All Forum Posts by: Josh Wong

I am Tracy Bailey, AKA The PINK Realtor, and RE investor (commercial focus) here in the Indianapolis region. Currently I am on MIBOR's Economic Community Development Council where we get to learn and help fund non-profit organizations that are improving our communities. Currently Indiana is experiencing exponential growth and we do not have enough inventory to keep up with the demand. This is true for the region. I have attached a great website you should peak at for what is already set in place. Honestly, you can not go by Zillow. 1. They are only averaging estimates and not comparing similar properties/amenities. 2. Your local realtor associations are the definitive source of information. 3. Zillow is not attending planning, commissioner, economic and development meetings in each town or county. Therefore, they are not able to know what is going to happen 2 years from now, today. The items that are now happening in the Indianapolis region began many years ago. They are only NOW being talked about as shiny and new, when in reality, the projects have been in the works for a while.

https://www.visitindy.com/meetings/why-indy/new-developments

link to the hot talks of today. Personally, the Indianapolis and surrounding areas will remain "hot and trendy" for a while as economic development is growing in the region. Hope this helps. If you would like specified market stats and growth information... that is conversation for set aside time.

Hi Tracey,

Thanks for the engagement, and for the link. Makes total sense that what you see on Zillow is well behind the actually things happening at the Council; that's the kind of intel I'm certainly looking to understand better.

Any major topics occurring when it comes to development in the U of Indianapolis area? Also, when it comes to the development occurring in the Indy area, how fast are things moving from ideation to development? Is the city quickly moving as the boom occurs, or you sense any slowness to adapt as the city changes?

I also didn't see the "hot talks" section, unless you just meant that the New Developments tab is where a lot of the popular developments are being shared.

0 Votes

Indianapolis, Indiana

Quote from @Jake Knight:

We have quite a few properties over there! It's a pretty modest/blue collar area. You'll find some crime as you would with a more affordable area but overall it offers good rents in a time where rents are at historic highs. I find a lot of rents to average around $1,300. Floor is $900 and ceiling around $1,600. Personally, I don't have any issue investing or managing over there. Finally, even though Indianapolis University is small, it's always good to have a great institution nearby.

Hi Jake, great to meet you and thanks for the share! As for the properties you manage in the area, are most short-term or long-term rentals? And how're they cash flowing compared to other parts of the Indy area that you manage?

0 Votes

Indianapolis, Indiana

Quote from @Kerry Noble Jr:

U Indy is definitely growing!! I was over there last month.....its definitely came a long way! There are some great opportunities over there....

@Kerry Noble Jr that's awesome to hear! From your experience, how do you feel it's come a long way? Do you mean in terms of real estate, economic opportunity, any major changes to the job market that means ups/downs in real estate interest in the area?

0 Votes

Indianapolis, Indiana

Hey @Jake Knight, I just posted on the Indy forum here but then also read this post after. Would love to connect as I keep tabs on the Indy market!

I'm invested in the University Heights area, and from looking at the market, I don't see a whole lot of activity happening in the area in 2024. Zillow shows only a 1 sale this year in the neighborhood, and not a lot of homes for sale in the general area. Curious if you have thoughts on why that is? Any outlook on the future of that area?

0 Votes

Indianapolis, Indiana

Hello,

I currently have an investment property in the University of Indianapolis area (east side specifically in 46227 zip code). Wanted to connect with others doing business in the area to keep up-to-date on the market, as I'm from out-of-state. How is the university doing from your eyes/research? How is real estate and the neighborhoods doing, and how are they developing?

I am naturally following the area as much as I can with local news, following the market on Zillow, etc. so happy to be learning together!

Looking forward to connecting!

1 Vote

Indianapolis, Indiana

Hello,

I currently live in the CA Bay Area, but became a recent investor in another state. Curious if 1) do people recommend finding a CPA that is local to them, or a CPA more knowledgable in the state they are investing in, and 2) based upon 1, have any recommendations for a CPA?

My goal is to become a long-term investor with multiple doors, so in it for the long haul as a client. For now though, just need to start properly preparing my tax situation.

Thanks,

Josh

2 Votes

San Francisco, California

All Forum Posts by: Josh Wong

Josh Wong has started 2 posts and replied 6 times.

Post: 46227 / University of Indianapolis Area Investors

Post: 46227 / University of Indianapolis Area Investors

Post: 46227 / University of Indianapolis Area Investors

Post: Indianapolis Market Update

Post: 46227 / University of Indianapolis Area Investors

Post: Looking for CPA for Out-of-State Investments