Indianapolis multi-families in a safe area

[Jessamyn Smith]

Hi!  I've been hoping to simultaneously find a place to live (right now we're living with parents in Illinois) and acquire a rental property.  So we're looking at small multi family homes (preferably 3 or 4 plex).  I have not had much luck finding something within these parameters in or near Indy.  I have been looking in west Indy, Avon, Brownsburg, Plainfield, Speedway types of communities, but there are very few of these property types in these neighborhoods!  Does anyone know of any other areas in or near Indy that would be safe to live and great to invest in?  Not interested in Lafayette or Lebanon.  Is Crawfordsville a decent place to invest? 

[Josh C.]

Avon, Brownsburg, Plainfield etc are great if you care about school systems. But lots of good neighborhoods closer to downtown Indianapolis that make great rentals and great places to live. Now depends on your budget, but Holy cross, Herron Morton, Fountain Square, Bates Hendricks, King Kennedy are all great areas to live. (more expensive, but higher rents) I have places in Holy Cross and Herron Morton with great success. Especially, with owner occ FHA type financing it's a great long term play without all the low rent tenant drama. Something in the 300K range with 3K rents does cashflow well when self managed.