Introduction: Out of state investor from CA

14 Replies

Hello everyone,

My name is Thanh and I am a real estate investor from CA. I've been doing research to determine the best place for me to start buying rentals to hold long term for cash flow and I've decided to invest in Indianapolis, IN. I hope to network with other BP team members in the area or RE investors that are currently investing in Indianapolis. I want to build a team, starting with a real estate agent. Please let me know if you have any recommendations and thank you for all your assistance. 

@Thanh Nguyen I bought several of these turnkeys and have one in Indy. I was going to buy more but got Fannie Mae maxed.

I can some PMs that I use and others that have given to me. Don’t know if I can refer here though.

I would just caution to stay with rents over 900 and don’t get tempted by the lower price homes that you can’t sell if the market softens.

Also make sure you get an appraisal and inspection. Use folks that other investors have used.

I agree with Lane! I spent time searching out a good real estate agent that understands investor needs before I bought in Indy. I think that is the key. Finding a great agent who can also connect you with other resources. Stick to the properties that are going to generate good quality tenants as well as a good return. This is where the agent can be worth every penny!

@Thanh Nguyen

I'm down the road from you in Concord. I'm flying out to Indy in a few weeks and have built out a spreadsheet full of contacts, with priority on those with multiple referrals from BP and elsewhere. Happy to share everything I have with you. 

Lane is the second person who specifically comments to stay away from rents under $900. The other called it the $1000 rule. Interesting. 

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@Thanh Nguyen I'm curious how things have been progressing for you in Indy. Any luck putting together your Core 4? 

@Ernesto Hernandez mind shooting that spreadsheet my way as well? I'll be in Indy next week myself. 

I'm a fellow CA investor with a handful of duplexes in Indy. I'm getting $900-$1,000 per side in some better neighborhoods. But deal flow has been challenging. 

Good luck to you both! 

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@Thanh Nguyen As others have already cautioned you, my strongest advice is to stay away from the cheap, low priced inner city properties. I've seen far too many people get lured in by the promise of high returns in these neighborhoods and get burned. Indianapolis is a great market but it can vary neighborhood to neighborhood and even street to street. Stay in the better neighborhoods with higher rents and you can do very well with good property management. 

@Ernesto Hernandez   also a Cali investor with 1 duplex but looking to add doors ASAP.   Looking for good contacts in the area.

Glad this thread popped back up. Indy's on my radar too - the whole state is, in fact - so knowing where to go & not to go helps out.

I agree with @Mike D'Arrigo , although there are some gems out there for lower prices. 

@Ethan Anderson , curious as to whereabouts your higher end duplexes are? Most I've come across are in C areas that need lots of work and max out at $700/side.

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