What is your Indianapolis cash flow property criteria?

[George Broderick]

I am new to the market, but see a lot of potential for my self.

I was curious for people already invested, what is your criteria for a cash flowing property here?

Specifically interested in 1-4 units, but also single family.

What areas are no good, which areas are?

What is the purchase price/repair price you look for for the most cash flow as a general rule?

What is the expected rent on said property?

What % of rent goes to short and long term repairs on said properties?

What type of tenants are you getting in these properties and what issues do you face with them?

What type of things make a property a "NO" for you?

Is there anything for a investor from florida to watch out for? I know I have 0 experience with furnaces or most

of the type of properties I am looking at.

I am extremely interested in networking with this forum and branching out into the market this year.

[Mike D'Arrigo]

@George Broderick The most important criteria is to buy in the right area. Any other mistake you might make can be fixed but you can't move a property out of the hood. I would never recommend that a new, out of state investor buy cheap properties in very low income areas. I agree totally with @Ross Denman. Buy the best class of property that you can afford and if you don't have the capital to buy at least a strong C class, then wait and save more money. I'd also be very cautious of MF in Indianapolis. Most are located in old, rough areas. We've been active in Indy for nearly 10 years and can count on 1 hand how many MF's we've done in that time. You've asked a lot of good questions but the answers will depend on a lot of variables. I'd be happy to chat with you if you want to reach out.