New member investing in Indianapolis (from San Francisco)

[Craig Micon]

Hi BP,

I'm a new investor from San Francisco looking to invest in Indianapolis. I was born and raised right outside of Indy in Carmel. I'm currently looking for my first property (buy and hold rental). Long term, I'd like to use buy and hold rentals to build up passive income.

I'd love to connect with investors from Indy to learn more about neighborhoods, the market, and which partners you prefer to work with (e.g., PM, lenders, wholesalers).

Thanks to all of the more experienced folks who post. I've been lurking on BP for the past couple months, and it's been an incredible tool for learning because of you!

[Michael Lee]

Hello and wme to BP!  I just watched a webinar by Mack turnkey investments that were doing Indianapolis properties at that time and spoke very well about that city.  I think your choice is a good one and has much potential.  The builder that they met with does homes that are in all of the price ranges.  By the way, I am 60 years old and have my share of opinions on this website.  I am from Dallas Texas and learned a lot of things in the business companies.  I still live in Dallas County and have learned about my share of things.  Since I turned 17 I have been in the construction business.  I also had a real estate broker license and kept it active for about 30 years but never did that full time.

Just take action as soon as you have learned enough.  I believe in companies that do turnkey properties and manage them for you.  Since I had a brain annurism and a stroke almost 6 years ago and still cannot walk but I am exercising and am planning on walking again.  Whatever you invest in do research that will make you comfortable.  Keep it simple and know that making mistakes and fear are pretty normal.  One thing I hear a bunch is to just take action as soon as you can.  I found this site about 18 months ago and still have decided what to do.

I am lucky that I have a wife who has been saving money for about 25 years.  One thing that you should be aware of, if you are allready, is that prices right now are high and it is a buyer's market and because it is you do not have to hurry into investing.  We do not know what the future holds so you have to be prepared for whatever happens.  Just get into things or experienced well.  Do not listen from those that have not done whar they are talking down.  Remember that real estate is a long term thing in real estate so do not be surprised when the future brings things that you do not expect.  When I had my problem just two days before I was scheduled for brain surgery I had that brain aneurism even though I got good words from my doctor.

You can start the real estate investments on a part time basis and be successful.  I have been reading a book lately that you need to be learned before you earn and that most rich people failed before they made it.  So do not let failures make you quit. Just keep on going.  He said also, that leads are important even though you might not think you need them. I was listening to a podcast replay this morning and the guy said that knowledge was power and I beleive in that very much.  Keep it simple and do things that have been sucessful before.  Learn how to listen more and quit talking too much.

Good luck to you!