Corona, CA · Member since 2016 · 56 posts · 24 votes
Fellow Investors,
I'm reaching out to any investors that have intimate knowledge of the Anderson area. I've read many posts that date back a few years that didn't sound too promising, but some semi-recent ones sounded like it was on the rebound. Before I start looking for a team, does anything have any thoughts on the area?
I've bought in a small town before and as the economy slowed, the rents dipped and I've very cautious now.
Any advice or recommendations would be greatly appreciated! Thanks
Rental Property Investor · Indianapolis, IN · Member since 2018 · 4k+ posts · 4k+ votes
5y
@Jeff Stansberry Anderson, IN - the city that everyone drives past. I grew up in Indiana and lived in various cities including Kokomo, Greentown, Muncie, Columbus, and now Indianapolis. My opinion of Anderson is blahhhh. It's got nothing going for it. The only places of interest are Mounds State Park, the Hoosier Park Casino, and the Anderson Speedway. Some people commute over an hour to work in other cities including a few coworkers in my office. I'm sure you'll find some good deals in Anderson but as a local it doesn't get me excited.
Muncie has the college town vibes and student rental opportunities, Kokomo has high paying manufacturing jobs, and Indy has a mix of everything including Amazon distribution, pharmaceutical, government, corporate headquarters, and the list goes on. I'd rather pay more and invest closer to big money than further away.
Rental Property Investor · Indianapolis, IN · Member since 2018 · 4k+ posts · 4k+ votes
5y
@Jeff Stansberry Anderson, IN - the city that everyone drives past. I grew up in Indiana and lived in various cities including Kokomo, Greentown, Muncie, Columbus, and now Indianapolis. My opinion of Anderson is blahhhh. It's got nothing going for it. The only places of interest are Mounds State Park, the Hoosier Park Casino, and the Anderson Speedway. Some people commute over an hour to work in other cities including a few coworkers in my office. I'm sure you'll find some good deals in Anderson but as a local it doesn't get me excited.
Muncie has the college town vibes and student rental opportunities, Kokomo has high paying manufacturing jobs, and Indy has a mix of everything including Amazon distribution, pharmaceutical, government, corporate headquarters, and the list goes on. I'd rather pay more and invest closer to big money than further away.
Investor · Los Angeles · Member since 2019 · 22 posts · 10 votes
5y
I have a triplex in Anderson IN and it’s one of my best performing properties in regards to cash flow. However I focus on subsidized low income housing. We have a great property management team and we never have any problems. We are planning on buying more property out there as soon as we are more liquid.
Corona, CA · Member since 2016 · 56 posts · 24 votes
5y
@Sara Aviles Would you mind sharing your PM details with me so I could reach out for more information regarding the area?
@Jaron Walling I really appreciate the local point of view regarding Anderson. Do you invest in any of the areas that you mentioned? Do you have any opinion of the Fort Wayne or Layfayette areas?
Investor · Los Angeles · Member since 2019 · 22 posts · 10 votes
5y
@Jeff Stansberry
They will help with light rehabs, like to turn a unit but not beyond that. Most the properties I buy have tenants in them.
They will give feedback on the streets when asked but I mainly get the blanket response “ all Anderson is good” which is not helpful lol.
I would recommend talking to a local agent in the area. I have seen a zip code map done for Muncie which is another area I invest close to Anderson but nothing for Anderson yet.
Most the better properties are near the university in Anderson but the prices also go up exponentially. I don’t personally own near the university as I am ok with higher risk properties if the return makes sense.
Realtor · Indianapolis IN · Member since 2018 · 464 posts · 339 votes
5y
I am local as well and have a similar feeling to Jaron about Anderson - in the past, one of the big manufacturing plants closed and with no jobs, people left the area. However, I had a conversation with someone who is working remotely (living in Anderson) and she said there are several people she knows who work downtown Indy are moving to the area because costs are lower and they are working remotely and don't have to commute every day. I personally probably wouldn't invest there, but it is interesting.
Lafayette is growing with not only Purdue but several strong manufacturing centers in the area.
Ft Wayne is intersting - I grew up there and see a lot of growth every time I visit family.
(I can speak Indianapolis if you are interested there) :)
Rental Property Investor · Carmel, IN · Member since 2016 · 1k+ posts · 615 votes
5y
Hi Jeff, I am from Indy. I started my real estate journey here and I must say this market is good. Now, I have more than 100 doors. I would love to help and chat you further if you're interested.
Hi Jeff, I am from Indy. I started my real estate journey here and I must say this market is good. Now, I have more than 100 doors. I would love to help and chat you further if you're interested.
Hello, I am interested investing in Indiana I would to chat if you have time.
Rental Property Investor · Indianapolis, IN · Member since 2018 · 4k+ posts · 4k+ votes
3y
@Jeff Stansberry I feel bad about my previous response about Anderson. It was a bit harsh. I don't know if you ever purchased a property in that city. We're bias on the mid west so if you're cash-flowing you can't go wrong. We don't invest outside of Indy at this time. Considering areas south of Indy as the north side is out of our price range. The growth here out ways other Indiana cities.
The original post is 2 years old. Not much has changed in Anderson. Lots of development has happened in Indy. The near east side neighborhoods are exploding (mostly flips), BRip is the new Carmel, Hancock County, Noblesville, and Greenwood are attractive, new soccer stadium in the works, Elanco headquarters downtown, and justice center completed.
Hi Jeff, I am from Indy. I started my real estate journey here and I must say this market is good. Now, I have more than 100 doors. I would love to help and chat you further if you're interested.
Hello, I am interested investing in Indiana I would to chat if you have time.
Great - feel free to DM and will book a 1:1 with you!