I'm potentially looking to purchase a turn-key property a few miles East of Hwy 465 along Hwy 70. If you have any though on that area, I would really appreciated. This is the first time I'm considering purchasing one in Indianapolis, and my knowledge is limited.
I've been looking in a similar area but closer to greenfield than Indianapolis personally as I like the smaller town feel. I'm interested though to see what others think as well.
Hi @Soh Tanaka
What is the address? if you want to PM me the details of the property I'd be happy to look at it for you.
@Soh Tanaka welcome to Indy!
That area should be good but don't forget our city varies greatly street by street sometimes.
I'll be glad to chime in on the area if you want to share the address.
Of course, you PM will have a definite opinion for you as well.
Here's a recommendation. It is a 3.5 hour drive from Bartlett, Illinois to Indianapolis. A simple day trip will answer a great deal of your questions and anxieties. As an example, on a Saturday, you could leave at 8:00am, be in Indianapolis for lunch, see that specific area and importantly drive around the neighboring streets in the afternoon, and be back in Bartlett for early evening happy hour drinks with your friends on Saturday night. Quite simple & extremely valuable! If you are going to spend tens of thousands of dollars on an investment, that would be well worth the time invested.
Plenty of really nice homes in greenfield, I don't live too far from that area. Not sure what the rental market looks like in greenfield though.
@Matthew Schroeder - That is what I was discussing with my wife. Thanks!
I am invested in a several properties on the eastside and I grew up on the far eastside as well. I agree with Shawn, depends on where on eastside. Feel free to call me or message me and I will help where I can.
Welcome to Indy and surrounding areas. It is a great area to invest (most parts).
@Soh Tanaka Depending on your criteria, that is a pretty good area. Not knowing exactly where the property is, it's hard to say, but you'll find a mix of C and B class neighborhoods. We've sold a lot of turn key's in that area and they've performed well. If you want to PM me with the address I'll be happy to share my thoughts.
Thanks all. I'm planning to head over to Indianapolis today to see a few properties. I'll update once I come back.
I'll be interested to hear from those who have properties on the East Side the type of vacancy rates they've experienced in the past 3-4 years?
Tanaka-san, let us know how your trip went.
So I just came back from my short trip to Indianapolis yesterday. I ended up seeing 8 houses, some of them at the west side of the loop 465, middle of the loop, and finally the east side of the loop.
I know a lot of people buy houses without looking, but the more I do this kind of trips, the more I appreciate the importance of actually seeing the houses, even when I just drive by the target houses.
One thing I like to do is to get out of the car, knock on the neighbor's door and ask about the area. I got a very good feel of the area by doing that.
Now it's time for me to narrow down the list of the houses I saw. At that point, I'm sure I can use your help! Thanks in advance.
Great due diligence right there @Soh Tanaka good for you for taking the time to drive over.
Let us know where you end up buying and what you thought of your original property near Hwy 70.
@Soh Tanaka Tanaka-san, excellent work on the due diligence! You are absolutely doing it the correct way. Good luck and I wish you much success!