Looking to Invest in Indy

15 Replies

Hi all, I am from California and  looking to invest in Indianapolis, IN. I would like to meet agents, property managers, as well as investment asset management specialist. If you are someone that works with investors, I would like to get in contact with you to see the numbers look good. Also, I would like to know what are others thought about investing in that area.

bildwise coordinates and manages rehab projects for investors from the US and abroad in Indianapolis.  We handle everything from project scope, estimates thru project completion.  Our back office platform keeps you fully informed of project progress, concerns or issues and complete documentation.

Dan Poske

bildwise.com

@Israel R. -- Welcome to BiggerPockets!

You've picked a great market to consider investing in. We move a lot of property in Indianapolis for many reasons not limited to the economy, affordability, investment returns, etc.

You bring up a great point about meeting the team.  I'm glad to hear you want to go out there to do that. Interestingly, and statistically, only 1 out of 20 (5%) of our clients/investors actually drive or fly out to any one of our 12 markets.  We encourage them to do so, and love when they do, but life doesn't always provide the time or opportunity to do so.

Are you familiar with Indy? What type of property or neighborhood are you looking for?

Continued success!

Originally posted by @Israel R. :

  I would like to get in contact with you to see the numbers look good. Also, I would like to know what are others thought about investing in that area.

Be careful with the numbers. Some of the Turnkey providers that are on BP use numbers like cap rates for SFR that they don't even know how to calculate or what the cap rate actually represents but want you to think that will be your annual "return" every year that you hold the property. If someone is giving you a "cap" rate number you can pretty much assume they don't know what they are talking about and hope you don't either.

Cap rate = Crap provider.

http://www.msn.com/en-us/money/markets/california-surpasses-france-as-worlds-6th-largest-economy/ar-AAhg7QA?li=BBnbfcN&ocid=mailsignout

If you can't make it here you can't make it anywhere.

@Yoochul C. -- It's crossed my mind, but with nearly 400 MSAs in the United States, and many more sub-markets, there is really no need to look elsewhere.

Plus we are one of the few countries in the world with 30-year fixed-rate mortgages!

To quote @Bob Bowling above, "If you can't make it here you can't make it anywhere."

Continued success!

Bob makes a good point... There is much more to income property than cap rates. It's certainly not the best metric to use to evaluate property. Consider the cash-on-cash return, the overall (total) ROI, and net operating income (NOI). Some will even look at internal rates of return (IRR).

Originally posted by @Marco Santarelli :

Bob makes a good point... There is much more to income property than cap rates. It's certainly not the best metric to use to evaluate property. Consider the cash-on-cash return, the overall (total) ROI, and net operating income (NOI). Some will even look at internal rates of return (IRR).

Aren't you one of the providers that entice investors with NOT one but two fake cap rates?  Why?


@Bob Bowling -- Nope, we don't even discuss cap rates with clients.  It's not a good metric to use with residential properties.  It's better to look at cash-on-cash returns factoring in all expenses including vacancy and repairs.

Originally posted by @Marco Santarelli :

@Bob Bowling -- Nope, we don't even discuss cap rates with clients.  It's not a good metric to use with residential properties.  It's better to look at cash-on-cash returns factoring in all expenses including vacancy and repairs.

My mistake.  I thought you were affiliated with that sketchy Norada site.  Here's a current crap rate offering of theirs.

http://www.noradarealestate.com/Real-Estate-Invest...

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