New to REI & Indy - Looking to build a team, let's connect!
Hi everyone. A long time BP lurker, hopefully a soon-to-be first time RE investor. This is my first post in the Indianapolis sub-forum, so I'll introduce myself first. I live in NYC and would like to get into REI. I've looked through dozens of markets across the country to find something that would fit the bill and Indianapolis might be it! I like the quote that's often mentioned, "live where you want and invest where it makes sense". At first skeptical, I'm slowly warming up to the idea of out-of-state RE investing, especially given the sky-high prices in New York. I've looked at some SFH in the Hudson Valley area, near the commuter line in CT (Stamford, Bridgeport) and the prices are still too expensive for me to buy a house with a 20-25% downpayment as I'm looking to put down 25-35k on my first property. There would be zero cash-flow and, perhaps, only appreciation (TBD) here.
What turned me to Indy is a few things: (1) strong and diverse job scene, (2) new developments in the city, (3) low unemployment (at least pre-COVID), (4) possible appreciation down the line, (5) affordable to own RE.
My goal is to start with a SFH, build a team, create a system in place and then continue building my portfolio by investing the area. Would love to connect with local lenders, agents, PMs, contractors, and other investors.