Several months back, my local grocery store voted me “Customer of The Year.” I’m there just about every day. One of these years, I’ll likely be recognized by the Indiana Farm Bureau too for our consumption, and perhaps I’ll get a year’s worth of free milk or something. Goodness knows I can’t keep it stocked with teen boys in the house and the good agricultural folks of the Hoosier State are way ahead of the game when it comes to profiting from my family.
I’m a worthy contributor to Indiana’s rural economy. As a real estate investor, I’m constantly combing the Crossroads of America for homes to buy, renovate, and sell. Flipping homes have been a good business and it helps me to gain back a few of those dollars that gladly found their way into the coffers of those noble providers of sustenance. But, to keep the cash flowing for my own business, I need to stay on top of where the best Indiana house-flipping deals can be found. Let me share a little about what I’ve been focusing on lately.
Should You Flip Houses in Indiana?
The Indiana real estate market shares a lot of characteristics with our neighbor to the north. Both Michigan and the Hoosier State have welcomed a rebound in home prices but shrinking inventory favors sellers right now. Regardless of the tilt, many opportunities exist in Indiana to find distressed homes that can be fixed up and sold for a gain. Naturally, increased competition among buyers make those deals slightly scarcer than in other parts of the country but knowing where to look for leads puts real estate investors in a good spot. Here are a few of the areas to investigate.
- Fort Wayne. Common knowledge tells us that the Amazons of the worlds have made a huge dent in revenues for the brick-and-mortar retail industry. The digital age allows individuals to shop at the kitchen table and the 18-35 demographic wants to spend more time on leisure activities and fewer hours shopping for clothes, housewares, and food. Fort Wayne appears to be bucking the trend as the amount of available retail space here continues to be full to the brim. A resurgent local economy has injected hopes for growth in the real estate market. Looking at criteria such as quality of life and the cost of rehabbing, Fort Wayne made the top five markets for investors looking to buy and sell homes in a short time frame by Inman. I’m diving in because, while a lot of U.S. cities fit those criteria, high gross profit margins in Fort Wayne really opened my eyes.
- Indianapolis. I enjoy buying older homes and lending a historic feel to the dwelling during the rehab. Buyers are attracted to the character and new home construction just can’t yield the same result. Indianapolis presents me with a number of opportunities to purchase older homes that can be renovated to reflect their former splendor. Naturally, the key to profitably buying, renovating, and selling these homes lies in my ability to inexpensively add some flair without upgrading beyond the level of surrounding properties. Among such downtown neighborhoods as Market East and Cottage Home, I’ve uncovered homes in need of some TLC that I acquired at a price that provided confidence in achieving good returns. And, like Fort Wayne, successful Indianapolis real estate investments have recorded some of the cushiest gains in the state—another compelling reason I’m all over single-family home purchases in the state capital.
- Fishers. Many first-time home buyers and new families want all the attractions of the big city but prefer to plant roots in a more family-friendly area. Fishers provides residents with a quick commute to Indianapolis and a personality all its own. A push by political leaders and community groups has brought a vast number of startup businesses to the town. When innovation comes, growth often follows. With limited home inventories all across the state, the homes I’ve been able to secure and rehab to sell haven’t stayed on the market long. Fishers median home prices have sailed beyond pre-financial crisis highs so I’m reaping some rewards as I sell into a rising market. Median household incomes are relatively high too, giving me a nice selection of hungry buyers who have made strong offers on my rehabbed properties. I’m staying in this market while the getting is good.
The Never-ending Search for Leads in Indiana
When looking for promising deals in Indiana, tight home inventories are probably making your search somewhat frustrating. There are a lot of investors coming to the forefront and the competition remains brisk. I’m up to the challenge, however. As an independently owned and operated HomeVestors® franchisee, I can leverage the nationally-known and trusted “We Buy Ugly Houses®” marketing campaign to effectively connect with motivated sellers across the state. I’ve been investing for years now and have tried every property investor lead generation strategy out there. Plainly put, the qualified leads I get as a HomeVestors® franchisee provide me with more value than anything else.
If you want to get out in front of the tremendous home buyer demand in the Hoosier State, contact HomeVestors® today.
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