I'm a newbie out of state investor interested in Indianapolis real estate and I'm trying to figure out which neighborhoods/areas would best fit my investment strategy.
I would be looking for up to $130k-$140k ARV single family homes in need of some renovation (but not a total gut), that I'd like to be able to rent it out (to a normal, quality tenant) for approx $900-$1k.
I had already done some research, but would love to hear what the professionals on here think. These are some areas I considered:
46222 - Hawthorne, Haughville
46208 - Crown hill and general area surrounding the children's museum
Residential Real Estate Broker · Indianapolis, IN · Member since 2016 · 42 posts · 14 votes
5y
@Dana Zipnik
Hi Dana, I think a lot will depend on how you will be acquiring these properties and what grade of rental area you're looking for. I'd personally target the Western and Southern townships and any of the donut counties. You'd be looking for older ranches on slabs (maybe some crawls) with 3 bed and 1+ baths. I could help pinpoint more later if you'd like to connect.