Investor · Poland · Member since 2019 · 50 posts · 16 votes
Hello all of you wonderful investors out there,
So... I've been narrowing down the LOCATION to invest in. By population growth, landlord friendliness, city size (I LOVE big cities), economic diversity, my budget and a few other factors.
So Indianapolis is one of my winners which I am looking into more seriously.
I want to do a BRRRR strategy, in a C neighborhood. Fixer upper Single story 4 units. $150 000 purchase price. My main goal is to cashflow minimum $150 per door so a 4plex would give 600$ PURE cashflow in total. 9-15% Cash on Cash return.
Which neighborhoods do you see are growing? and rental demand going up? (Hendricks county? Johnson County?)
I'd love to connect with investors who are already in the game in Indianapolis. I think BP is a great website to also connect great property managers and agents.
Real Estate Consultant · Indianapolis, IN · Member since 2021 · 440 posts · 292 votes
3y
Hi Adrain, love that you're looking into Indy.
I actually just sourced one of my investor client's a C grade Quadplex for 190k off market. Your price range is on the extreme low end and I wouldn't be surprised if you only find 1/1 units at that range. It is possible but challenging for sure, and you'll likely wind up with one needed a lot of rehab. Which could help your BRRRR numbers though.
I think your cash flow goal is very possible. I'll keep you in the loop and send anything I see.