All Forum Posts by: Dave G.

@Ryan Mullin

@Shawn Holsapple

Are these attorneys primarily focused on real estate? 

@Dennis Weber

That is interesting to hear. Very good point about the amount of insured people downtown. It reminds me of why Indy is hesitant to make mass transit available from outsid 465 into the city (besides the shuttle bus from fishers, carmel). 

@Clay Manship

I drove by the property on central and about 23rd recently. It appears to be more than a 4 unit. At least there were more than 4 front doors. How was this considered for FHA financing?

@Makenzie Kelly

They are part of IU Health, which means they have the backing of Indiana University. I'm certain if it ends up being that much, they would have no problem securing the funds. 

@matthew 

@Matthew Schroeder

I drove the length of Capitol from about Kessler all the way down to Zesko (640 Capital) to pick up some kitchen goods after reading that article. I was incredibly impressed with the area north of 40th all the way through Kessler. A lot of nice homes with big yards and intricate decor.

South of 40th and especially around 16th street, it was the complete opposite. Chain link fences, houses with bad paint, cars without wheels. I didn't feel endangered, but i didn't get the feeling that residential development could be supported with rents that are existing in that area. I think the IBJ really oversold the potential boon to the area.

But, that being said, state of the art Hospital Facilities facilities matched with the Indiana University Health System could bring a lot more people into the area. This combined with the other redevopment we are seeing on 16th St further east from Delaware -> as far as Park could offer potential in that 5 - 10 year time frame you mentioned.

Maybe I would buy if I were a hedge fund. 

I thought you said that it was already zoned for a 4-plex. Were you entertaining the idea of higher density? 

Any idea why the previous owner didn't go through with it? How are you going to design the outside? This is probably more costs, but if this going to be the first bit of development in this area, you may want to reach out to an architect to design the facade. It may add some value if it has higher curb appeal. 

 That review of the area reads very poorly. "Did you know... highest concentration of people with african decent live here... it's 2.8%!" That just seems incorrect, as if it was written by a bot with city-data as its source. I would tread carefully taking that as gospel. Hold out for a few opinions of people on here. I've never been over there, sorry. 

 It depends which neighborhood you are looking at. 

This shows the neighborhoods: http://maps.indy.gov/MyNeighborhood/

The area I think you are interested in is flanked by Meadows on the north, Mapleton - Fall Creek on the west, and Martindale - Brightwood on the south. 

By using that link, you can get official info about the Neighborhoods. It looks like the one for Mapleton - Fall Creek is www.unecdc.org. Some sort of unified economic corp... probably a lot of undesirable areas banded together because there wasnt enough interest in the one specific neighborhood. Best of luck.

@Clay Manship

This movie needs an ending, Clay. Your last post stated you aren't doing 203k anymore. Anymore you are willing to put in this diary?

Coming from the finance world there is a level of return associated with every level of risk. They go up in lock step. There are only a few things that can change this, and one of them being insider information. Obviously, It effectively reduces your risk in the unknown. This is illegal in the finance world, but thankfully isnt in Real Estate Investing. 

I'm fairly certain an investor or two made a killing on the regentrification of certain areas of Indy by knowing info first; spotting a trend; sitting in on a neighborhood meeting. 

So essentially, if you disqualified this area of Indy then its back to the books. I think all of the neighborhood associations publish minutes. The IndyStar has political news on regentrifications of neighborhoods. 

Sorry if this is more of an answer than you wanted, but getting more reward for a given level of risk absent of luck or extreme due diligence isn't in the cards. 

Indianapolis is my keyword. I'm nit sure if typing it will set it off for me. Please type it if you are willing.