Indianapolis - Great Places 2020

[Jules Haddix]

Hello, new to the forum. 

I am considering investing in some cheap real estate, buying and holding for a few years. I'll be renting in the interim. My question though relates to the so-called "Great Places 2020" neighborhoods. Do the local experts think these are good areas to buy in with the expectation that the value will increase a great deal in the next 5-10 years? 

I am particularly interested in the Englewood Village great place on the near east side, I get the feeling I can safely rent a 3/1 for $750 on what looks to be the most stable block, Dearborn Street. With some of the improvements happening on East Washington Street, this seems like a low-cost place to get my feet wet. My long term goal is to branch out once I get enough cash from some of my Englewood Village properties. 

Anyone think this is a good area to invest, or am I about to make the biggest mistake of my life?

Thanks.