New to Real Estate Investing - Interested in purchasing a buy and flip property in Indianapolis or Noblesville

[Ethan Simcox]

This is my first post on the Deep Pockets forum.  I really like the podcast, so I thought I'd reach out on the forums.  I'm here to expand my local network, learn from other members, and gain tips for real estate investing.

I'm interested in starting out by flipping rehabbed homes to build cash flow and then would like to move on to purchasing Multi Family Units.  

I would like to purchase my first buy and flip property this year, but I need to gain a better knowledge of the Noblesville and Indianapolis markets which are my desired areas. 

[Rusty Scott]

It can certainly be done....but the nature of our market isn't great for flipping, in my opinion. You will really have to work to find one that makes sense, particularly just a cosmetic rehab.

The flips I'm seeing that are most workable are ones where you have a very large rehab budget....there is a lot of activity in Indy near my home....but we're talking old homes that are taken down to the studs, additions, floor plan changes....practically new homes being built. And you are competing with guys that have years of custom building experience.

Finding a flip in Hamilton county is going to take a lot of digging, to find the traditional 70% ARV formula, and reselling to a retail buyer. Not saying you can't do it...but be prepared to be patient....it may take you months to find one.

I personally prefer rehab and rent in our market. Also beware and diligent of MFH in Indy....but that's a different subject.

Feel free to reach out to me about anything. I started in your same position and mindset about 11 years ago. Good luck and welcome.