Choosing an out of state property

[Danielle Ronquillo]

Hi! I'm in the market for out-of-state properties. I cannot househack due to family reasons and I like the school district that I live in. Alternatively, I can look into househacking in my neighborhood, but everything is kind of expensive here and I don't have any dilapidated homes to renovate. I'm a new investor and I also try to stay away from any investment that requires major renovations at this time.

I have been looking into getting an investment property in Indiana, but undecided between Indianapolis and Fort Wayne. I searched through BiggerPockets "Find Markets" tab and the blogs but haven't found any info yet. Does anyone have any stats about how rentals perform in Fort Wayne and Indianapolis? How are most investors strategizing there (fix and flip or buy and rent)? 

I really want to buy and rent LTR.

[Lindsey Mannix]

Hi Danielle,

I'm originally from Southern IN, near Louisville, KY and have a great agent I work with there for my LTRs there. I'd be happy to connect you with her OR my sister lives in Indy and we have some mutual friends, one that is an agent, that I can connect you with. Let me know and happy to connect! BP also has an agents tab where you can search for an agent in your area that you're looking.

~ Lindsey

[Danielle Ronquillo]

Thanks! I’d be happy to connect with you and your friend!

[Alex Olson]

Of course I am partial to the Kansas City Market. Midwestern markets are great. If you can't find what you are looking for, look for another market. 

[Gloria N Gear]

Hi Danielle,

I live in Indianapolis and grew up near Ft Wayne.  I have 5 rentals currently in Indy and have not had trouble with vacancies on any of them.  I also work with OOS investors and have a list of property managers that you can call and get information from as well.  Would be happy to hop on a call with you.

[Carlos Scarpero]

Dayton, Ohio is also a great market. I have a lot of connections if you need an intro

[Jimmy Lieu]

Quote from @Danielle Ronquillo:

Hi! I'm in the market for out-of-state properties. I cannot househack due to family reasons and I like the school district that I live in. Alternatively, I can look into househacking in my neighborhood, but everything is kind of expensive here and I don't have any dilapidated homes to renovate. I'm a new investor and I also try to stay away from any investment that requires major renovations at this time.

I have been looking into getting an investment property in Indiana, but undecided between Indianapolis and Fort Wayne. I searched through BiggerPockets "Find Markets" tab and the blogs but haven't found any info yet. Does anyone have any stats about how rentals perform in Fort Wayne and Indianapolis? How are most investors strategizing there (fix and flip or buy and rent)? 

I really want to buy and rent LTR.

Hi Danielle! You may want to look into Columbus OH. I actually moved here from Portland OR and purchased my own rentals - all clean BRRRRs and hit the 1% rule. A lot of my out-of-state clients have successfully purchased their own rentals as well at a very cheap price point, around $120k to $180k. Additionally, the rules are also very landlord-friendly so you won't have to worry about evictions taking as long as 12 months because they're very quick here. Happy to connect and answer any questions you have!

[Samuel Diouf]

Hey Danielle, are you strictly looking at those two markets? What has you attracted to these two markets specifically? 

Do you know whether you're looking for appreciation or cash-flow? 

If you are still open to looking at other markets.. Columbus, Ohio could be a great option to consider if you're leaning towards appreciation. I moved here from Florida after seeing the projected growth. Multiple, billion dollar companies are investing heavy in our area, such as Intel, Google, and Amazon. Which will bring plenty of other investors and general business to the area.

[Hayden Steger]

Hi Danielle, 

I put a couple links below that will give you some general data about both markets, and will give you some background on my personal experience with them as well. I grew up on the southwest side of Fort Wayne, which has been experiencing a lot of growth and development over the last 10+ years. I moved to Indianapolis a couple years ago and was surprised to find significantly more growth and development here. To keep things simple for this post, you'll find many more opportunities in the Indy market compared to Ft. Wayne simply due to the fact that it's a much larger city. With that comes much more competition, particularly from larger, more established RE investment companies and funds. Both cities still are much easier to get into compared other markets in California, Texas, or Florida. As long as you have reliable "boots on the ground" such as a property manager or real estate agent that has experience working with out of state investors, you'll significantly increase your chances of acquiring the right property that will generate the returns you're looking for. I'd be happy to give you a more in depth explanation if you want to send me a chat! 

Indianapolis: https://www.rent.com/indiana/indianapolis-apartments/rent-tr...

Fort Wayne: https://www.rent.com/indiana/fort-wayne-apartments/rent-tren...

[Alfath Ahmed]

Quote from @Danielle Ronquillo:

Hi! I'm in the market for out-of-state properties. I cannot househack due to family reasons and I like the school district that I live in. Alternatively, I can look into househacking in my neighborhood, but everything is kind of expensive here and I don't have any dilapidated homes to renovate. I'm a new investor and I also try to stay away from any investment that requires major renovations at this time.

I have been looking into getting an investment property in Indiana, but undecided between Indianapolis and Fort Wayne. I searched through BiggerPockets "Find Markets" tab and the blogs but haven't found any info yet. Does anyone have any stats about how rentals perform in Fort Wayne and Indianapolis? How are most investors strategizing there (fix and flip or buy and rent)? 

I really want to buy and rent LTR.

 I think both areas are great. My mentor actually owns about 900+ units in Indianapolis area. He really likes it. I would explore there. 

[Cameron Fowler]

Hey Danielle! From my experience Indianapolis and the surrounding area is a great place for flips and some rentals. I would love to connect if you are interested in investing the in Indy area. I work with investors on primarily flips