Indianapolis New Investor Visiting --- Looking For Advice and Additional Pointers

[CJ Lounsbury]

I am going to drive around and look at the neighborhoods in Indianapolis, Indiana. I have where I will be driving through and a system for marking which neighborhoods are one's I would invest in. What should I look out for when I am there? I have a basic understanding of what to look out for, but any insight is appreciated. Is there any Indianapolis-specific advise? Are there any additional pointers anyone can offer?

For context, I am flying out for a day to drive around a predefined route along with identifying which neighborhoods I feel have the best chance to go from C-class to B-class in the next 5-15 years. I would be an out-of-state investor operating from New Jersey. I am looking to buy a 2-4 unit property in the 100-300k range. I am not looking to do any major renovations, only cosmetic if it is needed. Any advice on remote management would be appreciated as well.

Thank you for reading.

[Greg Scott]

Why are you restricting yourself to duplexes, triplexes, quads?  There are many amazing single family properties in the Indy area.  Since there are more of them, it is easier to find comps and you have more flexibility.  I'd much rather have three SF properties than one quad.  You have more options.

The East side tends to have the roughest areas.  There are plenty of submarkets that have great options.  I'd avoid anything in Lawrence Township (NE corner of the City of Indianapolis).  The judge there basically ignores the law and drags out any eviction proceedings.