All Forum Posts by: Aaron Singer

Hi @Christopher Owens,

I haven't read through all the comments here, but I'm sure the Midwest markets have been highlighted. I currently invest in Indianapolis - strong REI market, but especially for cashflow. Note that much of Indianapolis is neighborhood by neighborhood and often street by street. I can't speak much about the other Midwest markets.

As a general rule, utilize the 1% rent/price ratio rule when analyzing markets and deals, and that should tell you which markets/areas have strong cashflow. Just be weary of anything approaching 2%.

Happy to discuss further, especially if you're interested in Indy.

Aaron

Hi Kevin - solid game plan and strategy! I live in Phoenix, but chose to invest in Indianapolis for several reasons; namely the low entry point and multitude of cash flowing properties. I have 1 property, but looking to acquire another 1-2 in 2021 (also considering BRRRR).

Definitely checkout the Indy Investor Pod if you haven’t already. Loads of valuable information there. 

@Harvey Levin is the man to speak to about these things. I can share my experience as well having just taken over a Section 8 tenant in the 38th/Emerson area. Certainly can be a bumpy ride.

Coordination with IHA and/or your PM is key. Feel free to PM me for more details on my specific situation.

Good luck!

Aaron

Welcome to Indy REI @Christian Van Dinther. BP is solid, but definitely check out the Out of State Investing Facebook group to get more acquainted locally. PM me if you want to chat. I’m a newer investor with a buy/hold strategy in Indy.

Good luck!

Agreed with most of what's been said - inventory is low in most markets, Indy included. This drives up prices. If you're looking for smokin' deals on the MLS, you might be dissapointed!

I'm curious, what metrics would you offer to validate that a market is over bought? 

Aaron

Great choice to look at Indy - superb for cash flow and the municipalities are investing heavily in the areas near downtown. I just completed my first deal - a SFR. I'm happy to share my experience, albeit somewhat limited.

-Aaron

Calling all Indy based lenders! I'm in escrow on my first RE property - a SFR on the Northeast side. Any lenders out there that are offering conventional rates close to or under 5% for a 30 yr fixed? I'm not looking to rehab nor am I looking for a HML. Thanks!

@Martin Tam welcome and best of luck! Indy investor pod has a goldmine of info.

OOS Investor here also looking at the Indy market. Agree with everything that’s been said here. Neighborhoods can be tricky in Indy. It’s really street by street especially in the near east side and c/c- areas. Search on BP for Indianapolis and you should be able to find Sterling White’s neighborhood breakdown. A couple years old but still very relevant from what I hear. Getting an agent that also invests is key as well as strong property management. They should be able to steer you away from the war zones. PM me if you want to chat more about your search. 

@Ralph Patulot welcome! I am new to REI and seeking Indy SFRs. As others have stated, building your team and having "boots on the ground" in Indianapolis is so important. I am out of state as well, but OOS gets less and less scary the more you educate yourself.