New Investor Indianapolis

[Erwin Perez]

Hello everyone,

This is Erwin Perez. I live in South Indy and I will begin my REI journey! The strategy that I want to start with is BRRRR. I would love to talk with some pros about renting and neighborhoods in Indianapolis. I have experience in the construction industry as a Project Manager, and currently, I work for a medium-size GC. I want to talk with Property Managers and Agents to start creating a rockstar team!

After reading 8 books about REI, it is time to start doing something! Any advice to this rookie will be appreciated.

[Ariel Hernandez]

Welcome To Biggerpockets Community @Erwin Perez

My two brothers live in Greenwood and I come to Indy very often. I have a few doors, Airbnb and STR In Indy, one of them on the Southport Area

The fact you have a construction background I believe is a great advantage in the BRRRR strategy. The only "unknown' when getting a property rehabbed, is the final cost and time to get it fixed by the contractor.

Indianapolis like most other markets will get affected by whats happening with this Virus and I think is important to adjust ARV so when comes time to refinance you can successfully take all your initial cash out the property.

I Would also suggest starting with SFH first if they have great numbers, unless a duplex or more units is in a Very desirable block near downtown. Indianapolis has an interesting dynamic, you can rent a single family house for the same or less as an apartment, I usually deal with lots of turn around on my multifamily properties, not on the single family houses.

Feel free to reach out if you have any other specific questions!!