Rental Property Investor · Bountiful, UT · Member since 2015 · 5 posts · 1 vote
I am new to bigger pockets. My family and I have been investing here in the Salt Lake City area for the last 6-8 years. I love investing here, but I wanted to look into areas that might provide a little better income off my investment. I have been looking at few different areas and I am very interesting in the state of Indiana. I was hoping to get some information on what other investors are finding successful in the Indy area and maybe some other area such as south bend, West Lafayette, and maybe the northeast part of the state like Chesterton, etc.
What areas are you guys seeing success in?
Do you recommend single family homes or 2-4 unit multi family properties? What kind of returns/cash flow are you seeing on these investments?
What areas should I avoid, etc.?
Any information will help. Thanks for your guys input.
Immediate cash flow (on paper) or rent growth and appreciation? In Indiana you'll slowly get your initial investment back, hopefully. San Francisco you'll have astonishing PROFIT over time.
Investor · Salt Lake City, UT · Member since 2013 · 84 posts · 38 votes
11y
So it should be the same in other growth markets as well. Salt Lake City is definitely a growing market. It's local. Maybe it makes sense to keep investing local. Or looks at somewhere like Texas, where They still have some lower priced properties but lots of growth too.
Rental Property Investor · Bountiful, UT · Member since 2015 · 5 posts · 1 vote
11y
Travis,
Yeah Salt Lake is a growing market and I still want to invest here. I was just interested in getting some more information on some other areas as well. Here in Salt lake like you know duplexs are 200-225k and 4 plexs are 350-400k. I just wanted to get some more information on some areas that I might be able to purchase some investments for half that price.
Yeah Salt Lake is a growing market and I still want to invest here. I was just interested in getting some more information on some other areas as well. Here in Salt lake like you know duplexs are 200-225k and 4 plexs are 350-400k. I just wanted to get some more information on some areas that I might be able to purchase some investments for half that price.
Jason
I totally agree. I'm also looking out of state. Trying to find growing markets that aren't overpriced yet.
It seems like the whole planet has Indianapolis in it's sights - and they are right to do so!
We still have affordable homes [under $70k that rent for $800+] and lots of jobs and even more renters.
With that said, I always suggest looking within an hour or two of your home. The are usually great opportunities in nearby small towns.
If that doesn't work, then let me know and I'll show you around Indy.
No rent growth over 8 years. No appreciation. The numbers make no sense. Cheap real estate because there is no profit? How does this make any economic sense to a buyer? I think I want to be a "turnkey" seller in this market.
Hi and welcome to BP! I was just in Indy for a look see, and their are some good opportunities for cash flow turnkey investing. I am also finding even better opportunities in NW Indiana, Chicago suburbs.
It seems like the whole planet has Indianapolis in it's sights - and they are right to do so!
We still have affordable homes [under $70k that rent for $800+] and lots of jobs and even more renters.
With that said, I always suggest looking within an hour or two of your home. The are usually great opportunities in nearby small towns.
If that doesn't work, then let me know and I'll show you around Indy.
No rent growth over 8 years. No appreciation. The numbers make no sense. Cheap real estate because there is no profit? How does this make any economic sense to a buyer? I think I want to be a "turnkey" seller in this market.
Ha! No one has ever made any money in Indy huh... (rolling eyes)
It seems like the whole planet has Indianapolis in it's sights - and they are right to do so!
We still have affordable homes [under $70k that rent for $800+] and lots of jobs and even more renters.
With that said, I always suggest looking within an hour or two of your home. The are usually great opportunities in nearby small towns.
If that doesn't work, then let me know and I'll show you around Indy.
No rent growth over 8 years. No appreciation. The numbers make no sense. Cheap real estate because there is no profit? How does this make any economic sense to a buyer? I think I want to be a "turnkey" seller in this market.
Ha! No one has ever made any money in Indy huh... (rolling eyes)
Ryan I NEVER said that! You must not be a numbers guy. In fact I said 50% of the deals are making some people lots of money! Hell that's almost half of them. Of course that half is sellers, not investors.
Residential Real Estate Broker · Indianapolis, IN · Member since 2010 · 1k+ posts · 557 votes
11y
@Account Closed I guess all of those Wall Street funds, Small Hedge Funds, tens of thousands of small buyers and all of those other poor investors that just keep buying year after year must just like our small town - if they aren't making any money! LOL
12%-15% or more ROI - "doesn't make financial sense"?
"No appreciation" - Yes, AND NO DEPRECIATION like the markets that have big appreciation.
Real Estate Broker · Indianapolis, IN · Member since 2009 · 575 posts · 496 votes
11y
Originally posted by @Account Closed:
Ryan I NEVER said that! You must not be a numbers guy. In fact I said 50% of the deals are making some people lots of money! Hell that's almost half of them. Of course that half is sellers, not investors.
I've seen plenty of investors make a lot of money. And the fact is there are areas of Indy that do experience appreciation. Not in an economic down turn of course.. But right now property values are increasing, especially in certain parts of town. I have a rental I have owned since 2003. Started out as a 650/month house... now its a ~950 house. Its no San Francisco but that particular area has been on fire.
Dont get me wrong there have been a LOT of out of state investors that have absolutely lost there ***... I buy there props at auction! I know. and I do in fact love the "anti midwest TK" movement on BP. Jay Hinrich is one of my favorite posters on here. Really.. I think its important to level the playing ground. Thats why BP is so great. It keeps the TK providers honest and on there toes.
I just disagree with the blanket statement that buying in Indy makes no economic sense.. or whatever you said.
My wife and I bought the house we live in in 2010 for 175k... our neighbor 2 doors down sold about 6 months ago in the 700k range. There is appreciation here. I've seen it.
Not to mention the fact that you can own a house cheaper than rent. = cash flow. There are so many people from the coasts calling me that want Indy I can't even keep up with them all. Not even close.
@Account Closed I guess all of those Wall Street funds, Small Hedge Funds, tens of thousands of small buyers and all of those other poor investors that just keep buying year after year must just like our small town - if they aren't making any money! LOL
12%-15% or more ROI - "doesn't make financial sense"?
"No appreciation" - Yes, AND NO DEPRECIATION like the markets that have big appreciation.
Just MHO.
Right... No huge swings. Our market as a whole doesnt experience large fluctuations in value. It makes for an easier environment to invest in. - some would argue.
Wholesaler · Indianapolis, IN · Member since 2015 · 5 posts · 0 votes
11y
Indianapolis and its suburbs are thriving and Ive seen an increase in property value and rent prices. I grew up here and I may be new to investing but I have always been interested in real estate and watched our market.
Greenwood, IN · Member since 2013 · 346 posts · 93 votes
11y
Indianapolis isn't Hawaii Bob(stating the obvious)
Even if a house does not appreciate for 20 yrs, and rents, only go up a few percent a year.
If a property is bought right and cash flows properly. Returns can be had of 15-20 percent on the cash invested. Plus equity paydown over time if using leverage. If there is appreciation or large growths in rents, then great.
But if you are buying in Indiana you aren't planning for that.
It seems like the whole planet has Indianapolis in it's sights - and they are right to do so!
We still have affordable homes [under $70k that rent for $800+] and lots of jobs and even more renters.
With that said, I always suggest looking within an hour or two of your home. The are usually great opportunities in nearby small towns.
Same to the north in Milwaukee. I get more people reaching out to me from across the country then I do in my backyard. I'm sure your seeing the same thing there.
Seems like the Midwest is the place to invest these days, rightfully so though with some of the deals that can be had.
Hi and welcome to BP! I was just in Indy for a look see, and their are some good opportunities for cash flow turnkey investing. I am also finding even better opportunities in NW Indiana, Chicago suburbs.
Hey Larry,
What areas in the NW Indiana are you seeing good opportunities? I have been interested in this are as well.
You guys keep getting suckered into Bob's trolling!
Rusty, you are the "yes my real name is Rusty" Rusty right? It's me little Rusty, your, I thought, Hoosier buddy. I just posted some information and made some comments and you feel name calling is appropriate? That hurts. Do you really think it's fair to call @Ryan Mullin and @ Shawn Holsapple suckers? You know your Ma taught you better.
@Account Closed I guess all of those Wall Street funds, Small Hedge Funds, tens of thousands of small buyers and all of those other poor investors that just keep buying year after year must just like our small town - if they aren't making any money! LOL
12%-15% or more ROI - "doesn't make financial sense"?
"No appreciation" - Yes, AND NO DEPRECIATION like the markets that have big appreciation.
Just MHO.
First, my markets don't have depreciation. I've never had a property be worth less than what I paid for it and usually it has been worth double the purchase price within about 2 years.
WOW!!! your amazing!!! You should put on a late night infomercial! DOUBLE YOUR MONEY IN 2 YEARS... LOL.