All Forum Posts by: Kat W.

One way to possibly convince tenants to run vinegar in the dishwasher is to tell them it helps the dishes to come through without water spots. I use a splash in every load personally. 

Unfortunately, I was too amazed to get pics of the house. 

When you walked in the front door, someone had installed a black metal spiral staircase that went up to a hole in the wall for attic access. The master bedroom had been turned into a huge bathroom with a hot tub in the center. Two of the other bedrooms also had hot tubs built in.

It was definitely the most interesting house I've ever viewed.

We recently installed allure with stick strips, so I can't speak to longevity. 

It is easy to install for first timers, but the sticky parts can crack if you have to pull it up more than once to get it right. Also, we found that the bottom few planks in each box were cracked. We were able to cut them to use for edges and smaller areas. 

You're welcome! I'm glad it's helpful!

Chris, I think you have a wonderful idea! I know nothing to help answer your questions. However, a veteran friend of mine happened to share the following link on Facebook earlier today. Maybe it can help you. 

http://www.va.gov/homeless/landlords.asp

Kat

Welcome!

Welcome @Brandon Borah

I'm also new to investing from the Indy area. 

You mention having a tenant already lined up, which made my gut cringe. I may be wrong, but I'm guessing you haven't screened this person and it's a friend or family member. Spend some time reading here about screening tenants. It could save you some huge headaches. 

@Paul Timmins Thank you for the book recommendations. I have one of them downloaded and in line to read, the others will be added.

@Dennis Weber Thanks for the meeting and their information! The only one I've had on my list to visit was the CIREA. About the unofficial BP meetup, will it be posted here with Indianapolis in the post? If so, my keywords should notify me.

@Christy Barton $70,000 is approximately the max I can go all in at this point in time. I'm not sure what my goal is for a cap rate. I believe my goal for COC is 15%, but I've only just started considering it. Prior to this, I've been looking for a goal of $200 cash flow a month after all expenses.

I'm very much a newbie and trying to learn as I go. The few times I've posted here on Bigger Pockets, I've come away with more questions to find answers to. I really appreciate the insight, caution and information.

@Mike D'Arrigo I'm not limiting myself to only this area. Its one I came across and searched here on the forums and found little information, so I started a thread to learn more. 

I will still be driving the neighborhood tomorrow as well as several others, but from the information everyone has shared here, I highly doubt I will move forward in this neighborhood at this point in time.

Thank you all for helping me out! I'm doing my best not to be embarrassed by how little I know.

@Beau Benjamin My goal is to start a portfolio of buy and holds, and eventually, I'd like to get into some flips.

@Mark M. I knew the area had been rough in the past, but was/am hoping to find the the positive growth of South Broad Ripple is moving south to the northern border of the fairgrounds. I've been watching north of 46th St and just recently my curiosity was sparked further south. 

@Kerry Edwards I am looking to buy and hold. Someday I'd like to try my hand at flipping, but I don't believe I have the experience/cash to go that direction. You hit my thoughts exactly with your second paragraph. My estimations for the area looks like cash flow is there now, and that there is a possibility of revitalization on the way. I'm just worried that the revitalization may be too far in the future for a newbie like me to handle the current renter pool.

@Rusty Scott Thank you for your thoughts! When I first moved to the Indianapolis area about 10 years ago, I'd never set foot south of 52nd, but now visit the area restaurants regularly.

@Shannon S. For some reason I'm unable to tag your name. Thank you for your informative post! Near the end of your post, did you mean to say, "personally I WOULDN'T head too far away from college"?

@Matthew Schroeder The house on Kingsley is one that I've used for my estimations in the neighborhood. I have no expectations for appreciation in my calculations, however, I would be very happy if I could buy, hold, cash flow for a few years eventually the neighborhood coming up enough that we are able to flip and raise rent or sell. My husband and I are planning to drive the area and all surrounding areas tomorrow.

Thank you for all the great advice and information!

Hi everyone!

I'm looking around Indianapolis trying to find neighborhoods that I'd like to focus on. I like the south Broad Ripple area, but there isn't anything meeting my criteria at the moment. I've started looking a bit further south and am curious what others think of the area just north of the fairgrounds. 

I haven't driven this area yet and I don't believe it is technically considered part of SoBro, but it seems that it could be in the near future. Does anyone work in this area currently? Would you consider it a good place for someone buying their first rental? Or should I stay north of 46th?

Thanks for any insight!

Kat