@Lisa Rappleyea send me a message with details on what you are looking for. Will be glad to assist in any way that I can. If your needs are outside of my area of experience I can certainly introduce you to the appropriate contacts.
You could start by getting on @Ben G. and @Shawn Holsapple's buyer's lists. They could help steer you toward good buy and hold areas in town. Let me know if you have questions about specific addresses or neighborhoods. Good luck!
I'm sure I can help you find what you are looking for. I do over 150 wholesale transaction annually, am a broker & landlord as well. I specialize in out of State/Country investors as yourself as well.
My contact info is in my profile - feel to call or email with any questions.
@Lisa Rappleyea I own property in NW Indiana, but not Indy. However, I have heard really good things about FS Houses in Indy, @Ryan Mullin. You might want to talk to them.
Welcome @Lisa Rappleyea BP is an amazing place with tons of potential. A lot of people are going to offer you help and 99.99% of them legitimately want to help you and will spend hours of their own time supporting you.
If you have any questions feel free to ping me. I started investing this last year in Indy from California and have had really great experiences.
Are there any areas that actually have rent growth and appreciation?
Yes Bob, actually we have been through this exact conversation before.
But... For the benefit of original poster @Lisa Rappleyea I will toss out a few neighborhoods to look into.. that have and will have rent growth and appreciation.
General downtown areas like Herron Morton, Fall Creek Place, Mapleton Fall Creek, Fountain Square and Fletcher place.
Outside of 465 Loop small towns like Greenwood, Southport, Avon, Brownsburg, Cumberland, Greenfield etc..
Broad Ripple and close by areas like Meridian Kessler and Sobro.
Also... Just wanted to point out that the initial link that Bob posted was statistics for apartment rentals. And most Indy folks (I think would) agree that SFH is the way to go to start out.
If I put in cheap $2,00 laminate it will take ALL my rent for almost SIX months without considering installation!
Are there any areas that actually have rent growth and appreciation?
Lol....Bob, I haven't been on here for a few months, but looks like you have kept at it.
As we've talked before, a lot what you say is true. I personally don't buy an Indy rental that rents under $800....actually am currently trending more towards the $900 to $1k min range....and I self manage. Anyone out of state trying to buy sub $750 rentals, and have them managed, is not going to make money. That's almost a sure thing, unless you hit a hot, appreciating area.
If I put in cheap $2,00 laminate it will take ALL my rent for almost SIX months without considering installation!
Are there any areas that actually have rent growth and appreciation?
Lol....Bob, I haven't been on here for a few months, but looks like you have kept at it.
As we've talked before, a lot what you say is true. I personally don't buy an Indy rental that rents under $800....actually am currently trending more towards the $900 to $1k min range....and I self manage. Anyone out of state trying to buy sub $750 rentals, and have them managed, is not going to make money. That's almost a sure thing, unless you hit a hot, appreciating area.
Aloha Rusty, so what's going on with this property?
Over 6 months on the market even with my offer of trading a winter month on Waikiki Gold Coast! I guess if a CA buyer has that much money they buy profitable deals in CA. LOL
Are there any areas that actually have rent growth and appreciation?
Yes Bob, actually we have been through this exact conversation before. But... For the benefit of original poster @Lisa Rappleyea I will toss out a few neighborhoods to look into.. that have and will have rent growth and appreciation.
Best of Luck!
Got any numbers? I'm comparing to 9%+ appreciation and rent growth of 6%+ in CA and Honolulu over 40 years.
If I put in cheap $2,00 laminate it will take ALL my rent for almost SIX months without considering installation!
Are there any areas that actually have rent growth and appreciation?
Lol....Bob, I haven't been on here for a few months, but looks like you have kept at it.
As we've talked before, a lot what you say is true. I personally don't buy an Indy rental that rents under $800....actually am currently trending more towards the $900 to $1k min range....and I self manage. Anyone out of state trying to buy sub $750 rentals, and have them managed, is not going to make money. That's almost a sure thing, unless you hit a hot, appreciating area.
Aloha Rusty, so what's going on with this property?
Over 6 months on the market even with my offer of trading a winter month on Waikiki Gold Coast! I guess if a CA buyer has that much money they buy profitable deals in CA. LOL
I think that property is amazing....but certainly would take a unique buyer. Living in a converted church isn't for everyone, I suppose. Nor is the $950/mo HOA