All Forum Posts by: Ori G.
Ori G. has started 1 posts and replied 2 times.
Post: More neighborhood advice for OOS newbie
- Israel
- Posts 2
- Votes 1
Thanks everyone for the great advice!
@Monica Johnson Thanks for the example of your house in Little Flower, and the reassurance. Looking at street rental comps, makes a lot of sense.
@Jason Malabute Thanks, Haughville is probably an extreme example... Being OOS yourself, what do you do to gain better insight into what's going on in the neighborhoods and streets you're interested in?
@Mike D'Arrigo I really appreciate you offering to share your experience, I'll be in touch.
@Sam B. So there's a risk in opting for downtown neighborhoods (maybe crime, maybe it's easy to end up in the wrong street), but what is the reward? Appreciation? More renters? A bigger selection of team?
Are the donut counties so much more stable, better schools, less crime? What then are the downsides? Less appreciation/renters/cap rate?
Any suburbs that fit my criteria that I should look into first?
Post: More neighborhood advice for OOS newbie
- Israel
- Posts 2
- Votes 1
Hi everyone, I'm Ori from Israel, new to REI, this is my first BP post :)
After analyzing most US metros I chose Indianapolis. I'm looking to buy rentals worth $110K ARV, with $900+ rent, focusing first on cash flow, wanting to start with a handful of stable B/C neighborhoods, make some deals, and then later expand.
I talked to some agents who suggested some up and coming neighborhoods: Bates Hendricks, Irvington, Little Flower, Garfield Park, even Haughville. But analyzing some of them (via trulia, neighborhoodscout) I saw high crime, poorly rated schools & low income. I also keep hearing that Indy varies a lot from block to block. Doesn't feel stable.
At this point I could use some advice from more experienced investors:
* Are some of the neighborhoods I mentioned too risky for beginners/OOS, either for management reasons (high crime / low income) or due to too big a difference from street to street?
* Are there more stable B/C neighborhoods that fit my criteria?
* What are the dis/advantages of ditching downtown and going outside the ring, for example to Hendricks County (besides having to start my analysis from scratch)?