Houses, Both Buyer and Seller in Oakhill, Indianapolis,...

Would Irvington be a good area to invest in multi family homes to buy and flip?

Asked by Houses, Oakhill, Indianapolis, IN Sat Jan 30, 2010

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4
The best way to truly answer your question is to enlist the help of an REALTOR to give you the necessary comparables to perform your due diligence. With proper assistance and guidance, you'll be able to make the best, educated decision.

You'll need to consider many different factors. 1. Are you looking to buy and flip immediately? If so, you'll want to take strong consideration in a CMA to gauge your potential return. 2. Are you looking to purchase, make necessary repairs and/or renovations, fill vacancies and then sell? [If you have the time to address any vacancies, this will assist you in making more of a return on your investment as well as offering potential buyers a lower risk, especially if your multi family/unit homes are 100% occupied. If you plan to go with #2,' you'll need to not only obtain a CMA for market value - as well as review the area rental rates, vacancies, average days on market and look into how you plan to lease out any vacant units.

Back to my initial statement, the best way to proceed with your possible endeavor is to hire a REALTOR to help you make the most educated decision.

I hope this helps.

Thanks.

Mallorie Wilson
Associate Broker
Century 21 Diversified
malloriewilson.com
317-590-3434 direct
mallorie.wilson@century21.com
0 votes Thank Flag Link Sat Apr 21, 2012
I think if you are still contemplating this question you should have an agent run comps in the area. Looking at the local market will tell you whether things are selling and at what price. I would hate for you to put time and energy into something that will end up biting you in the butt. Let me know if you need help looking at the local market!
Sarah
0 votes Thank Flag Link Tue Feb 23, 2010
Honestly, I think you'd be better off flipping somewhere closer to downtown Indianapolis. There are still excellent properties at really good prices in Fountain Square. Many artists are moving there and there are tons of restaurants and bars. The new Indy Cultural Trail is also coming there in 2011. I see Fountain Square as the next Mass Ave. You'll make more money in Fountain Square.
0 votes Thank Flag Link Tue Feb 9, 2010
are you kidding me. crime has never been so bad in Irvington. My family member that lives in Irvington has had there home broken into and car windows smashed. Good Luck trying to get someone to move into ivrington when greenwood or Carmel is where the money is going.

don't waste your time. Its lipstick in a Pig and they will know it. if you flip. just check out the skyline motel and prostitutes if you don't believe me. East Washington street is crack city
0 votes Thank Flag Link Sun Jan 31, 2010
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