Looking to invest into a multifamily property in Indianapolis any tips or pointers on that market
Specifically wanna buy a duplex .
That's a really big question. What class of property? Age? etc. Feel free to reach out directly. More than willing to try to help!
@Leonel Vanegas the biggest tip I can give you is to be careful of where you buy. We've been active in Indianapolis for 10 years and I love the market, however, it is not particularly good for multi family. Most of the MF units in Indy are old, converted SFR's in the rough areas of the city. Do your due diligence and know the neighborhood.
I personally own several and really like them. Good “house” feel for tenants but unlikely to have 100% vacancies. Plus is nice area you get get great rents. I have had several in the $1500 per unit range and they were awesome. I sold these high dollar ones recently as the market spiked in certain neighborhoods, but still own several.
But as Mike said if in a bad area it’s in a bad area. In good neighborhoods they can be great. Also, great house hacking situation.