All Forum Posts by: Lamont Glover II

@Richard Covarrubias

Hey rich! I’m house hacking on the east side of Indy. It’s very street by street in this area. It’s pretty solid in the area east of Emerson, west of Arlington, south of 10th and north of about Brookville. Anywhere outside of that “square” is very street by street, but there are still some pretty good spots out east depending on what you’re looking for. I’d steer clear of anywhere near Sherman ave unless you plan on being very management Intensive. They’re cheap for a reason!

The catch is that there aren’t a ton of multi families in that (square) area... but as some others have said on here you can still find em!

I’m by no means an expert, still consider myself a rookie (shoutout to the bigger pockets rookie real estate podcast) but I grew up in the area. Feel free to shoot me a dm of any areas you’re looking at & I can give feedback. I can even maybe send you a pic or drive by video of the area or something.

The mapleton fall creek area (north of downtown) is awesome too though it’s getting to be saturated because of redevelopment, so not really sure. May be Worth looking at!

Cheers!

Yes! I’ll message you. Would love to share some things we learned... and things I’m still learning. Also would love to hear about your journey as well! 

Hello All,

Rookie here hoping to one day have some solid passive income through real estate. My wife and I live in Indy. Last year we were able to acquire a duplex and are house hacking now. My plan is to build up our reserves and then save up for another house hack. I want to start aggressively looking in about 12ish months (hopefully less).

Our first deal (duplex) just was decent.. for a few reasons. The good is that We learned a lot of lessons and hope to get an even better deal the second go-round. One of the things I've wanted to do is reach out via BP for Agents/Investor that 1)Understand the Indy Market, 2)Have their own multifamily investments, and are experienced with such! 

I also wanted to reach out to just connect with folks. As someone who doesn't know a lot about real estate investing... it can get pretty confusing & seem too difficult for us normal people! I know that connecting with people who have "been there" is one of the greatest ways to learn and grow! 

I'm excited to eventually attend meetups once it is safe to do so! (feel free to send those too!)

So, please, drop a comment or DM and let's connect! 

We like "A STEP Ahead" PM... connect with @ChadStickley 

First of all I always like to start with saying that the BP community has been such a great resource for me and I have spent countless nights losing track of time reading posts. Lol

I wanted to pose a question to investors or those who know about investing in the Indianapolis area. But before that, let me give a little background/context so you know where I’m coming from.

Let me begin by giving you my (general) end goals: I am not interested nor desire to become a full time real estate investor. I just don’t see myself doing very well at that in a full time capacity. My goal is to work full time somewhere... and have around 5-6 rental units on the side so that my wife has the ability to stay home and there is less of a financial burden on us once we have kids. The problem is... I don’t excavated know what I’m doing!

A few months ago My wife and I bought a duplex, and we house hack it. Her and I only pay about $400 before utilities to live here. This is something I’ve wanted to do for a long time and discovered this method from a BP resource. It feels great to have achieved this! However I am already unsatisfied because I want to keep progressing.

A lot of the investor lingo and things confuse me as I try my best to educate myself. But at this point I feel that ‘the tires may be spinning in the mud’. So my question is, does anyone know of any people, classes, mentors, or recourses... specifically in the Indianapolis area that I could learn from?

I understand the WHAT... just need help understanding the HOW when it comes to this stuff.

Thanks!

(Sorry if I’ve given too much info! Just wanted to be clear.)

I think I like it because it seems like a great area.... safe for the most part, walkable... a few cool shops/restaurants on washington. and a more affordable alternative than FS or Broadripple. I think area is a little more important to us (my wife. lol) since we are living on one side. 

The area we are looking at is north of washington, near Ritter/Irvington ave. so it’s pretty close to the heart of things. The good news is, the home that we are looking is not bound to the ‘historic society’ stipulations, which is good news. That’s was something that concerned me and I appreciate this community for bringing it up. 

I feel like we’re in a pretty solid situation, but always weary because that’s sort of my personality. Haha thanks for the comment and great insight, mike. I appreciate it!

@Mihir Bhimaraju what are your thoughts on house hacking there? Live on one side rent out the other?So it’d be living & investing (somewhat). Thanks for all of the insight 

@Ross Denman thanks for that insight. Would love to get your property management info. 

Send me a PM with your info! 

@Ross Denman Thanks for the insight! A little disheartening to hear that Irvington does not have the potential to be in the same conversation as BR or FS. Having second thoughts on that area, I thought it had a chance for growth for sure. 

How does rent look in that area? Lets say one side of a 2-3 bedroom duplex in fair condition? Im looking just north of washington st. on Ritter, Whittier, Irvington Ave.... what would rent run around there? 

Again, thanks for the insight. It is invaluable. 

Hello all. still fairly new to the bp community. Still learning what I can. 

Wanted to know your thoughts on the historic Irvington neighborhood in Indianapolis? Is it on its way up? Will it flatline or decline? I love the feel of the area but wanted to here some wisdom from you all! 

Thanks all!

Lamont G