All Forum Posts by: Erin Donlan

Welcome @Israel R.! You've picked a great location to start in. Single family is a great way to go since that's what most buyers and renters here want.

Best of luck on the new property! Greenwood is a solid place to start. I'm an agent here in Indy and if I can be of any help with other questions about the area, let me know!

Hi Ming! Welcome to BP. I think the question you pose has an easy answer - it's all up to you and your level of risk. Without generalizing too much, the properties in the OK areas typically have lower rents which leaves you open for more vacancies/transient tenants, which can affect overall ROI. Obviously this can be helped with a great property manager here in Indy (there are quite a few around this site!), who can throughly screen your tenants for you. Greenwood and like areas tend to lend to higher rents and a more consistent paying tenant base. There are exceptions to both rules obviously, but that's the basic rule of thumb I've found.

The biggest piece of advice is to get someone who knows the market and do your due diligence on any property you're thinking of purchasing. I'm a agent in the area and happy to answer any questions you have on any specific properties. Hope this helps!

Hi @Jeff Springer! I'm a realtor in Indianapolis, and I will say that in my experience Indy is a predominately SFH market - meaning that's what most people are looking for in the area - both renters and buyers. Like @Chris Ramos said - a lot of the duplexes you'll see on the market are in the less desirable areas of town, hence the reduced price and increased inventory. That's not to say there aren't a few duplexes scattered around in the more desirable areas (Fountain Square and Bates Hendricks, for example). Ultimately, it really depends on the area the duplex is located in and what your risk tolerance is.

I'm happy to answer any questions about any specific properties you have in mind. I'll PM you my contact info.

Glad we could help @Allende Hernandez! Keep in mind with it being a 4plex, each unit then is running about $540/unit/mo. I'd be interested to see what their vacancy rate is. It might not seem a big deal since you won't be dealing with the tenants directly, but you'll want to be sure you have good paying tenants without a lot of turnover. 

Have you looked up the crime stats in the area? I also find Trulia can be helpful with their neighborhood map. Just because there are higher comps in the area doesn't mean it's necessarily a good neighborhood. Indy can vary street to street. You really need to make sure of the area before moving ahead.

Keep us in the loop on what you decide to do!

I'd be in. There are a ton of good restaurants downtown around the Convention Center (since I see you're going to be there for GenCon). There's a PDF of all the restaurants on the Indy Convention Center site: https://www.icclos.com/pdf/DTRestaurantsMap.pdf 

Since that's a Wednesday, I don't imagine any of the places would be particularly crowded. Probably the ones closer to the Convention Center will be due to GenCon arrivees. Luckily Downtown is very walkable!

Generally speaking, it's best to start around areas you know. When talking about Indianapolis specifically, I would hesitate to generalize an area based on zip code alone. The area you talk about extends from the center of the city southwest-ward, so, a lot of different areas and properties. If you want to provide the address, I can give you a better recommendation of the area. You have pockets of good and bad, especially as you get closer to downtown.

Also, seconding what Bob said above - be sure to be looking for cash flow instead of appreciation with this deal, because we don't get much appreciation here. The good side is that the prices usually stay pretty stable, so we don't feel the effects as much from downturns in the market.

Hope this helps!

Welcome to Indiana @Account Closed! I just dropped you a note as well. Looking forward to speaking with you!

inventory across the board is down right now in Indianapolis, except in areas that I wouldn't suggest investing in. Depending on your budget, there's opportunity to be had, but be prepared to move quickly and decisively when you find a property. 

I think that you have a lot of good info in this thread already, but I think you can see how things can very greatly from neighborhood to neighborhood (even street to street) in the areas you're targeting. A lot of what Patrick just posted is spot on. If you have the time and resources, I would suggest coming out to view the area you're looking to invest in so you can get a good feel. At the very least, be sure to connect with someone on the ground who knows the area and can give you a detailed report of the specific property before you go ahead invest.

Hi @James Dishongh! First off, welcome to Indy! I'm sure you and your fiancée will have a great time while you're here. I'm another Indianapolis realtor/investor and and second and third what everyone has said - investing in Indy can be tricky, but it all depends on what you're looking for. I think that's one of the best things about the city - it's got something for everyone, even when it comes to investing!

I'm actually going to be over near the Butler campus on Saturday afternoon if you're still looking for someone to provide some context on that side of the city. I'd be happy to meet up and answer any questions you have.  Again, welcome and happy hunting!