Indianapolis Buy and Hold

[Paul Burke]

BP Hoosier Friends –

After doing a ton of research, I'm interested in out of state buy and holds in the Indy market (primarily SFH but am open to MF as well). I also have close family in the New Palestine area which adds to my reasons for being active in the area.

I’d love to know -

• -What specific areas of town do you like for cash flow, cash flow+appreciation, etc. Any up and coming areas?
• -Who do you recommend for PM’s and investor friendly real estate agents?
• -Are there specific turnkeys that you’d recommend? While I’d prefer to buy and hold without paying turnkey premiums, I want to keep all my options open.

Any “boots on the ground” words of wisdom in general for the Indy market would be much appreciated as well!!

Many thanks!

[Ryan Mullin]

Originally posted by @Paul Burke:

I’d love to know -

• -What specific areas of town do you like for cash flow, cash flow+appreciation, etc. Any up and coming areas?

Fountain Square and the areas around it. Especially the Bates Hendricks neighborhood. I can still hit the 2% rule (or come pretty close) and ARV's are on the rise. 2 years ago nothing sold for over 100k. Now there are plenty of comps in the 115 - 130k range. There is even an active listing for 219k. If it sells above 175k (I suspect it will) it will be a game changer for sure.

Another area with high appreciation and excellent cash flow is Mapleton Fall Creek.  Can't really hit the 2% mark any more but the equity and appreciation is amazing.  The amount of properties in the area that were rehabbed just this summer was astonishing. The actual creek (fall creek) has been a natural boundary for years.  South of the creek (where I live) you had 250k houses and north of the creek you had 30k houses.  Since 2012 this has changed.  We now have 150k comps north of the creek.  When you see the progress you can tell that it will continue north to 38th street and connect with meridian kessler.  For now our sweet spot is the 30th and broadway, park, ruckle, central, area.