More neighborhood advice for OOS newbie
Hi everyone, I'm Ori from Israel, new to REI, this is my first BP post :)
After analyzing most US metros I chose Indianapolis. I'm looking to buy rentals worth $110K ARV, with $900+ rent, focusing first on cash flow, wanting to start with a handful of stable B/C neighborhoods, make some deals, and then later expand.
I talked to some agents who suggested some up and coming neighborhoods: Bates Hendricks, Irvington, Little Flower, Garfield Park, even Haughville. But analyzing some of them (via trulia, neighborhoodscout) I saw high crime, poorly rated schools & low income. I also keep hearing that Indy varies a lot from block to block. Doesn't feel stable.
At this point I could use some advice from more experienced investors:
* Are some of the neighborhoods I mentioned too risky for beginners/OOS, either for management reasons (high crime / low income) or due to too big a difference from street to street?
* Are there more stable B/C neighborhoods that fit my criteria?
* What are the dis/advantages of ditching downtown and going outside the ring, for example to Hendricks County (besides having to start my analysis from scratch)?