DEAL SHEET · W36 · SEPTEMBER 4, 2026 |
Roots Fam,
We ran our Summer Masterclass at Guggman Haus last Thursday night with Brandon Taylor, Executive Director of LISC Indianapolis, and Fred Yeakey, founder of 2 Thirty-Eight Properties.
Here are my 5 key takeaways from a wonderful evening:
The money for neighborhoods is already here, and most investors have no idea where it is.
Fred said yes before he was qualified, and that’s the only way he’s gotten to where he’s at.
"See the potential in the soil, not just the grass."
Neighborhoods are writing down where they are going.
The number that should bother you. On the Far East Side, roughly 90 percent of the jobs are held by people who live somewhere else, and roughly 90 percent of the residents drive somewhere else to work.
Fred, asked what he would leave the room with: "Do not just think of your success as measured by a business model. We are in the business of people. Without people, we would not even have work."
Next one is December 3, same venue. First 50 registrations are free. See RSVP at the bottom of this email!
That was Thursday night. Here’s what’s on the board for today’s Indy RE deals:
Five deals on the board, every one run on the same model at the same rate. What is different this week is the number we put on each card. Not a return percentage. The actual dollars the property pulls out of your pocket every month while you hold it.
Three of the five are what you would expect. Two are not, and we would rather say that at the top than let you find it halfway down.
Two of the five deals below cost you money every month to hold. 1734 S Talbott runs $682 a month and 3106 Keswick runs $638. Would you buy either one anyway for where the neighborhood is going, or is that a bad trade? Reply YES or NO. We print the real split next week, no names.
Every card runs on one model: 25 percent down, a 30-year DSCR loan at 7.125 percent, and the full assumption list is in the PDF. Kiavi was advertising rental loans as low as 5.875 percent and Lima One as low as 6.0 percent.
8 units · Renovated 2021 · One mile from the IU Health downtown campus · Indianapolis, IN 46208
The property manager sent Roots this eight-unit building directly, with three years of operating statements and a current rent roll attached.
ASKING $975,000 · costs you $1,014/mo to hold
Eight renovated units one mile from the new IU Health downtown campus give this one a real demand thesis without pretending the current carry is positive. Keep the rent roll intact, learn the furnished unit's true net margin, and test only one additional furnished conversion after the operating data supports it.
Income is from the current property manager's TTM statement through August 2026. We have read it.
2 units · Fully renovated · Two-car private parking · Indianapolis, IN 46201
The listing agent is still operating this renovated duplex as an Airbnb and is offering the furnishings separately, which makes the handoff more operational than cosmetic.
ASKING $474,900 · costs you $1,407/mo to hold
This is a finished two-unit asset close to Fountain Square and the Near East Side, with two-car private parking and no renovation story required on day one. Choose one lane before closing: keep a tightly managed furnished operation or convert both sides to long-term rentals after verifying legal use, bookings, and expenses.
Rent is as stated on the MLS. We have not read the lease.
PARTNER · RESOLUTE LENDING Every number in this email assumes financing, and financing means somebody actually picks up the phone. Seth Wilcock is the founder of Resolute Lending, operating under Independent Mortgage Brokers. We absolutely love sending clients to Seth. He always takes care of them.
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2 units · 917 side 2 bed / 1 bath · 919 side 2 bed / 1.5 bath · Indianapolis, IN 46203
This Fountain Square duplex returned to market after a 1031-contingent buyer signed a mutual release, and the release states no property-defect cause.
ASKING $425,000 · costs you $1,523/mo to hold
We underwrote only the stated rent on the leased side and gave the owner-occupied side zero income, so the carry shows the cost of patience plainly. Verify the existing lease, decide whether the open side is an owner-occupant plan or a future rental, and budget the shared water line outside this simplified model.
Rent is as stated on the MLS. We have not read the lease.
PARTNER · LONGHORN INVESTMENTS At Longhorn Investments, we provide financing for fix-and-flip, fix-and-rent, and new construction investment properties through a lending process that’s transparent, responsive, and built around real estate investors. Our 100% LTC financing provides qualified borrowers with access to up to 100% of their purchase and rehab costs, giving investors a powerful financing advantage while preserving more of their capital for future opportunities. Every borrower and every loan is treated like our first, and we work hard to earn your trust by delivering a reliable, professional lending experience from start to finish.
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4 beds · 3 full baths · 2,113 sq ft · 102 days on market · Indianapolis, IN 46225
This one has been sitting for 102 days in the fastest moving neighborhood on the near south side.
ASKING $335,000 · costs you $682/mo to hold
Bates-Hendricks has moved harder than any near south corridor for three years running, and this is a full 2,113 square foot four bedroom inside it. Hold it, lease it long term, accept the carry, and let the corridor do the work.
Rent is as stated on the MLS. We have not read the lease.
PARTNER · HAUS CONSTRUCTION Haus Construction handles routine maintenance, inspection responses, general contracting, roofing, exterior work, and full renovations, giving homeowners, investors, and property managers one trusted team for the job.
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4 beds · 2 full, 1 half baths · 1,595 sq ft · New construction · Indianapolis, IN 46222
This one is brand new construction in a corridor that has taken renovation money for three years.
ASKING $295,000 · costs you $638/mo to hold
No roof, no furnace, no plumbing, no deferred anything for years. Buy it new, lease it, and own the cheapest maintenance line on the board while the corridor fills in around it. Then model the tax properly: the listed bill is $55, which is a land assessment, and it resets to a finished home basis after completion.
The unit is vacant. That number is a target, not a lease.
4625 to 4659 Crestview Ave
5 all-brick doubles · 10 two-bedroom units · 8 leased, 2 open · Six parcels convey together
I'm exploring the Crestview portfolio in Fairgrounds and looking for a few people who may want to evaluate it alongside me. It is five all-brick doubles, ten 2-bedroom units total, across 4625 to 4659 Crestview Ave. Eight sides are leased and two are open. The entire six-parcel portfolio conveys together. I am still in diligence, and nothing here is a commitment or a promise of return.
Reply CRESTVIEW and I will send you the numbers
SEPTEMBER 2026 · EIGHT PAGES · ROOTS REALTY CO.
ROOTS: Buying Where Indy Is Going
A corridor-first field guide with all five of this week's properties underwritten on one conservative model. Inside:
The full line-item math on every property: income, principal and interest, tax, insurance, reserves, cash needed, and the carry.
The corridor thesis, and how to actually read a Quality of Life Plan before the comps move.
What we benched, with the arithmetic printed, and what this model does not tell you.
One PDF. Every number. Nothing to log into.
Know someone who keeps saying they want to get into Indy real estate and has not pulled the trigger? Forward them this one email.
Ninety percent of the jobs on the Far East Side belong to people who live somewhere else
There is a number from Thursday night I have not been able to put down. On Indianapolis' Far East Side, roughly ninety percent of the jobs are held by people who commute in, and roughly ninety percent of the people who live there commute out. Two rivers of traffic crossing each other every morning, in opposite directions, on the same roads.
Almost nobody buying property in this city has read a Quality of Life Plan. They are reading Zillow. A Quality of Life Plan tells you which corridors are getting attention and capital before the comps move, because it is the document the capital is being pointed at. That is not a secret and it is not a tip. It is published, it is free, and it is sitting there.
You are paying for direction rather than for current rent, and that only works if you can carry it. Which is exactly why every card in this issue tells you what the property costs you per month instead of handing you a return percentage and letting you fill in the rest.
On the Calendar
Indy Street Sweep, Friday September 11, 8:00 to 10:00 AM. JTV Hill Park, 1806 N Columbia Ave. Two hours, all supplies provided, bring whoever you want. This is the one we want you at.
Grab a Bag.
Coffee and Connect, Wednesday September 23, 7:30 AM. 6338 Westfield Blvd. Details here.
Real Estate Masterclass, December 3, Guggman Haus. Details here.
From the Roots Channel
Tyler and I just bought a 1930s apartment tour in Meridian Kessler. Check out it’s CRAZY location…
This one was packed! I hope you took some serious value from it (or your next property 😉)
If you want us to run the next investment before you buy it, our team is READY!
Plant roots, build wealth.
Max
This model is a comparison tool, not a property budget. It excludes utilities, turnover, legal use, furnishing replacement, debt-service lender fees, and property-specific capital work. It also does not assume appreciation. Read the lease, verify the operating statements, inspect the property, and confirm financing before making a decision.
