All Forum Posts by: Gloria N Gear

Hi Grayson, I don't know the exact answer to your question, but I am a realtor in Indy working with about 40 investors and just starting to purchase my own investment properties.  I am meeting with my CPA this month with this exact question, and I have 3 good real estate attorneys here that could help advise you with Indiana structure.  If that would be helpful to you, PM me and I will get you their contact info.

I am a realtor from Indianapolis that deals with a lot of investors - I have no interest in becoming a property manager at this time, so I network to bring good quality property managers to my investors that will be a good fit for them.  There are some lousy PMs in Indy, so I only recommend ones that I have vetted and personally worked with.  @david moudy is a personal friend of mine just starting out in property management and doing an excellent job.  @Ross Denman with RPM is another guy that is very knowledgeable about the city and will guide you in what areas are really good or up & coming and which areas to avoid.  I would be glad to chat further about others with anyone interested, just send me a PM

Hi Joseph,

I am a realtor in the Indianapolis area.  I have about 20 investors that I am actively working with.

I believe Indianapolis is a great area for all of the reasons you listed.  We have a very low unemployment rate and it has stayed consistently low for several years.  Our area has attracted several big name tech companies, but is a good solid blue collar worker area with plenty of manufacturing jobs and distributions centers. The rent to purchase rate is very close to 1%.  In the past year, I have been able to find my investors $60K-$90K houses that rent for $750-$950, $100K-$130K houses that rent for $950-$1250, and a few higher.  It is a friendly landlord state - state property taxes are capped at 2%.  And yes, we have several big name companies, SalesForce, Eli Lilly pharmecuticals, Amazon, and Rolls-Royce to name a few.

Flood insurance varies on the size of the house, but for the type that would be good rentals I seem to find range for $80-$100 a month.  Some of my investors have me avoid flood areas all together, some just figure the monthly cost into their figures.

I would love to talk with you further and get a feel for your exact parameters.  I have a really good lender and property manager that I highly recommend, but also network with other property managers, contractors and wholesalers in the area that have high levels of integrity. 

Let me know if I can get you any further information.