Out of state BRRRR in Indianapolis

[Anthony Britto]

Good afternoon everyone,

I currently live in Rhode Island and just own one 2 family here. The market prices here now are insane and with the interest rates almost unaffordable, so I started looking out of state and my research led me to Indy. I took out a HELOC on this residence for 140K and am looking to use that to maybe buy something I can fix up (not a full rehab) and rent out for some decent cash flow. I wouldn't want to keep the balance on the HELOC for too long which is why I would like to do this strategy to pay it off What attracted me to Indy was the diversity, employment, population growth and is a pretty big metro. Am I in over my head trying to invest this far from me? I never been to Indy but would definitely be visiting first and would not buy sight unseen either. I like multi families but I read they are in the rougher parts of Indy. So I wouldn't mind investing in SFR that make sense to what I'm looking for. I'm trying to build a portfolio and Indy seemed like a great place to start with what I have. Any insight anyone has is greatly appreciated.

Thank you!

[Paul Stamm]

Anthony, I think out of state investing can be a very powerful tool especially when investing in your local market is not really an option. Indianapolis is a great market for what you want to do and you were spot on when you mentioned it being an area with population growth and great employment options. I'd love to share more about what it is like to invest in Indy and connect you with some of my team.