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Updated over 4 years ago on . Most recent reply

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Jeff Seitz
  • Rental Property Investor
  • Salt Lake City, UT
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First Time, Out-of-State Investor Considering Indy

Jeff Seitz
  • Rental Property Investor
  • Salt Lake City, UT
Posted

Hello everyone,

New to the forums, and getting acquainted with the layout, so if I'm in the wrong place please let me know and I'll show myself to the door!

I'm a brand new investor seeking to get started in 2-4 unit multifamily under $150k, looking to buy & hold for cash flow. Would consider SFR but would prefer the additional doors. Indianapolis caught my eye as the general market price of B neighborhoods appear to be in my price range, with both on and off-market opportunities available, as well as proximity to a major airport since I'm from out-of-state.

A few questions I have are:

  • - I realize there are certain barriers to out-of-state investing such as familiarity with the area, needing a solid property manager, etc. I'm more than willing to make the trip from Utah to see properties and meet PM's or even other investors in the area, but are there any significant additional barriers that you would advise me against?
  • - Does the market seem sustainable to you? Other cities on my radar included Birmingham, AL, St. Lois, MO and Cleveland, OH however the population decline in those cities as well as relatively stagnant income caused me to be wary.
  • - Do you have any specific research tools you like to use for demographics or deal searching? I know there's a local classified site here in Utah that receives way more traffic than any of the usual avenues (facebook marketplace, craigslist, etc.) for off-market
  • - How has your experience investing in Indianapolis been? Would you recommend to a newbie? Are there complex state/local laws that would be unfriendly to a novice investor? Are you planning an exit yourself to another market?

Any and all input is appreciated - thanks for taking the time to read and/or respond!

Most Popular Reply

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Lane Kawaoka
  • Rental Property Investor
  • Honolulu, HAWAII (HI)
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Lane Kawaoka
  • Rental Property Investor
  • Honolulu, HAWAII (HI)
Replied

Where you are at won't cashflow. I was up in Seattle and its the same thing. I would go out of state for cashflow.

  • Lane Kawaoka
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