Updated almost 6 years ago on . Most recent reply
Getting to know my market
As a “newbie” I am trying to get to know my market, however I’m finding it confusing to do so. I am looking to see what areas of Indianapolis I should try to stay away from. What kind of research or sources should I use to help? Thanks in advance for your suggestions.
Most Popular Reply
Drive to different neighborhoods; if you would want to live there, it's probably okay.
Ask a real estate agent or property manager who works with investors what areas you should be concentrating. (I have one I can refer)
Trulia.com overlays crime maps so you can see what areas have the densest crime
Areas with good schools tend to be more desirable places to invest (but not always)
Specifically for Indianapolis, I would stay away from the racetrack, Lawrence and the northwest which leaves you S/E of downtown in the Beech Grove / Franklin Township area.
Full disclosure: my neighborhood information is at least 18 months old in your area. Additionally, people are making money in all the neighborhoods I told you to stay away from. S/E of city center is just what we found to be the right combination of neighborhood, tenant demographic, and price point.