Indianapolis under $30-50K Market

[Mihir Bhimaraju]

Hey BP!

I saw numerous posts about investing in $30-50k market and I was wondering what's the situation for this market in and around Indianapolis. I live on the south side close to Greenwood - which is a great market in itself.

I bought my first, primary home last year after clearing a bunch of college loans ( woohoo!) . While I'm saving up, I'm thinking about getting familiar with the 30-50k market.

Any thoughts?

Cheers!

[Shawn Holsapple]

I always recommend new Indy investors to start out with post war built [1945-up] homes that rent for $700-up.  This will usually keep you out of the war zones and in decent working class areas.

These homes can be had [even though its getting tougher] for under $50k rent ready if you do some or most of the work yourself.

Of course there are variables up and down the scale and I know landlords that thrive in the lower end realm, as mentioned above.

I live in Greenwood as well & I don't think you will find ANY livable home here for under $70k.

That doesn't mean that you can't go to a nice Indianapolis suburb and find something that is a good investment.  Places like Eagledale, Beechgrove & Lawrence would be good places to start looking - IMHO.

- it's always good to see another Hoosier utilizing this great site!

Of course, you need to read The Ultimate Beginners Guide to REI here on BP

If you haven’t already, please read/listen to these books ASAP!

Flip2freedom episode 77http://www.flip2freedom.com/a-3-step-formula-to-a-successful-balanced-and-insanely-profitable-2012/ - LISTEN TO THIS TODAY!

Rich Dad Poor Dad

Rich Dads Cash Flow Quadrant

Rich Dads Increase your financial IQ

The Real Book of Real Estate

The ABC’s of RE Investing

The ABC’s of PM

Rich Dad RE Tax Advantages

The 10X Rule

The E-Myth

The 4 Hour Work Week

BiggerPocketsPodCast -I hear #136 is exceptional!

Wholesaling101 You Tube Channel

Kent Clothier – You Tube Memphs Invest channel