All Forum Posts by: Melissa Fourie

@Dawn Anastasi, Thanks so much for taking the time to respond! Are you expecting any capital appreciation for the properties you acquired in C-Class areas?

@John Blythe Thanks for your thoughts! Yes, soon I hope to meet this PM in person and learn more about his strategies. As far as goals, appreciation and rental cash flow, I guess I'm more interested in buy and hold for the long run and cash flow would be the most important reason to even consider buying real estate. 

@Sterling White I agree with you and appreciate your thoughts!!! Could you recommend any neighborhoods inside the loop that you have had success with and would recommend to newbies? Thanks in advance :)

@Sterling White Yes, I've contacted a few....great idea to contact them! One said....

"I recommend finding rentals that you can expect at least $900/mo (especially if you are financing.) If you are paying all cash, then you can drop to $750, but I still believe that you are safest in the $900+ range regardless."

Areas to consider

Suburban area outside of I-465 (be more careful on the East side though)

Marion County north of 56th St (Pike Township, Washington Township, Lawrence Township)

Marion County south of Thompson Rd (Decatur Township, Perry Township, Franklin Township)

Marion County west of High School Rd (Wayne Township)

I found this advice very helpful. This PM also mentioned using....

www.rentometer.com - free tool for rental market analysis

www.finestexpert.com - free tool for market analysis as well

What do you guys think of this opinion? 

@Aaron B. As far as defining class A~D neighborhoods in Indy, I think getting familiar with as many neighborhoods as possible and then comparing and contrasting them helps me. I may also add in a + or - after a letter grade. 

I've read a lot of the former discussions on the criteria for giving letter grades to neighborhoods and they are all very informative. I'm still not sure if I feel comfortable investing in C class but I'm very curious about what neighborhoods in Indy people consider C class. Indy is a very interesting city and I'm still trying to understand the real estate market here. 

We all know that Ben, who also happens to be the author of the best real estate course in North America, is pretty outspoken about investing in 30K pigs. I was just thinking though, I wonder if Ben would entertain the idea of buying a 30K property in (C-Class neighborhood) that rents for $750-800 p/m? Just out of curiosity,  at what point do pigs become attractive?

Happy New Year Everyone!

Happy New Year Everyone!

I trust you had a wonderful New Year's Eve and thoroughly enjoying their New years Day. I am wondering if anyone is investing in C-Class neighborhoods in Indianapolis? In particular, I am curious about whether this could be a viable strategy, and of course, it would be interesting to learn which neighborhoods would be best suited for a C-Class investment strategy. I am thinking that in order to be successful with this type of investment, the yield should be pretty close to the 2% rule and one should have a very good property manager in place.

I recently heard that one should stay away from older 3/1 homes that rent for less than $750 p/m. Would this be a good rule of them? 

Thank you so much for taking the time to read my post, I would really appreciate any thoughts or ideas.

Melissa

@Don Harris I am definitely going to check out the local meetups, thanks!

@Shawn Holsapple, awesome that you are on the panel - will drag Phil along as well :)

@Patrick B. Thanks for the best wishes, really appreciate it!

Hello everyone,

 I am very excited to have finally joined BP, yeah! I moved to Indy the end of September and I must say, I'm absolutely thrilled to be back in the States after living abroad for almost a decade. 

I am currently looking to buy 1 or 2 properties in Indianapolis (asap) and hoping to network with local investors and wholesales. My first investment goal -  to generate $2000 from income producing properties. Looking specifically on the west and south sides of Indy - outside of the loop. Also, interested in Plainfield, Avon or Greenwood. Inside of the loop, I am open to investing in homes that rent for $750+ p/m.  

Thanks so much for reading and looking forward to meeting as many fellow BP'ers as possible :)

Take care and Happy New year!

Melissa