I recently moved to Indy and want to research where the city is at and where it is going. The former is rather easy -- I've been driving around town.
How do you research what the city is planning in regards to where the city is putting their money for development?
I found this, but I am not sure how to interpret many of the terms they use:
Do you factor in the city's development plans into the location you're investing in? If so, where do you find that info?
@Brandon Payne courtesy of Cameron Harris, here is some great high-level info.
2018 State of Downtown Indy: https://patch.com/indiana/indianapolis/2018-state-downtown-downtown-indy-inc-shares-growth
Redevelopment of PanAm Plaza: https://amp.indystar.com/amp/1646337002
Old Airport Site Redevelopment: https://www.ibj.com/articles/70966-airport-board-approves-214m-land-sale-for-infosys-campus
Twin Aire Development Plan: https://lisc.app.box.com/s/0389cx7xicqpnpay1ov4fdabxboiutul
Indy Go Red Line Rapid Transit: https://www.indygored.com
I have a bunch of notes on economics and affordability, community development, and business growth as well if you're interested.
Actually I am also moving there as well (on Sunday!)
@Amil D. Welcome to the city and thank you for sharing those links! I was unaware of the concert venue plans for White River State Park. That's pretty exciting!
@Jaron Walling Thanks Jaron - what kind of Neighborhoods do you invest in? Would be great to hear the opinion of an experienced local.
@Amil D. I invest in C-B class properties. I checked out your website. Looks nice man! Once you get established here I bet you reconsider those buying numbers. For a good B class property, minimal repairs, you're really low. At that price I would expect $15-20K in repairs. I'm saying that from my limited experience but that's what I find. Installing a new roof is $6K... minimum.
@Jaron Walling really? Hmmm....Thanks for letting me know!
Right now I'm at the point where I don't really know the market very well so I want to pick some B areas and C areas and learn their price point, tenant profile, etc....
Are there any good investor neighborhoods that you would recommend I start with? Maybe 1-2 B class areas and 1-2 C class areas?
Absolutely man. I'm always willing to give advice. Some good neighborhoods I'm looking at are Garfield Park, Bates-Hendricks, University Heights, Windsor Park, Little Flower, String Town, and Speedway. Most of these are attractive because of price and location (B/C Class). I won't look at anything that rents for <$700 per month.
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing