All Forum Posts by: Spencer Smith

Quote from @Bria Johnson:

@Mike D'Arrigo Jumping In on this post here to say thank you very much for your insight. I do not currently invest in Indy but looking to do so within the next year. My biggest fear is that I live in the north east and I am worried about investing in properties that don’t make sense and that I can’t see. Any tips on how to properly learn the Indy market well with being miles away? I see you are from Cali so figured you are a pro at out of state investing.

Thank you!

 Hey Bria!  I'm also an OOS investor who lives a few timezones away from where I invest.  I would suggest reading David Greene's Long-Distance Real Estate Investing book.  It's got great details about every step of the process (learning area, finding agent, lender, how to rehab, etc).  I'm just finishing it up now and has helped a ton!

Quote from @Mike D'Arrigo:

@Shane Rojas Indianapolis is a strong cash flow market but you really have to know the areas well and do your due diligence. Indy can vary block to block and even street to street. My biggest piece of advice is to buy the highest asset class you can afford and do not buy cheap properties in inner city, urban core areas. Stick with upper C class and above neighborhoods. I would also avoid multi families. Most are in old rough neighborhoods and with very few exceptions, do not perform well. We've been active in Indy for over 10 years. I'd be happy to share share my insights and help if I can.

 Just wanted to say thank you @Mike D'Arrigo for this comment. I've been back and forth between a few Midwest markets (including Indy) for some 2-4 unit properties and I had not realized this about Indy.  Still seems like a solid market for SF homes (which I have two of), but not a great market for 2-4 unit (which is what I'm looking for).

Quote from @Stephen Barton:

Hi @Weis Sherdel I have a couple I can recommend. Liv Indy is one. T&H Realty Services is another that one of my current clients is using. Evergrow property management has been another company I have worked with for years and completely trust them. There are pro's and con's with anyone but I think this is a good place to start. 

 Not OP, but thanks for this list!  I'll check them out.

Interested in this as well.  Looking to grow in Indy or KC (still deciding) and will be starting to put my team together very soon.

Quote from @Spencer Gray:

Yes, we have the US bundle. Any specific data you're looking for?

Never looked at a Costar report but would love to get an idea of how it compares the two markets (I'm trying to decide between these two exact markets). I took a look at the Yardi Matrix report but didn't quite get as much data there as I was hoping.

Can confirm.  Software Engineer here.

Looks like a good bit of advice has been given here already but just to add my own: Do some deep location analysis on certain cities/counties.  I recently followed the Joe Fairless method and dove into employment, vacancy, population, permits, etc etc data for 9 different markets.  The findings were quite surprising!  It helped me narrow down which locations I really want to dive in to.

Pick some markets (7+), dive into the numbers, narrow it down to 1-2 and become an expert there.

I'm currently on this journey as well.

We purchased 2 turnkey properties in Indy about 4 years ago and the returns have been great.  I'm looking to get in the market as well and was surprised to find this post discussing the two markets which are top choices for me.  Still trying to decide between Indy and KC to start diving in!