South Bend, IN Looking to network

30 Replies

I am looking to get together with other investors in the South Bend, Indiana area. (South Bend, Mishawaka, Elkhart, Goshen) I am a new investor and would love to network and share ideas with other local investors. 

If there are already meet ups in this area please let me know, I'd love to join.

Thanks!

Kyle Perry

Hello Kyle, I’m from the area and been investing in the the past five years. I’ve recently passed my Indiana brokers exam and would like to network as well.

@Kyle Perry Check out the South Bend REIA. (REIA-NCI). We have a meeting coming up this Thursday at St. Paul’s off Ironwood at 6:30.

Thank you @Aaron Linden . However I'm somewhat new here and can't seem to find that group? Is there a group forum on here for them? Any help haha

Thanks

@Aaron Linden   @Kyle Perry

It seems that South Bend is somewhat of a hidden gem.. I have talked to many folks in Indianapolis and it seems that while there are lot of deals to be had there, other parts of Indiana can provide some good value to investors..

Are there small multi family unites in South Bend area that are in good area.. Don't want the hood. I was told by someone who has had 30+ yrs of experience in Indianapolis, that almost all the MF properties in Indianapolis are in C neighborhood. 

@Chinmay J. I definitely agree that South Bend is a hidden gem. However, in terms of multi family deals there is not a ton of inventory. I think there are only 9 multi family properties on the market currently in South Bend. I think that for MF you need to consider the entire Michiana area such as Niles, Mishawaka, South Bend. Also, I would recommend searching in areas like Ft. Wayne for MF. @Aaron Linden what are your thoughts?

Originally posted by @Stephen Sokolow :

@Chinmay J. I definitely agree that South Bend is a hidden gem. However, in terms of multi family deals there is not a ton of inventory. I think there are only 9 multi family properties on the market currently in South Bend. I think that for MF you need to consider the entire Michiana area such as Niles, Mishawaka, South Bend. Also, I would recommend searching in areas like Ft. Wayne for MF. @Aaron Linden what are your thoughts?

 It doesn't bother me to expand my criteria as long as it has strong rental market and decent PM companies that service those areas. Its not like I have to live there.. 

Originally posted by @Kyle Perry :

Thank you @Aaron Linden. However I'm somewhat new here and can't seem to find that group? Is there a group forum on here for them? Any help haha

Thanks

 Hey @Kyle Perry 

We do not have an account on BP but you can google us. Here is a link. We meet the last Thursday of every month and, frankly, we have some really excellent educational events every month. Regardless, if you are interested, we are doing a bus tour of some local projects on Saturday. You can sign up on our website. As of last night there were only a couple spots left but you may be able to snag one this morning yet.


Aaron

Originally posted by @Stephen Sokolow :

@Chinmay J. I definitely agree that South Bend is a hidden gem. However, in terms of multi family deals there is not a ton of inventory. I think there are only 9 multi family properties on the market currently in South Bend. I think that for MF you need to consider the entire Michiana area such as Niles, Mishawaka, South Bend. Also, I would recommend searching in areas like Ft. Wayne for MF. @Aaron Linden what are your thoughts?

 @Steven Sokolow The market is hot right now making it ridiculously hard to find anything that resembles a deal. Having said that, I am starting to see the market cool a little bit. Houses seem to be sitting a little longer than they were a couple months ago and I am seeing quite a few price reductions on houses (that were originally way overpriced). This is a good sign I think.

As for multifamily, there are not a ton of purpose built small multi families in SB so they are definitely tougher to dig up. The last time I found one that was worth looking at was around October of last year and it turned out it needed a ton of work so I was unable to make a deal at the time.

The SB market in general seems quite promising to me. They are putting in an update to the South Shore rail to Chicago making the commute time to Chicago no more than if one were to live in the burbs. According to this article, the region added 3,348 jobs last year which is quite impressive. We also have several companies in the area expanding or entering the market. The current government is doing what they can to encourage growth and prosperity in the area as well.

Downtown and Notre Dame multifamily does concern me currently, I think they are building far too much premium (A-Class) stock in the area right now. I believe this will drive down their prices as additional A-Class units come online and vacancies creep up. My guess is that this will drive down rents to the point where they would compete with the more traditional apartments in the downtown area. Having said that, my assessment on downtown multifamily is purely my perception and has no basis in data right now.

Aaron

Welcome @Kyle Perry@Aaron Linden is right the local REIA is pretty strong. We buy SFH in St Joe and surrounding counties and if you have time to talk let me know.

Good Luck

Hi All,

Wanted to introduce myself on the thread.  Currently buying in Michigan City and surrounding area, very interested in SB. 

Would love to get everyone together for a meetup sometime!

I just bought my first live in duplex in Goshen, A meet up would be cool.

I would be interested in a meet up as well!  I am a local investor from Warsaw area but looking to expand!  If a meeting gets arranged please message me.

I'm from South Bend but moved up to Buchanan. I invest all over Michiana and we need a local REI, I'd be willing to help organize it.

Hi everyone! I've been looking for a local REI group up here in Mishawaka/South Bend for a while now. I'd love to network with a few people in the next week or so - even if it's just at a Starbucks or something to start it up. I'm not currently looking at South Bend to invest but regardless, would be great to meet other investors and build our network! I'll PM a few of you to see who's interested and when we could get something set up. Feel free to PM me as well if you're interested.

Matthew,

Please feel free to join us for REIA-NCI annual Christmas party on 12/13 at Eberhart golf course starting at 6pm. You can google REIA-NCI to find out more about the group. So far as I know this is the only officially organized group in South Bend. There is another group in Elkhart too.

Aaron

Hey everyone, I have been trying to get a FB group going for a while now. It's not super active, but the more people who use it the better it will be. I am a part of one in Ft Wayne and it's really great. If anyone wants to join you can do so here:

https://m.facebook.com/groups/210457183091634?ref=bookmarks

Hello Everyone,

I am from the South Bend area and looking to start investing. I would also be interested in a local meet up. I am actively looking for my first deal. I would be interested to know what areas of South Bend i should be considering. Thanks

Pablo

Hi Everyone. My hometown is South Bend, now I live in Berrien Springs, Michigan. I work in Mishawaka, Indiana. I am a veteran and would like to use my VA Loan benefit to buy a multi-family somewhere in the Michigan/ Indiana area. I would like to join an investment property group. This is my first time investing in real estate. I have been watching Bigger Pockets videos on YouTube for about a year.

Hello @Roger Edington this a great time to invest. Glad you are taking the plunge if you ever need advice or help don’t be afraid to ask. If you are ever looking to invest in or around the Lansing area contact us at DS Huber Properties. We are a full service property management company that has a great reputation with city officials, tenants and owners. Hope to hear about exciting new adventures soon.

me too I leave in elkhart Indiana too but im a newbe so I will love to add value as long has I learn so I want to network in the aria.

Hi all,

This is an interesting thread. I enjoy owning apartments in South Bend, but as @Aaron Linden stated, there just isn't much inventory. I have really slowed down on trips to the area since there is never anything to see. Property management is also an ongoing issue, as is finding high quality contractors. I never realized how spoiled I was living in the Chicago market! 

Thanks for looping me in @John Warren . The other concern I developing with South Bend proper right now is that the city has taken a pretty aggressive stance towards landlords. Recently there has been changes in how water is billed (can no longer be billed directly to the tenant), they made an attempt at a landlord registration which was pushed through but has since been removed, and now they are pushing for inspections and certifications of all rental units. All of these things can be managed of course but are certainly inconvenient.

Originally posted by @John Warren :

Hi all,

This is an interesting thread. I enjoy owning apartments in South Bend, but as @Aaron Linden stated, there just isn't much inventory. I have really slowed down on trips to the area since there is never anything to see. Property management is also an ongoing issue, as is finding high quality contractors. I never realized how spoiled I was living in the Chicago market! 

What can be done to fix the property management issue in South Bend?  Is there a niche that isn't being filled?  I've seen that you've posted several times about this so I would figure if there was a great option you would have taken advantage or it by now.  I know several people who are really good with their hands around here and I'm sure there are tons more so it surprises me that this is an issue.  Does anyone else have these issues?

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