Forest Manor area of Indianapolis Good?

[Jami Vincent]

I'm in socal and would like to start investing in Indianapolis. Does anyone guide me if the Forest Manor area of Indianapolis IN is good area to buy in? I'm not interested in a major fixer - buying in the 53K range.

Any guidance would be appreciated.

Thanks!

[Ross Denman]

Is ok at best. If you are in a $53k range, this is certainly a doable area. Crime has dropped in the area and there is some investment activity. Most of the homes are rentals, so there's very little retail activity here. This means that if you plan to sell in the future, it will probably not be worth much more than you purchased it for. The two-bedroom homes rent for $650-700 and the three-bedroom homes rent for $700-750. The tenant demographic is very blue collar, paycheck to paycheck. With the age of the homes, you are likely going to have frequent maintenance and expensive re-conditionings between tenants (remove trash, deep clean, paint, carpet, etc.) If you are looking to finance out, make sure that you have a property that will appraise at or higher than $50k as that is a typical minimum for a loan.