Challenges?

I'm curious to connect with any other STR/ MTR owners in that area to get more info on resources that are in the area and what challenges/ successes you have had there. 

Maybe we can exchange insights and strategies to help each other navigate the challenges of getting started.Looking forward to staying connected!

Regarding building the proprety for $700K, that is a challenge for sure.

One thing that is really challenging about this market is the huge number of agents and groups that are here.Thanks again!

Laws, taxes, insurance, adventure, new challenge, grow skills, etc. 

Yes, having tenants pay ACH via a Tenant Portal software is best, but not all will cooperate and some will play games that result in NSF charges.We allow tenants to deposit cash/check/money order directly at our bank into our account.Many Class C & D tenants have challenges adapting to unfamiliar ways to pay and is often not worth the hassle (and possible evictions) to get them to change:(

Challenges and Opportunities Unique to IndianapolisSeasonality: Tenant interest tends to slow in winter, so try to avoid vacancies during those months.Diverse Neighborhoods: Indianapolis has varied sub-markets.

These options often come with their own set of challenges, but they’re worth exploring if you’re willing to get a bit creative.In short, it’s not easy, but with the right strategy and persistence, it’s doable!

For those who invest here, it has been tough sledding since 2023, and much more challenging since the onset of 2024.