Indianapolis Buy and Hold Advice

6 Replies

I'm currently looking at investing in Indianapolis in small multi-family units and wanted to see where the best areas, appreciation-wise/renter-wise are located.  Any Indy investors out there?

@Bill Manassero I prefer the south and west in general personally. I've had very good performance from duplexes, but you need to be selective with your location choices in Indy for SFH OR MF. MFs get a bad rap quite often, but I've grown to favor them over SFH as I've worked them. Make sure your PM is good with the area you are choosing. If they can operate effectively in that area and you do your due diligence, that will help performance of the investment. If you are focused on appreciation, you will significantly degrade the ROI% in the short term for sure. I shoot to maximize the current cash flow/ROI and am less concerned with appreciation. To get the appreciation, your choices for areas will migrate further out from the center of town or limit your areas to the "popular" areas that prices are much higher. Most will recommend spending more to get the less risky areas, but I personally try to find the "C+ to B-" areas on the edge of nicer / popular areas. Definitely avoid D areas all together if you are not managing the unit yourself (intown) or have a tough PM that can handle that effectively. You will receive input that the townships are safer/less risky which is true, but also are getting expensive. I don't mind Center Township myself, but I'm on the streets daily and am able to deal with all that come with some of the marginal areas. I can't over stress how much your PM can make/break the performance. Feel free to PM to discuss in more detail.

@Bill Manassero  @George Helms  George has laid it out for you very plain and clear . (He also sometimes puts some properties in the marketplace). Indy is a great market but you also must come here and see the areas for yourself after your  preliminary due diligence. There are multiple investors in this market and most will be glad to assist you with additional questions. It is an "investor friendly" town.  

@Bill Manassero  a mentor is a great idea as you are staring in the Real Estate Business. I don't know where I would be without mine. I love helping new investors get started, so if you are interested in discussing more, PM me. 

Thank you all!  

Fantastic information and Jason I will take you up on your offer.  I can use all the help I can get.

What does everyone think of the Fountain Square area?  I hear it is up and coming.

I'm more interested in cash flow right now but hope to see appreciation in the next 5-10 years.

I am doing two projects in Fountain Square right now and was just there this morning visiting them. It is a very popular area right now and can bring good cash flow, but you have to buy it right, and sometimes it is hard to find a house that fits that criteria in that location. There are a wide range of incomes, rents, and homes prices in the Fountain Square area, so you have to be on top of the neighborhood. 

@Bill Manassero  are you wanting to buy something Turnkey, or are you looking to save and have even more equity by purchasing through a wholesaler? There are advantages and disadvantages to both.  

Create Lasting Wealth Through Real Estate

Join the millions of people achieving financial freedom through the power of real estate investing

Start here