Indianapolis Investing Neighborhoods

New to Real Estate · Indianapolis, IN · Member since 2020 · 14 posts · 21 votes

I've been searching for BRRR properties <$100,000 purchase in Indy. Mainly looking at Near Eastside, Crown Hill, Garfield Park/Beech Grove and Near Westside/Speedway areas. Any others to consider and look into? I don't know much about the SW side down closer to the Airport (Mars Hill/Drexel Gardens) or the NW side heading towards Lawrence (Brightwood/Devington). Thoughts, opinions, concerns? Appreciate any and all insight!

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Jaron WallingPro Member

Rental Property Investor · Indianapolis, IN · Member since 2018 · 4k+ posts · 4k+ votes

@Patrick Gilbert I'm a cyclist and ride through the Mars Hill neighborhood occasionally in route to Mann Rd. and beyond to the beautiful hilly roads near Martinsville, IN. Unless you're comfortable with lower class neighborhoods and everything that comes with it I'd avoid the Mars Hill neighborhood. That's just my opinion.

It's basically land locked between Harding (stone quarry) to the south, airport to the west, and commercial recycling and industrial businesses to the north. The houses and yards are really small and so are the values. Fall of last year we bought some outdoor furniture from FB market place in Mars Hill. I'm comfortable in most neighborhoods but the girl friend almost didn't get out of the car. Nothing has changed.

Beech Grove is blowing up. It's a great little community and prices justify it. The main street literally looks like a Broad Ripple Ave in the making. If you can find a nice 2-3 bedroom that needs work in that neighborhood I'd jump on it.

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Michael Margarella
Investor · New York City · Member since 2020 · 164 posts · 75 votes
4y
The Mainstay group has a pretty sweet neighborhood map. They’re wholesalers and definitely worth connecting with.
https://indyinvestormap.com/
1 Reply
Patrick Gilbert
OP
New to Real Estate · Indianapolis, IN · Member since 2020 · 14 posts · 21 votes
4y
Just had a conversation with Brett at Mainstay actually. Checked out the map and this is very helpful, thank you!
0 Reply
Cullen W Jones
Real Estate Agent · Indianapolis, IN · Member since 2019 · 42 posts · 24 votes
4y
Originally posted by @Patrick Gilbert:
Just had a conversation with Brett at Mainstay actually. Checked out the map and this is very helpful, thank you!

I'm actually having issues opening the investor map. However, Patrick, hello! I'm Cullen and I'm a Realtor in Indianapolis. Let's work on acquiring you some new assets! I'm going to send you a message

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Jaron WallingPro Member
Rental Property Investor · Indianapolis, IN · Member since 2018 · 4k+ posts · 4k+ votes
4y
@Patrick Gilbert I'm a cyclist and ride through the Mars Hill neighborhood occasionally in route to Mann Rd. and beyond to the beautiful hilly roads near Martinsville, IN. Unless you're comfortable with lower class neighborhoods and everything that comes with it I'd avoid the Mars Hill neighborhood. That's just my opinion.

It's basically land locked between Harding (stone quarry) to the south, airport to the west, and commercial recycling and industrial businesses to the north. The houses and yards are really small and so are the values. Fall of last year we bought some outdoor furniture from FB market place in Mars Hill. I'm comfortable in most neighborhoods but the girl friend almost didn't get out of the car. Nothing has changed.

Beech Grove is blowing up. It's a great little community and prices justify it. The main street literally looks like a Broad Ripple Ave in the making. If you can find a nice 2-3 bedroom that needs work in that neighborhood I'd jump on it.
4 Reply
Patrick Gilbert
OP
New to Real Estate · Indianapolis, IN · Member since 2020 · 14 posts · 21 votes
4y
Awesome, that insight is definitely helpful Jaron. Thank you!
1 Reply
Jayson Cain
Lender · Manhattan Beach, CA · Member since 2017 · 423 posts · 268 votes
4y
@Patrick Gilbert Glad to see you're actively looking. Excited for you to get your first property!

Regarding Mars Hill/Drexel Gardens, I'd also check if it's in the flood zone. If you end up holding the properties, that cost will affect your cashflow.

2 Reply
Nick GiulioniPro Member
Rental Property Investor · Carmel, IN · Member since 2016 · 1k+ posts · 615 votes
4y
Hi Patrick, welcome to Indianapolis market! I have started my RE journey here. Now, I have almost a hundred doors. I would love to share my experiences and chat you more if you're interested.
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Mike D'ArrigoPro Member
Turn key provider · San Jose, CA · Member since 2010 · 4k+ posts · 3k+ votes
4y
@Patrick Gilbert personally, I would avoid the Near East Side and Crown Hill. Those can be pretty rough areas. I'm also not a fan of Mars Hills. It's not a bad area but it tends to have a lot of multi-use industrial/residential zoning on the same streets. I just think there are better areas. The other areas that you mentioned are generally good. I would definitely look at the Devington area. This is one of my favorite neighborhoods. I would also look at the areas of Warren township between 30th and 10th streets. We've been active in Indy for many years. Let me know if I can share some further insights.
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Katie Rouzer
Member since 2023 · 1 post · 1 vote
3y
Quote from @Nick Giulioni:

Hi Patrick, welcome to Indianapolis market! I have started my RE journey here. Now, I have almost a hundred doors. I would love to share my experiences and chat you more if you're interested.

Nick - I am new to my RE journey and currently doing a ton of research and analyzing properties. I live in Fishers and would love to chat and here about your experiences if you are interested!
1 Reply
Nick GiulioniPro Member
Rental Property Investor · Carmel, IN · Member since 2016 · 1k+ posts · 615 votes
3y
Quote from @Katie Rouzer:

Quote from @Nick Giulioni:

Hi Patrick, welcome to Indianapolis market! I have started my RE journey here. Now, I have almost a hundred doors. I would love to share my experiences and chat you more if you're interested.

Nick - I am new to my RE journey and currently doing a ton of research and analyzing properties. I live in Fishers and would love to chat and here about your experiences if you are interested!

Would love to help how I can! Reach out to me directly and I will setup a 1:1
0 Reply
Cezar D.
San Diego, CA · Member since 2017 · 7 posts · 5 votes
3y
@Nick Giulioni what's your exprience with working with local contractors in Indianapolis?
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Nick GiulioniPro Member
Rental Property Investor · Carmel, IN · Member since 2016 · 1k+ posts · 615 votes
3y
Quote from @Cezar D.:

@Nick Giulioni what's your exprience with working with local contractors in Indianapolis?

Mostly terrible - which is why I started a project management arm of my business to help starting investors NOT get screwed by contractors. Feel free to hit me up! Consult.Giulioni.com
1 Reply
Tyler LingleBusiness Member
Real Estate Consultant · Indianapolis, IN · Member since 2021 · 440 posts · 292 votes
3y
@Nick Giulioni's construction management is great! He's a super knowledgeable guy on Indy investing in general.
[email protected]
Roots Realty Co. 561 Reviews
Website View Page
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Nick GiulioniPro Member
Rental Property Investor · Carmel, IN · Member since 2016 · 1k+ posts · 615 votes
3y
Quote from @Tyler Lingle:

@Nick Giulioni's construction management is great! He's a super knowledgeable guy on Indy investing in general.

Thank you! Really appreciate the vote of confidence! :)
0 Reply
Cezar D.
San Diego, CA · Member since 2017 · 7 posts · 5 votes
3y
Quote from @Nick Giulioni:

Quote from @Cezar D.:

@Nick Giulioni what's your exprience with working with local contractors in Indianapolis?

Mostly terrible - which is why I started a project management arm of my business to help starting investors NOT get screwed by contractors. Feel free to hit me up! Consult.Giulioni.com

Thanks, I'd hit you up. Be great to find honest contractors that don't try to rip off investors.
0 Reply
Mark Jones
Property Manager · Indianapolis, IN · Member since 2022 · 150 posts · 59 votes
3y
Just bought one about a mile south of Fountain Square. Doing just that! Needs a full reno, but the numbers work. Keeping an eye on strong areas and the direction they are moving has been my strategy!
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