I'm an investor and would love to connect with PMs in Indianapolis to learn more about the different neighborhoods. Particular interest in inner city areas with good appreciation trajectory ahead.
Absolutely is the best way to invest in my opinion and what I personally do. However, these are not the 30-50k per door places. These are more of the 100k a door place that rents for $1350 or so. Usually older stock homes that need a lot of work. Let me know if I can help answer any questions.
Indy is a great market.
@Adrian Chu the inner city in Indianapolis is tricky. There are a lot of rough, seedy areas and then there are some pockets that are undergoing gentrification and are on the rise. As @Josh C. mentioned, these are not the $30-$50K properties, If you want to buy in these areas, do so with caution and make sure you know the neighborhoods well. Indy can vary block to block and people will often tell you one are is up and coming because it happens to be a few blocks from an area that truly is up and coming.
@Adrian Chu Are you looking for something distressed to fix up and rent - possible BRRRR or something in rent ready condition?
Nobody I've met with knows Indy like @Ross Denman .
That man knows Indy inside and out and he is a PM.
@Ernesto Hernandez thanks for the kind words. Yes, I work for a national property management franchise and our office covers Indianapolis and the surrounding areas. Be forewarned, we are not the cheapest guys in town and are selective about he properties that we take under management, but I'd be happy to talk to anyone about investing in Indianapolis even if you're not looking for property management. I'm pretty familiar with most of the market in Indy and have a good network of real estate professionals that I can confer with when I don't have a confident answer. Teamwork is everything, especially when working out of state. Just shoot me an email or PM. I'm not always active on BP, but I regularly keep up with email.
My wife and I live, work, invest and play in downtown Indy. We love it here. I'd be happy to chat about specific areas that we buy and manage in.
Also, everyone who has replied on this thread would be excellent to talk with and do business with. :)
Happy investing, and come visit Indy when you get the chance. You won't regret it.
Im hoping to get some insight if downtown Indianapolis just right outside the Holy Cross and Arsenal Heights is a good area to do a fix and flip. I’m looking at an old house that needs a complete renovation, purchase price 40k.
@David Martin Jr what kind of flip/ Retail or rental?
@Mike D'Arrigo it would be to fix it up and then sell the house. Not a rental or buy and hold.
Yes, I think I know the house. If its the one I am thinking of its a good deal but needs at least 100k to get top dollar. Probably more like 130k. Unfortunately we do not have the capability of taking on a project that size at this time.
@David Martin Jr Just make sure you have your rehab costs drilled down and you get a realistic look at comps.
thanks for fhe reply @Ritch Bonisa
I’m not sure if that was aimed at me but if so thanks @Ryan Mullin
Good looking out @Jeb Brilliant