All Forum Posts by: Tyler Lingle

Hey Gurjot! The rent to price ratio in Indy in B- to C class is still around 1:1. Additionally, Indianapolis is growing on average 2-3% per year, and is one of the only Midwest large metro areas adding jobs every year. I own rentals here and I work as a real estate agent for local and non-local investors. Would love to talk more. 

We are struggling to find properties that make sense. It feels like pick one: Nice property but prices / interest rates that make it in the red every month OR Cash flowing property but it's in an area that feels unacceptable due to tenant pool, infrastructure quality, and crime. What's working right now for you? 

The best cash flows are often in the C- to D neighborhoods. However, these entail riskier properties, tenants, and investments. My clients + I focus on emerging neighborhoods that are quickly shifting from C to B. Pockets of the near Eastside (close to St. Clair Place for example), Mapleton-Fall Creek, east and south of Fountain Square are ripe with opportunity, and have many multifamily units. 

Hope this is helpful! 

Waiting for the market to "cool off" in Waikiki is a very very risky move. Especially in a super desirable area that has limited inventory due to geographic constraints. My suggestion is to get more quotes from different lenders and then just bite the bullet. I've seen drastically different interest rates from different lenders, just remember service can also be drastically different... As you mentioned, you can always refinance. 

Hi Ali, I'm an agent in Indianapolis and have helped over 20 investors this year purchase properties within the Indy market. Lebanon, IN is a great secondary Indianapolis market, and one of Indy's biggest employers: Eli Lilly pharmaceuticals just announced they are building a 2.1 billion dollar manufacturing plant there that should bring a multitude of new jobs. As for multifamilies, we have the occasional great tri or quad but there are tons of duplexes on the market, many of which are in areas that are redeveloping quite rapidly. I've love to share more insights with you!

Angel, welcome to the Indy investor community! I -- like you -- was searching for my first rental one year ago. Now, I'm the owner of 6 doors. I leveraged the power of partnerships to scale quickly. I'd love to chat! I'll send a PM!

In Indianapolis, with clients I've helped close homes on... they HAVE gotten in trouble and "pink slipped" by not pulling the right permits. I'd highly encourage you to have your GC do that. It should be one of your first screening questions. For small rehabs that take less than 2 days, I wouldn't but there's always the risk that you could get a slap on the wrist... 

Gary, I have two great contacts. One of which I have my own Quad under management with. I'd recommend interviewing both of these companies as they are great: small enough to have relational service, but large enough to know what they're doing. 

Hey Jason! 

Brownsburg is highly suburban and will have very very few multifamily properties. 

Greenfield is an older town and does have more multifamily housing stock. Over the medium term it seems to be a solid bet. Although their recent job growth was actually negative when I pulled some data. In the long haul they will likely get connected to Indianapolis via suburb sprawl, but their job growth doesn't necessarily make me bullish on them for rental turnover and overall appreciation. 

Bburg is a B+ area and Greenfield is B, in my experience in both places. 

Hope this helps!

Hey Dalton, I have a CPA I do really like. I can send you the contact!