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Updated about 22 hours ago on . Most recent reply
Out of state investor
Hey BiggerPockets Fam! 👋
Good evening everyone! After diving into some research lately, Indianapolis keeps popping up on my radar as a potentially strong market. 📊🏘️
That said… I can’t help but wonder am I late to the party? 🕰️
I’d love to hear your thoughts:
- Is Indy still a solid place for investors to break into?
- Are we seeing signs of saturation?
- Any submarkets or neighborhoods you’d keep an eye on (or avoid)?
I know there are some Indy experts here, so please chime in with your experience or opinions! Whether you’ve invested there or decided to pass, I’d love to learn from your insights.
Looking forward to your thoughts! 🙌
Thanks in advance, BP crew!
Most Popular Reply
Hi Oswaldo! Do you have any connections to Indianapolis? Family and friends there?
I invest in the Indy metro area. I did live there so I didn't just pick a random market far away. To be transparent I've had mixed results - Class A (nice suburb with great schools) decent appreciation (for Midwest but lower compared to California) and great tenant. Class C (East side of Indy) and will never buy Class C ever again, good tenant but too many repair issues with a renovated 1920 home. I did buy Class A in 2013 so in a much different market. I've commented about this multiple times.
Pros: landlord friendly, low insurance rates (there are occasional tornadoes but my insurance is still very reasonable), no rent control, diverse industries so local economy is good
Cons: property tax rates are high 2.77% and 2.7% for my properties (two different counties), being 2000 miles away is a disadvantage (bought Class C sight unseen), paying a property manager 10% of monthly rent (that seems to be the going rate for most PMs for long term rentals)
DM if you would like to know more