Hey all, I'm a builder-developer based in Indianapolis. We focus on infill duplexes, quadplexes and townhomes (middle market housing) in the urban core, plus some larger projects in expanding Indiana towns. As we plan next year's pipeline, I'd like to hear what other local investors are actually seeing on the ground.

A few things I'm curious about:

1. Rents: Are you still getting rent increases on renewals, or are things flattening out? Which neighborhoods are holding up best for 2BR and 3BR units?

2. New construction vs. older stock: Are tenants and buyers paying enough extra for new builds to justify the higher cost, compared with renovated older homes?

3. Townhome demand: Is there real for-sale demand for townhomes at entry-level price points in Indy and the collar counties, or is it mostly investors buying?

4. Financing: How are you financing deals right now (DSCR, local banks, private money)? Has anything changed in the last six months?

5. Supply: Are you worried about the number of new rental units being built in places like Fishers, Westfield, and the Mile Square, or does demand seem to be keeping up?

I'm happy to share what we're seeing on construction costs and lot pricing if it's useful. Mostly I'd like a real conversation about where people think Indy goes from here.

What's working for you, and what are you avoiding?