Newbie in Indianapolis

[Christian Van Dinther]

Hi BP nation,

My name is Christian and am new to REI and BP. I am originally from Chicago, IL and attended the University of Indianapolis while playing collegiate soccer and studying business for 3 years, so am very familiar with the Indy area. I am fairly new to Real Estate, I actually just moved into my first apartment a few months ago and that process is actually what sparked my interest in REI. I first began reading books, listening to podcasts, watching YouTube videos and then discovered BP nation! My goal in REI is to build a small but mighty portfolio. Eventually, I would like to own properties throughout the midwest. I am beginning my search for Duplexes/SFH to start with a potential house-hack/FHA strategy but am definitely keeping all of my options open. I am hungry to continue to learn and develop my skills to reaching my ultimate goal of becoming financially free and to provide safe but affordable housing to others. I also aspire to one day start a charity in support of Parkinson's disease on behalf of my late Grandfather. That being said, I look forward to connecting with you all and am very grateful to apart of such a great community of like-minded individuals! Take care and stay safe everyone.

Christian

[Paul Shannon]

Welcome to Indy - the poster child for D class property marketed as opportunity!  I'll shoot you straight...As a resident of this city and investor, there is absolutely opportunity.  But as a few locals have commented, its street by street.  The nature of the market - high cash flow, high income to rent, and job growth, makes for a attractive MSA, but please do your research. 

If you get on a buyers list, validate the comps that are sent for god sakes.  Validate the rehab costs being quoted.  I'm on 6-8 buyers lists and the inventory are straight tear downs.  Cash flow is overstated, but its there a little, but who's taking the risk here????  The buyer.  You will buy  but you'll never sell without a major overhaul of the property.  Look at the cap ex on a 100 year old property.  That's what's being marketed. 

Budget for these factors with eyes wide open and you can make a lot of money.  There are targets on out of state buyers.  Just be aware.