Starting this week in central Indiana

[Chance Schrettenbrunner]

On monday, I am going to get my pre approval started (VA home loan) I am planning to do $0 down, live in it a year, then make it a rental. Very anxious, but excited to get into it. I am researching Indianapolis, Fishers, Noblesville, Whiteland, Franklin, Greenwood, Castleton, Southport, but when looking at medium price of homes vs medium rent theres no cashflow at all it seems. Any tips for this?? Appreicate it!! And if anyone is in the central indiana area and wants to start a connection, I would love to start some new relationships with fellow BP members! :)

[Patrick Gilbert]

Hey Chance, I’m also just getting started investing in Indianapolis and have found myself in a similar dilemma. The main issue it seems is that home prices have outpaced rent in the last couple of years so there just isn’t a lot of cash flow right now. Now, if you really look you can still find properties that can cash flow, it is just much more difficult than it was 1-5 years ago from what I’ve learned. Now with that said, if you plan to occupy this property for a year then rent it out, it does appear rents will continue to climb pretty swiftly so it is possibly by the time you are ready to rent it out you may be able to cash flow. On the other side of things, you can also look into buying a 2-4 unit property to house hack and live in one unit then rent the rest. This is kind of the best of both worlds if you’re just getting started. Hope this helps!