All Forum Posts by: Erin Donlan

@Jonathan Warner I would say they are changing, but it's not rapid. 38th and Illinois has been targeted for improvement and I think they put some money into Tarkington Park there. I do know the values of the properties in that area is higher than it was even a few years ago, but that's pretty much the case any place in Indy.

Hope that helps!

Hi @Bailey Mason! I sent you a colleague request but it wouldn't be let me add a message - technology! I'm happy to set up a time to speak with you further regarding your investment goals here in Indy.

Hi @David Rutledge, what @Brian Masterson is pretty spot on for Indy right now - anything under $60K (on market anyway) is need in need of some serious work or is in a pretty rough area, sometimes both. You may want to look at working with wholesalers in the area (we have a quite a few), but I don't often see multifamily come up in their inventory. You may also want to branch out to areas close, but not in Indy - Muncie comes to mind. College town, so you're not short of possible tenants. I've only talked to one person investing there, though, and he lives there, so there may be some additional challenges for an out of state investor - property management being one.

Sorry I don't have better news! Happy to help you if you're wanting to see what's available on market in the area.

Foreclosures aren't as plentiful on the market as they used to be. These days they mostly end up on auction sites (hubzu, for example). Especially in good markets (like Fishers) banks have been holding onto their inventory and renting them out. How long that will last is anyone's guess, as that's not their business model.

Instead of focusing solely on foreclosures, I would suggest looking for motivated sellers, either by direct mail or working through the MLS with an agent. You can also reach out to wholesalers and get on their mailing lists - there are more than a few that focus on the Indianapolis area. I think everyone is running up against the same issue of low inventory, so there is a lot of competition for not a lot of properties, but there are still deals to be had. You have to move quick, though.

I'm an agent and investor here in Indy, so if there's anything I can do to assist you in your efforts, let me know!

I tend to answer these questions with more questions, and this time is no different. If you were to sell, what would you do with the profits? Are you able to pick up one (or, ideally, two or more) properties that would match or better the same kind of returns that your current rental is getting? Like you said, it's a hot market - which is great if you're selling, but can be difficult when you're looking to buy.

Also, could you do a cash out refi? That will give you the cash (granted, not as much as selling the property) to put toward other properties. 

If anything Fishers isn't going anywhere, so even if you were to hold out, it would take something massively unforeseen to shake that market.  

It is customary to provide a refrigerator, stove, and dishwasher (provided there is a space for it). You might want to check out Big Jon's (http://www.bigjonsusedappliances.com/) for one to pick up on the cheap.

Hi @Brandon Turner, please send his info my way as well. Always looking for extra help! Thank you!

Personally, if we're talking about rental properties, I'd focus on Pike, Washington, and Lawrence townships. Those are the areas I find the best bang for your buck (higher rents, lower purchase prices). Deals can be found in Perry township and Greenwood as well, but I find the rents are usually lower there than in the townships mentioned above. There are some good pockets downtown as well as mentioned. I'd also throw in Mapleton-Fall Creek area to the list already given, as well. Ultimately, it depends on what kind of property you're looking for as well. If you're looking at multifamily, you're almost exclusively going to be downtown. We're primarily as single family market, so if that's what you're going to invest in, you'll probably be able to find a good rental property no matter what side of the city you look in.

Hope that helps!

Hi @Devonta Taylor! Congratulations on making the decision to becoming an agent. Be advised however, they are just going to teach you what you need to know to pass the licencing exam. They're not going to help you network or partner with investors. Obviously, if you're not really familiar with how real estate transactions happen, getting your license will give you a lot more familiarity with the process and indeed help your comfort level when talking to other real estate professionals.

The biggest thing you need to do is meet people, and other investors, if you're wanting to work with them. That's not usually done in the classroom. I would suggest checking out the monthly meetings at CIREIA and INREIA as that's where you can meet the contact you're looking. Being active here on BP helps as well.

Feel free to reach out with any questions! I went through the Tucker School as well, and they're great. 

Welcome @Dan Johnson to BP and Indy! Hope your move is a good one and if you need any help or advice, don't hesitate to reach out. I'm an agent and lifelong Indianapolis resident, so happy to help if I can!