Where to Buy in Indianapolis (By Zip Code...)

I absolutely refused to invest in this specific neighborhood. We're rooted and in the last 12 months, we have helped hundreds of investors break into Indianapolis [music] real estate. We walk these streets every day and we know where the money pits are. Today, the controversial [music] opinions are coming out. We're breaking down the specific zip codes in pockets of indie that simply aren't as attractive as they seem on paper. So, Tyler, what indie zip codes can you find cash flow in right now? Where would I find cash flow now? That's a great question, Max. 46201. 46201. You know, you have some listings there. 12 of them right now. I do. I have a lot. And they all 115,000 rented for 1,500. Mhm. I think you can cash that. Awesome. Last time I checked, right? What's the downside? The downside, bricks thrown through windows, tenants with 500 credit scores left in your unit, tenant goes to jail. Those are things we've all we've both experienced in 46201. Yeah, cap flow is good when it comes in once out of 12 months. It has to be the highest incarcerated amount of population. And we can look at the stats. I'm not trying to like be a racist or something. I I literally know of many people that have invested there and their tenants went to prison. Part of being in an urban environment, you're going to have crime and and 4601 has a decent amount. With that being said, there's amazing parts of 4601. Addison Newell just bought the kneehammer. I believe that's in 4601. He's going to be making $10,000 per floor on a million dollar asset. Um like cash flowing like a freaking tycoon. So I think it it can work. We had a panel recently where the advice was to buy near the major transits in the water and Washington Street. Actually, every single ma major transit uh through line running east to west is in 46201 or intersects in there somewhere. Right. So, uh, like I have a 16 unit building that is 19 grand a month listed for 1. 8 offm market that will be a great cash flow play on paper, right? All of them are governmentbacked tenants and I think that's the demographic you're working with. You have to be a hands-on manager for it to work out. Agree completely. What is a hidden gym zip code that I must invest in? Two come to mind. 46222 which is um Stringtown up to Speedway I think is hidden. Eagle I think this is uh really good rentto price ratio is the 1% rule. If you want to burr, you should burr in Eagleale. Yeah. So many people will buy these homes, right? All these immigrant families moving. You can buy a nice house on a culde-sac for 130, put 20 into it and it'll refy for 195. And long-term rentals are pretty pretty great there. There's some zones that are difficult. Uh Havville is a little challenging but even Hawville is changing rapidly and won't be the same in right a decade or two. And then uh 46219 which is home to Irvington, Bozart Brown, Warren Park, a little bit of the far east side I think is a underrated investment. A lot of rental demand, good appreciation, safe, a little bit outside of the rough and tumble of the near east side. I think would be a good investment too. What zip code should I go to to flip? Quick pause here because if you own property in Indianapolis, your contractor matters more than you think. That's why we've consistently recommended Nick Giuliani and the team at Off Leash Construction. They handle everything from small repairs to fullcale renovations, and most importantly, they do the things the right way. They have an insane new tool that lets you upload your inspection response and get a quote in minutes. Check the link in our bio to check it out and connect with Off Leash. All right, back to the show. Yeah, I going to go hometown favorite where I live, 46220. Uh, it's kind of Washington Township and uh the Broadripple, a little bit of Sobro. I just feel like the margins can work really well, especially in the southern part of it, kind of closer to 52nd, 49th. I've seen a lot of new development. They're buying land. and they're putting a new duplex, a new home, and trying to sell it for 500, 600,000, as well as I think 46208, which is Butler running down into 65 and a little bit of Riverside. It's all over the place. Like, you could have dodgy, terrible, beat up street next to uh super nice Butler, Tarington. So, I think that middle area just north of 38th, you know, Rookwood, uh, Cornelius, um, Grace, Graceland, these are streets that I think are turning rapidly and a lot of our investors and developers are buying in those streets. What is the blind side in those areas? Yeah, I think not they're not all created equal, right? 46220 I'm looking goes all the way into Lawrence. From Broadripple to Lawrence, like they're just two different drastically different drastically. These are telephone zones. These are not neighborhoods. So, I'm sorry if you're from Israel or if you're from Iran investing in Indianapolis, which we get these calls. These are not one neighborhood. It looks like a chunk and they just decided this is going to be some zone. It's it's random. It's like five or 10 neighborhoods in each one. And then 4628, it's the same thing. You go from $700,000 homes in the northern part, literally Meridian Mansions are in 46208 and then all the way down to just south of 65 past the split. You get into North Riverside and it's possibly my least favorite place to invest. The interstate unfortunately cut right through that neighborhood and destroyed it and it has no really appeal outside of cheap properties. You can't really live, work, and play there. Not at all. Right. At least right now. Right. It's literally a bypass zone, which is terrible in, you know, our history, you know, that we did that to the neighborhood, but it just is what it is. Now, a quick aside, most people overpay for insurance or worse, they're undercovered and they don't realize it. We partner with Jackson Blevens at Core Insurance Solutions. He's a full service broker here locally in Indianapolis who handles everything from home, auto, boat. He can do it all and he understands the retail side and investor side of the game. If you want someone who can shop the market for you and tailor correct coverage for your property, connect with Jackson in the description below. So, zip codes holistically are a terrible indicator for investors. Uh, but I'm going to keep rolling on with the questions. Where can I get appreciation? What zip code can I get appreciation in? I think 46204, which is downtown. Uh, 46202, which is near North Side and Riverside and Highland Park, uh, Arsenal Park. 46202 is freaking gold. If you can buy and somehow rent that out in cash flow which would be really difficult would be gold. But then I think 46205 which is kind of Mapleton up into Sobro and then 4620220 which is Mer Castler Broadle Lawrence the good part of Lawrence those are all I think solid. So kind of running up that Meridian corridor down to downtown where we have the the red line right um running into Nora. Everyone wants to live there. It's it's safe. It's predictable right? But where am I going to get absolutely cooked? I absolutely refuse to buy in the Mars Hill Southwest zones. No offense to any people living there. Get cheap properties. Can have a great life there, but I would not personally invest there. A lot of these properties are huge and have nightmarish inspections and there's [snorts] not many good commercial zones there. I don't that I've seen a lot of vacant properties. So 46241 46221 I don't see being a smart investment as well as uh I hate to say this one because I think it's trying to make a comeback and they're doing some more tiff infused development in this zone but I absolutely refuse to buy in 46208 which is Martenddale Brightwood. [snorts] It's north of the near east side so just north of 4621 which we talked about at the beginning. I think that is um a tougher neighborhood. Uh a lot of shootings, a lot of violence. It's the parks need a lot of attention, like litter, just cleanup needed. And I go to a frisbee place over there and I love it, but like I see the cops like every time I'm playing frisbee, there's like a cop running, a drug bust. [gasps] I'm, you know, it is what it is. Um you know, I'm sure there's great people living there. It's just a difficult environment to invest in. It needs a lift for sure. If you want to get into the [music] mix of where to invest and how to get better in your Indianapolis investing journey, make sure to subscribe to the show and [music] turn on the notification bell. Drop a comment. Where's your favorite place to invest or where have you gotten absolutely cooked? Peace. Peace.