House Hacking in Indiana

Member since 2023 · 1 post · 3 votes

Hi Everyone!

I am moving to Indiana for work and looking to house hack. I don't know much about Indiana and never really visited. Looking for guidance on which areas to look into for multi family properties. I am also open to talking to agents who has listing. Any help is appreciated.

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Ryan ThomsonBusiness Member

Real Estate Agent · Colorado Springs, CO · Member since 2018 · 1k+ posts · 1k+ votes

@Thierno Diallo House Hacking is amazing. Here are some resources I found really helpful on my journey.

1. For podcasts I really like the Huse Hacking episodes on Bigger Pockets Podcast and other channels. Here is a playlist with the best House Hacking Podcasts I’ve found: https://open.spotify.com/playl...

2. Great beginners guide: https://www.biggerpockets.com/...

3. The Book on House Hacking Strategies by Bigger Pockets is also a fantastic book

4. Happy to talk if you want more advice

5. Connect with a realtor who understands house hacking and has invested themselves

6. Connect with a lender to see what you qualify for and how you can improve that situation

7. Go to local Real Estate meetups and learn from people there

The Assumable Guy544 Reviews

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Edward Stephens
Realtor and Investor · Leawood, KS · Member since 2015 · 166 posts · 78 votes
3y
@Thierno Diallo if you are needing advice on areas and how to proceed, talking to listing agents is not the move. Listing agents exist to sell the properties they have listed...and to sell them for the highest price and best terms possible for the seller. They don't represent you. You need to find a buyers agent who can guide you. Let me know if you need a hook up in Indianapolis...just DM me. Good luck.
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Nick GiulioniPro Member
Rental Property Investor · Carmel, IN · Member since 2016 · 1k+ posts · 615 votes
3y
Hey there!

Congrats on the big move to Indiana! As someone who's been in the real estate investing game for quite some time, I'd be happy to offer some guidance and connect you with a few agents I trust.

First off, I'd love to know more about the kind of area you're looking to move into. That being said, some of my favorite neighborhoods for multi-family properties are Irvington and areas close to downtown. These spots have a lot of potential and can be great for house hacking.

Feel free to reach out to me directly, and we can discuss your preferences and goals in more detail. I'm sure we can find you the perfect fit, and I'm always happy to help a fellow investor or newcomer to our fantastic state. Indiana has a lot to offer, and I'm confident you'll fall in love with it just like I did!

Looking forward to connecting with you and helping you find the perfect multi-family property to kick off your Indiana adventure.

Best regards, Nick
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Ryan RomingerBusiness Member
Real Estate Broker · Indianapolis, IN · Member since 2018 · 340 posts · 144 votes
3y
Hello Thierno,
Congrats on moving to Indy! There are neighborhoods in downtown around Fountain Square, IUPUI, Butler University, and Ivy tech that have multifamily properties. Please feel free to reach out if you have any specific questions. Best of luck!
[email protected]317-935-0075
Intrigue Real Estate & Property Management4.6272 Reviews
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Gloria N GearBusiness Member
Realtor · Indianapolis IN · Member since 2018 · 464 posts · 339 votes
3y
Hi Thierno,
Just reiterating what Nick and Ryan are saying. The colleges in downtown Indy are Butler, Marion, Ivy Tech, IUPUI, and University of Indianapolis. I have seen growth around all of these areas and think they would be great for house hacking. Near East and Near South are good developing areas that have more good duplexes in them than other areas. (I had a house for rent in Bates Hendricks and almost all of my applicants were young professionals wanting to live in the area but rooming together to share costs). Possibly think around the hospitals as well, where you may attract medical staff or travelling nurses.
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Andrew HoganPro Member
Rental Property Investor · Indianapolis, IN · Member since 2016 · 560 posts · 463 votes
3y
Welcome to the land of Hoosiers @Thierno Diallo. There are many many duplexes inside the 465 loop. You may find occasional tris and 4-plexes but they are harder to find.

Just do your DD really well because the capex can get serious on a house built in 1920!
As a general rule of thumb, you'll likely have less deferred maintenance, less overall risk, safer neighborhoods, better schools, and higher quality residents if you buy a bit nicer and newer properties.
Best!
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Nazanin Boojar
Member since 2022 · 50 posts · 24 votes
3y
Quote from @Thierno Diallo:

Hi Everyone!
I am moving to Indiana for work and looking to house hack. I don't know much about Indiana and never really visited. Looking for guidance on which areas to look into for multi family properties. I am also open to talking to agents who has listing. Any help is appreciated.

What cities in Indiana are you thinking about? I can help you with analyzing the potential of each property and finding the right one as an STR.
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Ryan ThomsonBusiness Member
Real Estate Agent · Colorado Springs, CO · Member since 2018 · 1k+ posts · 1k+ votes
3y
@Thierno Diallo House Hacking is amazing. Here are some resources I found really helpful on my journey.

1. For podcasts I really like the Huse Hacking episodes on Bigger Pockets Podcast and other channels. Here is a playlist with the best House Hacking Podcasts I’ve found: https://open.spotify.com/playl...

2. Great beginners guide: https://www.biggerpockets.com/...

3. The Book on House Hacking Strategies by Bigger Pockets is also a fantastic book

4. Happy to talk if you want more advice

5. Connect with a realtor who understands house hacking and has invested themselves

6. Connect with a lender to see what you qualify for and how you can improve that situation

7. Go to local Real Estate meetups and learn from people there
The Assumable Guy544 Reviews
Website View Page
2 Reply
Scott P.
Rental Property Investor · Indiana...mostly · Member since 2019 · 468 posts · 245 votes
3y
I've house hacked more than once in Indiana back before "house hacking" was a phrase. It's a fair State, leaning towards Landlord friendly so there are many rental properties for tenants to choose from.
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