Indianapolis. Recommendations for first investment? (SFR vs Dplx)
Hello,
My name is Joseph and I am a relatively new RE investor, I am enjoying reading BP forums and I intend to contribute also.
I started my journey as a RE investor in 2017 with 2 SFR in Houston and 2 SFR in KC in 2018. I am as passive as it gets, so I find places that are ready to rent or with little deferred maintenance. I rely on local PMs.
I am ready to add 2 more this year and my research indicates Indianapolis as a good market.
Doing local Indy research, I can see great opportunities for both SFR and Duplexes, which is for what I have funds this year (with leverage).
Any Indy expert that can shed some light about what would be a better start for Indy between the 2? I am happy with SFR so far but Multi-Fam intrigues me (remember my desire to stay passive).
Some additional context:
- I only invest in B and A- areas, the Duplexes I am looking at are in these locations to try to get more "permanent" renters
- My strategy is long term cashflow, though I don't want to land in places that will decrease dramatically in appreciation.
Thanks !!!
Alberto