BRRRR in Indianapolis

10 Replies

What is a realistic COC return and total return I can shoot for on an average BRRRR deal in Indianapolis?

Ps I'm doing my first BRRRR deal ever

what kind of area in indy ? there are great deals everywhere around here but i go down to the industrial job towns south of indy they are hot hot rental markets, indy is so huge and there is a fine line between high crime areas blending with high end houses its a mixed bag.

Originally posted by @Aaron Starr :
what kind of area in indy ? there are great deals everywhere around here but i go down to the industrial job towns south of indy they are hot hot rental markets, indy is so huge and there is a fine line between high crime areas blending with high end houses its a mixed bag.

I focus on b and c markets. I was looking at River Park area because of the 16tech developments, but I don't think that's the right area for me because you will have to wait 3-5 years to pull your money out.

My PM was telling me to look at suburban areas a little outside of indy for duplexes. 

What areas are you looking at that's south of indy (im just curious)

 

They're probably referring to Greenwood, Whiteland, and Franklin, IN. Those are all good areas with cheaper prices and good schools. It's not far from Indy so lots of long distance commuters. 

@Jason Ma

I’m in Columbus Indiana which is one of the biggest job markets with Cummins diesel being a big contributor to housing needs . I don’t like b and c class neighborhoods because let’s be honest in recession contractions nobody is renting 1200-1500$ houses they’ll be coming down to 600-750$ houses and my mobile home parks, seen it happen in 08.

There are many pockets in Indianapolis which have great returns as a renovate to rental. What I'm seeing a lot of is similar to a investment I just rented out. *Speedway/Eagledale area 3 Bed 1.5 bath*

Purchase: $79k

Reno: $3000

Rent: $950 (easily could have gotten $1000) I had a signed lease in one day of marketing property. 

There are many pockets in Indianapolis which have great returns as a renovate to rental. What I'm seeing a lot of is similar to a investment I just rented out. *Speedway/Eagledale area 3 Bed 1.5 bath*

Purchase: $79k

Reno: $3000

Rent: $950 (easily could have gotten $1000) I had a signed lease in one day of marketing property. 

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