Turn key provider · San Jose, CA · Member since 2010 · 4k+ posts · 3k+ votes
4y
@Shane Rojas Indianapolis is a strong cash flow market but you really have to know the areas well and do your due diligence. Indy can vary block to block and even street to street. My biggest piece of advice is to buy the highest asset class you can afford and do not buy cheap properties in inner city, urban core areas. Stick with upper C class and above neighborhoods. I would also avoid multi families. Most are in old rough neighborhoods and with very few exceptions, do not perform well. We've been active in Indy for over 10 years. I'd be happy to share share my insights and help if I can.
Realtor · Cincinnati, OH · Member since 2018 · 8 posts · 11 votes
4y
I’m a realtor working in the NKY and Cincy areas. If you have specific questions, I’d be happy to answer! NKY is a great place to live and invest. Are you thinking river cities or a little further out?
Rental Property Investor · CA · Member since 2020 · 70 posts · 20 votes
4y
I am looking to invest in the Indy market too. I live OOS and this seems like a good market to start in. I am heading to there this weekend to get to know the neighborhoods and maybe look at some properties. What neighborhoods should I check out. I am looking into STR and even long term rentals.
I am looking to invest in the Indy market too. I live OOS and this seems like a good market to start in. I am heading to there this weekend to get to know the neighborhoods and maybe look at some properties. What neighborhoods should I check out. I am looking into STR and even long term rentals.
TIA
Hi @Himanshu, happy to help you learn some of the neighborhoods in Indy as an OOS investor :) shoot me a DM!
I’m a realtor working in the NKY and Cincy areas. If you have specific questions, I’d be happy to answer! NKY is a great place to live and invest. Are you thinking river cities or a little further out?
Realtor · Indianapolis IN · Member since 2018 · 464 posts · 339 votes
4y
Here are the numbers on one that I just finished in a solid C class Indy neighborhood. I paid $95K, I put $25K construction into it (did some of the work myself), it appraised at $160K, and I have a tenant in it for $1100. This is a unicorn in this crazy market, but still possible here in Indianapolis if you dig.
Also, wanted to speak to the SFR vs multi -- Indianapolis is heavy on SFR because we have so much space -- you can go 15 miles from the center of downtown and be standing in a cornfield. So, it has been built out instead of up.
Hope that helps! Glad to have a conversation with anyone interested in this area
Anyone have any advice on investing in Indianapolis, I'm looking to purchase a SFR .
Thanks,
Shane
@Shane Rojas, I am just starting to move into REI myself in the Indianapolis Market. I'd love to compare notes with you on how you're planning to get started.
Real Estate Consultant · Indianapolis, IN · Member since 2014 · 322 posts · 238 votes
4y
Hi @Brian Hayes and @Shane Rojas I would be more than happy to explain our current market situation. Deals are absolutely still being done. We just have to get more creative!
Turn key provider · San Jose, CA · Member since 2010 · 4k+ posts · 3k+ votes
4y
@Shane Rojas we've been active in Indianapolis since 2010. There's a lot of things that make Indy a good market including good cash flow, strong economic and demographic trends and Indiana is a landlord friendly state. You have to buy the right asset class in the right area's however. Indy can vary block to block and even street to street so you need to understand which areas are good or have someone that does and that you can trust. I'm happy to share my insights if you want to connect.
Rental Property Investor · Carmel, IN · Member since 2016 · 1k+ posts · 615 votes
4y
Hi Shane, I have started my real estate journey here in Indianapolis. Now, I have more than a hundred doors. I would love to help/share my experiences and chat with you more if you're interested.
I am in the process right now. I have talked to PNC, Chase, First Merchants is the first to be open to a 5plex. I am still trying so if I find anything I will contact you through Bigger Pocket.