Investing in Indianapolis Market

Rental Property Investor · Crown Point, IN · Member since 2019 · 16 posts · 5 votes

Hello Everyone!

Looking to invest in SFHs in the Indianapolis market and build my team. I am located about 2 1/2 hrs. north of Indy and not familiar with the local neighborhoods and looking to build new contacts.

Any recommendations from local investors, realtors, or property managers willing to further discuss would be greatly appreciated!

Thank you!!

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Ryan Mullin

Real Estate Broker · Indianapolis, IN · Member since 2009 · 575 posts · 496 votes

All the areas I invest in are F's and D's on that map. :)

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Mike D'ArrigoPro Member
Turn key provider · San Jose, CA · Member since 2010 · 4k+ posts · 3k+ votes
7y
@Eric Clement we've been active in Indianapolis since 2010. I'd be happy to chat with you. Feel free to contact me.
0 Reply
Nick GiulioniPro Member
Rental Property Investor · Carmel, IN · Member since 2016 · 1k+ posts · 615 votes
7y
Check out @David Moudy and his team. Very well respected. Taken very good care of me.

1 Reply
Graziano Casale
Investor · Pasadena, CA · Member since 2019 · 42 posts · 16 votes
7y
Hello Eric, I'm doing the same thing! I'm glad to connect and share what we found so far
0 Reply
Jaron WallingPro Member
Rental Property Investor · Indianapolis, IN · Member since 2018 · 4k+ posts · 4k+ votes
7y
The Indianapolis market is dynamic and really hot/cold. Every neighborhood has potential but it's street by street. Plan on visiting a couple times to get a feel for the property you're looking at. I'm investing on the east side of downtown. If you have any questions about the area send me a message!
5 Reply
Chris Fuhs
Rental Property Investor · Indianapolis, IN · Member since 2019 · 9 posts · 4 votes
7y
I'm new to BP and the REI field as a whole and am looking to get involved in the Greenwood/Indianapolis areas. I'd prefer to focus initially on cash flow to supplement current income. I have some money to get things going, but I'm still trying to figure out the best way to go about it. Everything I've read so far seems to suggest MF rentals out-perform SFHs as far as cash flow goes, but I'm not really sure if this has just been biased articles or just area-specific ones. @Mike D'Arrigo, I'd appreciate your experience in the matter, primarily with PMs and building a solid team foundation. The team seems to be the most important factor in making all of this work. Still learning the process. Any pointers would be greatly appreciated!
Chris Fuhs
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Eric Clement
OP
Rental Property Investor · Crown Point, IN · Member since 2019 · 16 posts · 5 votes
7y
Anyone have a recommendation for ARV software covering the Indy area?
0 Reply
Art Perkitny
Specialist · Cleveland, OH · Member since 2018 · 232 posts · 348 votes
7y
@Eric Clement
This may help you in deciding on a specific location to invest into within Indy.
The map shows the risk score for areas within Indy on an A to F scale.
The score is calculated by looking at eight risk indicators.
The lower the score the riskier the area is to investors.
1 Reply
Eric Clement
OP
Rental Property Investor · Crown Point, IN · Member since 2019 · 16 posts · 5 votes
7y
@Art Perkitny
That is impressive! Thank you. Is crime factored into the analysis as well?
0 Reply
Art Perkitny
Specialist · Cleveland, OH · Member since 2018 · 232 posts · 348 votes
7y
Thanks @Eric Clement
At this time crime is not a factor. Reason being is that crime data is not available for all cities within the USA. In addition, the reporting standards vary wildly between agencies.
I the future I plan on possibly creating a new scoring system that does factor crime, but only for large cities that have the data-sets available.
1 Reply
Eric Clement
OP
Rental Property Investor · Crown Point, IN · Member since 2019 · 16 posts · 5 votes
7y
Makes sense!
0 Reply
Nicole Hoss
Johnston, IA · Member since 2016 · 129 posts · 50 votes
7y
Interesting map. It's showing the extremely popular Fountain Square area as a D and increasingly popular Bates Hendricks area as an F. However, using the data points, I suppose that could be accurate. I guess it goes back to Indy still being very much "street by street". But still interesting, none-the-less.
2 Reply
Ritch Bonisa
Specialist · Indianapolis, IN · Member since 2016 · 841 posts · 480 votes
7y
Yeah, I buy alot of properties in these areas. I also live in Indy. I'm in and out of these areas all the time. This is not accurate. Indianapolis is street by street in many respects, but still this info is off. Ok, if we're pulling stats from some public record, then fine, but this is just not a reflection of these areas.
There are also some rejuvenated small areas in Indy that have income restrictions. Now, imagine how this sways comps 2 streets over. Reality is those comps should not be included.
Another thing - I haven't bought in Bates Hendricks for over a year. Not because it's a D or F area (far from it). It's because there are so many active homes listed that have just been rehabbed. It's saturated right now.
There's alot more to some of this stuff than meets the eye, or the map, etc.
I've recently seen a few maps that were way way way off. There is some fluidity to this stuff. 2018 stats don't necessarily reflect what is going on today. Or, I saw one last week from a so-called expert from 2017. Great map, nice work, but fact is we're 8 months into 2019. How many homes have sold since end of 2017, or 2018?
5 Reply
Tia L.
Member since 2019 · 29 posts · 13 votes
7y
out of town investors......ppppppppppppppp..lllllzzzzzzzz
2 Reply
Ryan Mullin
Real Estate Broker · Indianapolis, IN · Member since 2009 · 575 posts · 496 votes
7y
All the areas I invest in are F's and D's on that map. :)
6 Reply
Mike D'ArrigoPro Member
Turn key provider · San Jose, CA · Member since 2010 · 4k+ posts · 3k+ votes
7y
@Chris Fuhs I've been active in Indianapolis for nearly 10 years and can count on one hand how many MF's we've done there. With a few exceptions, most of the MF in Indy are in old, rough areas. Personally, I would recommend sticking to single family unless you know the neighborhoods very well.
2 Reply
Chris Fuhs
Rental Property Investor · Indianapolis, IN · Member since 2019 · 9 posts · 4 votes
7y
@Mike D'Arrigo thanks for the insight on the Indy MFs. I've been looking at Christian Park, Irvington, and Emerson Heights areas for SFRs. They seem to be decent areas for rentals from what I can tell so far. Are there any tricks about these areas I could learn from someone that knows them better?
0 Reply
Daniel Root
Real Estate Agent · Greenwood, IN · Member since 2019 · 16 posts · 7 votes
7y
@Ritch Bonisa I agree that map is definitely not accurate.
1 Reply
Mike D'ArrigoPro Member
Turn key provider · San Jose, CA · Member since 2010 · 4k+ posts · 3k+ votes
7y
Wow, not sure where that map comes from but I agree with others that it is not accurate. A good percentage of those orange and red areas are actually good rental areas. If you pay attention to this map, you wouldn't invest in Indianapolis.
0 Reply
Zach Hoereth
Rental Property Investor · Indianapolis, IN · Member since 2017 · 96 posts · 140 votes
7y
@Eric Clement I won't beat a dead horse here and harp on what everyone else has about the map haha. I will say that @Sterling White has a nice map that helps folks understand the Indy area a bit more. Check it out :)
0 Reply
Account Closed
Rental Property Investor · Sacramento, CA · Member since 2015 · 1k+ posts · 893 votes
7y
@Eric Clement forget it. You're in crown point- some of my favorite places to invest in the country are right under your nose. Don't venture too far away ;)
0 Reply
Marcin Nurek
Rental Property Investor · Crown Point, IN · Member since 2016 · 44 posts · 10 votes
7y
@Eric Clement why would you invest out of town, 2.5hrs away, where Crown Point is the jewel of Lake County? As long as you stay in CP school system, there are no bad areas if the price is right
0 Reply
Eric Clement
OP
Rental Property Investor · Crown Point, IN · Member since 2019 · 16 posts · 5 votes
7y
@Marcin Nurek There doesn't seem to be any inventory. I am currently working with a coach that specializes in virtual investing and already made some good contacts. I'll PM you!
0 Reply
Jason Tressler
Real Estate Agent · Indianapolis, IN · Member since 2019 · 72 posts · 16 votes
7y
A map can not tell you what a good local agent can... wink wink. I live here and invest here, Indy is block by block. But the smart investor will work with the local seasoned agent to help you make the best move$!
0 Reply
Angela Smith
Member since 2018 · 161 posts · 152 votes
7y
because you mentioned it...Concerning Christian Park. There is a seedy bar there called Bar 52 (I think), that brings in a rough crowd. The people in the houses in the block near the bar report noise, nuisance. they say the bar patrons often leave drunk, bumping into cars on the street and littering the place up. There was also a murder there a couple weeks ago that started with a bar fight. I know this information because I own a property there and I am monitor the neighborhood facebook page. That said, if you go north of the park, there are some great properties. Also, there is a strong neighborhood association that is working hard to improve the area. They have successfully won grants to clean up the area along Pleasant Run Parkway and the walking trail there. Just stay away from the bar area and you can do well there.
1 Reply
Christopher Petrillo
Member since 2018 · 264 posts · 61 votes
7y
Hi Eric! I am a wholesaler if you are in need of cheap properties. I also work with Rebecca Russo-Wezenky who is a realtor in the Indianapolis area. She is on bigger pockets if you want to look her up.

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