Multifamily properties (triplex-quadplex)
Are there still many multifamily properties in Indianapolis to house hack? I am thinking/wondering to house hack either triplex or quadplex. Would they be profitable in Indianapolis market? I saw some articles that Indianapolis is mainly single for family property market.
They’re tough to find. Gotta be willing to grind! Good luck!
Hi Dung Hlun! Indianapolis is a great market to house hack in. If you're interested, I'd like to connect you with some of my team who can help you out with house hacking.
I'm not familiar with the Indianapolis market. However one strategy we use in Colorado often is to take a single family home that is zoned for multi-family homes and split them in half to create 2-units. Or id a SFH has a detached garage we can convert that into another unit to have a house and cottage on one property.
Get creative! Rehab for this can be expensive for the garage conversion but splitting a property in half an adding a kitchenette are more cost effective. These properties can be spotted if they have a walk out basement or a connection to the garage on a bi-level property.
Hi @Dung Hlun! I'm a licensed Realtor based in Indianapolis. I work with in-state and out of state investors frequently. I can definitely help you find the ideal property for you to accomplish your house hack. I'm going to send you a message!
Yes, I shoot out a ton of them on my email list and for those i'm connected with!
Quote from @Tyler Lingle:
Yes, I shoot out a ton of them on my email list and for those i'm connected with!
Hi Tyler! I'm also looking into beginning my real estate journey by venturing into house hacking with either a multi family property or a SFH and renting out room-by-room. I'd love to connect to see what you think the market is like at the moment and how possible it would be to do with my wife and I'd budget/situation! Thank you!