KC vs Indy

[Dustin Cook]

My wife and I are going to put our Tennessee rental up for sale at the end of the month, and will need to move quickly to buy our next rental property to be able to qualify for a 1031 exchange.  We have narrowed down our next market to either Kansas City or Indianapolis.  We would like to purchase something in the range of $110K to $130K in a nice neighborhood with low vacancy and get at lest 1% rent to value.  Will any of you experienced investors please advise on pros and cons of each of the markets?  Cheers.

[Lee Smith]

@Dustin Cook I know in Indy this would be very doable.. We generally can find 10-15 year old properties that all in are 80-125k and rent for $1100-1300 pretty easily.. The nice thing about this niche is that you will also get appreciation. Indiana doesn't really appreciate a lot, but about 3% a year(depreciation or appreciation). Even in 2010, we were only down about 10%. 

Below is my default letter that I send out to new people.. You've probably read it if you look at my posts, but it gives a good description of who I am and what I offer, so excuse the form letter factor.. haha I type it out so much I figured it was better to centralize the response.. haha

Every week I get 1-3 calls from investors who have been taken advantage of here in Indianapolis. I feel like people need options when looking at Indy real estate investing.. Even if they just need a second set of eyes on a deal they are looking at, I want them to hit me up.. Happy to help!

I work in Indy. I am a licensed managing broker, own a property management company, and primarily only work with investors(foreign and domestic). I not only manage properties, but I am also an investor myself. I have been flipping homes since 1991 and have owned rentals since 2007.

We can help you with purchase, any level of rehab, property management and sales. It's your money, so I don't mind if you just want to use us for 1 piece of the puzzle, or just a second set of eyes to look at a situation and answer a quick question. Happy to help!

Couple of secondary services we offer:
1. Video services $100 - We will go out to your property and HD film(1080p/60fps) a property for you and point out any issues we see with the property. Great for the out of state owner that needs to know where he is with his properties or wants to review before purchase. I am not an inspector, nor will I debate with your contractor/tenants, but I will point things out as I see them.

2. $5 comparative market analysis - You give me the address, and I will pull up Active, pending, sold over the past year and leases within past 2 years. Quarter mile radius or neighborhood. You will get spreadsheet view, map view, individual listings, and all of the pictures for those listings.

3. $10 a month I have a person who screens out properties that are listed every day looking for listings that are 70% below assessed values. You will get an email daily, and if you are interested we will go take a look at it for you. - We do require that if you get a lead from us that you will use us as the agent to purchase said property.