, and property managers in the area whom I can contact. Thank you.

@Travis Washington  Hey Travis!  I was excited to read your post about coming to Indy in a few weeks to check out our market.  I would love to connect with you while you are here if possible.  I work for FS Houses as a licensed agent.  We specialize in investment properties and finding solid deals in appreciating areas.  @Ryan Mullin  is one of my bosses and owns our company.  We also offer property management.  Indy has really solid areas, but you have to be careful to know the difference between what's profitable and what's declining or stagnant.  It is really hard to tell if you are not pretty familiar with our city.   But that's where we come in!  Anyway.  I'd love to give you more info about what we do at FS Houses.  PM if you get a chance and maybe we can set something up.   To answer a few of your questions... the winters are hit or miss.  Last winter was brutal.  Tons of snow and then a long frozen period, but this winter has been pretty mild.  We have had some drops in temperatures which always allows for possible pipes to be frozen, but nothing too extreme.  Usually the dead of winter lasts from Mid December-Early March so not very long and projects keep movin' throughout.  

As far as neighborhoods go there are different schools of thought on what is profitable and "smart or savvy" investment strategies in Indy.  We like finding a lot of our deals in neighborhoods that are closest in proximity to downtown Indy.  There is so much growth and revitalization in several areas near downtown and the city itself has so much to offer as it grows that the excitement and energy surrounding these areas is pretty undeniable.  A lot of young business people and college students are looking for housing near where the growth is happening.  They like to live near their jobs and the night life, restaurants and shopping.  As our city grows we are also gaining the interest of big business companies that continue to bring new jobs and development to the city.  These people will need housing as well.  We just see it as there being a demand for housing in these areas and like to pick places that are appreciating  in value as well.  

In regards to duplex purchases, there are definitely deals to be had, but they are fewer and further between.  And different variables to deal with as far as vacancy issues and what not with doubles, but risks are risks and will be there no matter what type of property you buy.  The trick is to find a team of people you can trust to make informed decisions about where to purchase, and then to protect that investment as best as they can by getting quality tenants.  The trick I think with flips if you are trying to get established is to get a few properties that are pretty affordable in an appreciating area, sit on them for a few years until the time is right and you have some equity and then start one project at a time so you don't get in over your head.  Indy is the perfect place to carry out this strategy right now.  

I think I have given you enough info to digest for now, if you have any other questions feel free to ask.  

Happy hunting!

I have an Indy area SFH question. I'm interested in getting feedback. What are the going cap rates for B and C SFHs? Put another way, what be the cap rate ranges that you would look for in B and C props?? Appreciate feedback!!!!!!!!

Hello,

@Jennifer Roberts and @Ryan Mullin I read your responses to previous posts in this thread. Very helpful info!

I currently live in Tampa and am moving to Indy this July. I'm very new to the world of real estate investing. I see that there was a lot of excitement about Fountain Square and some downtown areas about a year ago. Are there still hot markets for investment opportunity? I'm interested in buy and hold, turnkey, and partnering. My husband and I both have full-time jobs, so I want to enter the market without an extreme amount of do-it-yourself work! Anyways, I would like to further chat about investment strategies and promising Indy neighborhoods if you have time. When I relocate, I'd love to meet up!

Thanks,

Sarah

Hey @Sarah Donatelli !

We can definitely meet up when you get in town...   Yes, Fountain Square is off the hook right now.  There are still opportunities but they are few and far between.  In general there is a TON of opportunity but it is officially a sellers market and you really have to fight to get deals...   

But, yeah lets meet up and discuss goals and how we can help one another!  

-Ryan

  

317-965-8708

@Ryan Mullin

Ah, I was afraid of that. Perhaps I'll look into some properties around Tampa.

Alright, well I'll definitely reach out once I get into town. Thanks for your help; I'm looking forward to meeting you! 

Sarah

@Sarah Donatelli There are a lot of Indy opportunities, areas that haven't caught fire like Fountain Square, but are still showing appreciation promise.  Then there are areas that are just nice cash flow areas.  I suggest you arrange to meet with several providers when you are Indy and get a fuller idea of what is available.  That is just what I did when I was there last month.  Let me know if I can help.

Larry Fried, Real Estate Agent in OR (#201211636)

@Larry Fried , thank you for the advice. If you could send along some provider recommendations, I'd appreciate it! I see that you're from Oregon, so once I'm relocated to Indy (July 2016), I'd be happy to keep in touch and keep you posted on the local beat.

Thanks!

@James Grueser  whereabouts in Ohio do you have roots? I was born in Columbus and still have family there. Right now I live in the San Francisco Bay Area and am looking to get started investing in Indianapolis,

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