All Forum Posts by: Jean Zipagan

@Davis Doan 

Rentometer: As a starting point for doing research in Indy but also other areas is rentometer or hotpads/Zillow rentals. As you practice and analyze deals, get an idea on what the rent ranges are like in the class A/B/C/D. 

Trulia: The crime map on Trulia is also a handy reference but not always the most accurate since there are a couple blocks that are class B adjacent to some solid C/Ds. I take it with a grain of salt. 

Airbnb: Another fun way I've also tried are scouting the city on Airbnb. Class A/B areas are the more popular places for Airbnb's and their prices should reflect that. 

Google map: The street views quickly get outdated so don't rely on those entirely, but getting an idea on what businesses are around and the quality of schools in the area is helpful. 

For Indy in particular, it can be tricky to find a turnkey ready 3br 2Ba and still cash flow significantly (though I think there are still plenty of areas where a BRRRR would work nicely). Areas outside of Indy 465 loop like Beech Grove/Franklin township/Greenwood, etc. can be a safer bet and often still have a good amount of 3B2Ba. Within Indy city proper, I've found 3b 1ba more popular of a layout. I would suggest not limiting your search with the 2ba. 

At the end of the day, you'll probably need a local kickass realtor to give you the real lowdown once you've narrowed down your target cities. 

@Allison Winston - Welcome! I'm new to BP myself but have already benefited from all the podcasts and advice from these forums. You guys looking into any neighbourhood in particular yet? 

I like Brandon’s take on it: https://www.biggerpockets.com/blog/2015-12-09-class-a-b-c-d-real-estate

As people have mentioned many times here, Indy varies street by street and is rapidly gentrifying. For my own research, I cross reference Trulia’s crime map as well as Zillow or Rentometer to check prices of rentals. Class A/B rents are over $900 or so. Some class C/Ds (rents closer to 500/600) are transitioning over to low B’s such as pockets in the Near Eastside. 

@Jaron Walling, I definitely did! I checked out a house across the street from it a week ago, as well as the slightly rougher neighborhood a few streets away. This first property is more of a luxury house hack and leveraging appreciation in that area ($500K+ houses in that neighborhood). Still need to get my significant other on board with my REI plans...but I am definitely shooting for a BRRRR/something a little more cash flowing next.

I live an hour away from the house in Indy I just got under contract on my first home. I spent over 5hrs one Sunday trying to learn about the different areas, driving by 32 properties I had bookmarked on Zillow and was surprised at how outdated Google maps street views were. Some properties I already vetoed immediately for house hack potential (as a young female considering living there) based on how rough that street is.  I have been thinking about getting a gopro and walking/driving through class C/D neighborhoods taking videos/photos/observations of the area and talking to neighbors. It helped me immensely and felt more comfortable putting offers down since I knew I had already scouted that street in person (and compared it with Trulia crime map). Indy in particular is a city that varies from street to street but is rapidly gentrifying. Any thoughts/suggestions on what interest would be for a website like this? I am a mechanical/design engineer by day and primarily want to use this as a learning tool for me (for future BRRRRs) and hopefully help out of state investors. Would definitely love to partner in Indy to do this neighborhood scouting :)

@Jimmy Epolito - Great write up. I'm a newbie here and hoping to purchase a house to live and flip in Indy. I can empathize with all the emotional aspects, the DEEEEEEPPP research, trying not to get too involved too early on and risk being majorly disappointed,  getting outbid frequently and learning to walk away. Congrats! I only live an hour away but had the opportunity to drive around all over Indy yesterday for about 5 hours to get a good lay of the land. Irvington definitely is a solid pick! Very cute and great historic vibes.