Real Estate Coach · Reno NV · Member since 2015 · 273 posts · 61 votes
I am trying to research more about investing in Indianapolis. On home facts it says that Indianapolis has a high crime rate. should I stay out of that area and find something on the outskirts? Could any investors in the area share their experiences?
Investor · Carmel, IN · Member since 2014 · 332 posts · 245 votes
11y
@jasmine calio @David Y.
Posts like this are always humorous because you have to put all data information into proper context.
Note: I am not trying to convince you whether Indianapolis is good or bad or to sell you anything - you can make up your own mind, but consider the following facts.
Consider that the Indianapolis MSA (metropolitan statistical area) is, in terms of size/area, approximately 5 times greater than the entire Island of Oahu!
In terms of population, the Indianapolis MSA is approximately 2x greater than the Honolulu MSA.
Now, if someone asked you about the crime rate on the entire island of Oahu, how would/could you answer? What would you include in your answer in terms of determining if it was high/moderate or low crime - Kahala or Waimanalo, Kapolei or Chinatown, Waikiki/Diamond Head or Mililani?
In terms of David's comments, Sugar Land is part of the greater Houston area. Last year, I spent time looking at investment properties in Missouri City (which is very close to Sugar Land), and I think Houston is a great market for investing. If someone sent you the following story about Houston crime, would you say that you shouldn't invest in Houston?
Houston Homicides Up 59% in the 1st Quarter of 2015
Once again, I am not trying to convince you that Indianapolis is a good or bad market! I am just pointing out that you need to put the information into proper context.
Registered Nurse (ICU) · San Jose, CA · Member since 2014 · 496 posts · 332 votes
11y
I recently invested in inner city Indianapolis and I am very happy with all my properties. I also got one in the suburbs that's great too. It will depend on your risk tolerance to determine what's best for you. The crime rates are definitely higher in the inner city but so is the cash flow!
Investor · Carmel, IN · Member since 2014 · 332 posts · 245 votes
11y
@jasmine calio @David Y.
Posts like this are always humorous because you have to put all data information into proper context.
Note: I am not trying to convince you whether Indianapolis is good or bad or to sell you anything - you can make up your own mind, but consider the following facts.
Consider that the Indianapolis MSA (metropolitan statistical area) is, in terms of size/area, approximately 5 times greater than the entire Island of Oahu!
In terms of population, the Indianapolis MSA is approximately 2x greater than the Honolulu MSA.
Now, if someone asked you about the crime rate on the entire island of Oahu, how would/could you answer? What would you include in your answer in terms of determining if it was high/moderate or low crime - Kahala or Waimanalo, Kapolei or Chinatown, Waikiki/Diamond Head or Mililani?
In terms of David's comments, Sugar Land is part of the greater Houston area. Last year, I spent time looking at investment properties in Missouri City (which is very close to Sugar Land), and I think Houston is a great market for investing. If someone sent you the following story about Houston crime, would you say that you shouldn't invest in Houston?
Houston Homicides Up 59% in the 1st Quarter of 2015
Once again, I am not trying to convince you that Indianapolis is a good or bad market! I am just pointing out that you need to put the information into proper context.
Real Estate Coach · Reno NV · Member since 2015 · 273 posts · 61 votes
11y
i guess that's the main problem. I know the local area in Hawaii because I live here but have no way to find out the local area of Indianapolis outside of web sites. If anyone can tell me the local neighborhoods I should focus on that would be really helpful.
Turn key provider · San Jose, CA · Member since 2010 · 4k+ posts · 3k+ votes
11y
There are not many large metropolitan areas that don't have good areas and bad areas. Indianapolis is the 12th largest city in the country, so of course it has some high crime areas. If you look at a heat map of the city, you will see some areas that light up like a But there are lots of solid green areas where crime is virtually non existent. The key is knowing the areas and where to avoid. No different than many popular investment markets.
Real Estate Broker · Indianapolis, IN · Member since 2009 · 575 posts · 496 votes
11y
I've lived and worked in the "inner city" of Indianapolis for over a dozen years now. I am yet to be murdered. :) - I put Inner city in quotes because people tend use that phrase with a negative connotation. When in reality some of the most expensive neighborhoods are downtown... Lockerbie square and Mass ave for example. And.. on the flip side one of the absolute worst areas is outside of 465 (loop) in what appears to be "the suburbs" on a map. In terms of murders its the worst per capita.
If you know the 6 or 8 areas of indy to avoid you will be just fine. Majority of the really bad crime is isolated to those particular neighborhoods.
Even if you happen to be in those areas you are typically going to be just fine as long as you aren't out robbing drug dealers and getting high on crack.
My daughter goes to a prestigious private school that just happens to be located in another one of the worst areas (crime wise) in the city. And I'm completely 100% comfortable with it. Her school is located at 33rd and meridian. On the east side of meridian you have 350k houses all around. On the west side of meridian you have section 8 and section 42 apartments. Lots of them. Go figure.
Thats why Indy is so hard for out of towners to navigate. Its tricky. ..And looks can be deceiving. And as Matthew stated statistics can be deceiving as well.
Turn key provider · San Jose, CA · Member since 2010 · 4k+ posts · 3k+ votes
11y
Trulia has one but I would use it as a starting point only. Like @Ryan Mullin says, you have to be careful of statistics and you have to understand what goes in to those statistics. It's important to know the areas well or work with someone that you really trust who does know the area.
Specialist · Honolulu, HI · Member since 2014 · 1k+ posts · 1k+ votes
11y
Matthew - not the best choice to use Oahu as your reference example for crime relative to population. Hawaii has a very low violent crime rate per capita, with honolulu having half the population of Indy but significantly less crime.
Investor · Carmel, IN · Member since 2014 · 332 posts · 245 votes
11y
@Andrey Y. I understand very well that Oahu has a low violent crime rate - I was simply trying to convey to Jasmine how broad her question was in a context that made sense to her (the Indianapolis MSA is 5x the size/area of Oahu), and as such, that there was no way to provide her with a sufficient answer. I lived in Honolulu for 2 years with offices on Bishop Square and spent 1 year of my life exclusively focused on a consulting project for Campbell Estate pertaining to its Master Plan for a very large portion of the west side of the Island, which happened to include Kapolei (where Jasmine lives).
The truth of the matter is that likely the best course of action for her is to invest in a place which she understands very well (e.g. Hawaii), but only she can make that determination.
I'd say that's a bit of an over reaction....if that scares you off, then you'll be scared away from most major metro areas.
Indy is roughly 400 sq miles. Almost all the violent crime occurs in about 8 sq miles of the city. You avoid the handful of areas that make up that, and you'll be just fine
Greenwood, IN · Member since 2013 · 346 posts · 93 votes
11y
I think if you ask people here in Indy. It's street by street. You can't just state a zipcode and be done with it. Most of the murders happen on the near northeast side of town.
When I first started investing. I always heard 46205 and 46208 were the worst. But it's not that simple. Stay away from the near northeast side. You will know you are there, when you start seeing houses, sell for 5 or 10k per house. outside of that, pretty much anything around the 465 loop is ok.
Professional · Batavia, IL · Member since 2016 · 104 posts · 39 votes
9y
My wife and I are starting to look at investing in Indy now. We have noticed there are quite a few duplexes on the market. Does anyone happen to know if duplexes are not a popular rental choice? We're interested in multi-family, but don't want to make a mistake getting into the market.
Indianapolis, IN · Member since 2014 · 68 posts · 28 votes
9y
I have no personal experience, but most posts I read here say that in general Indy is not the best place for duplexes, especially if you are not local.
Investor · Saint Joseph, MI · Member since 2015 · 93 posts · 50 votes
9y
@Richard Anderson I personally own over 100 units in Indy, almost all duplexes, and they are performing extremely well for me. I think a lot of it highly depends on the Property management team that you get - mine has 20 years experience and manages over 500 properties, and understands C class tenants very well. For example, when they don't pay their rent, you can't always just send them a letter and expect that to do the trick. Someone on the team needs to knock on their door. Multi-family is more transient in nature then singles, naturally a family will settle into their own home and not want to leave, so you will more than likely see a little more vacancy in multi's but then you're also getting 2 rents vs. 1. I think best plan is to get a mix, I'm muchheavier on duplexes but also working on building my SFR portfolio there as well.
Real Estate Broker · Portland, OR · Member since 2015 · 201 posts · 98 votes
9y
Jack Gibson Hi Jack, I currently own 4 duplexes in Indy and have had a good experience with them so far. I'm looking to add a lot more and would like to connect on how you're finding your deals and what your criteria is. Fantastic job acquiring 50units in a short time.
Cheers!
Investor · Honolulu, HI · Member since 2016 · 362 posts · 93 votes
9y
@Jack Gibson I'd like to connect with you to chat about your experience with acquiring properties out of state. I'm looking to do the same in Indy but need a little guidance if you don't mind.
Lafayette, CA · Member since 2013 · 91 posts · 45 votes
9y
I've purchased 8 SFR properties in Indy this past year and recenter had to change property management companies since I had a really bad experience with the first company I signed with. I'd love a recommendation on a good PM company in Indy if anyone has one they can highly recommend from personal experience . feel free to message me if you don't want to or can't mention the company in this post.
Professional · Batavia, IL · Member since 2016 · 104 posts · 39 votes
9y
@Jack Gibson just curious, are you investing all over the city or just focusing on a particular area? We are getting more interested in the near east side. There appears to be a lot of good things happening in that part of town.