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Old 01-29-2008, 01:52 PM
 
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Default Vancancy Rates in Indianapolis?

Hello, great forum here, I thought it was time to stop lurking and start posting! Can anyone give me an idea of the vancancy rates in Indianapolis. I would like to move there, and perhaps buy a house to rent out. Is it difficult to find renters there! Thanks, Tony.
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Old 01-30-2008, 10:33 AM
 
Location: City of North Las Vegas, NV
7,437 posts, read 4,661,490 times
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you will get a better responce if you post this thread the Indianapolis subcategory of Indiana

moderator might just want to move thread there....
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Old 01-30-2008, 04:11 PM
 
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You can do it, but watch out for the property taxes! They vary widely throuought the city. Go to the township assesor's office to get the numbers. We are in the first year of a tax reform that *could* makes things a lot better ... say 2% of value per year in taxes ... 120000 rental = 2400/yr in taxes. But this is going to be phased-in over the next 3 years. All this is very recent and not totally set in stone, so be carefull.

There are plenty of renters here. I believe the mortgage mess has increased the demand. I don't see good rentals being vacant.

There is also plenty of foreclosures to hunt through, if that's your bag. Indiana has many HUD listings.

Good luck,

Ken
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Old 01-31-2008, 05:07 AM
 
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Hey Ken, thanks for the response, it was helpful!
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Old 01-31-2008, 03:53 PM
 
Location: Indianapolis
260 posts, read 822,775 times
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Rental market is strong here...Ken is right, the high forclosures have increased the demand for rentals and increased the rent prices. Those poor people loosing their houses still need a place to leave...and that means rent

I personally prefer the newer vinyl village houses in Hamilton Co for rentals...they cost more money but they are typically less maintenance. If you buy in the right areas you are going to be dealing with better tenants with less headches. Plus your likely to get more on the resale, depending on how long you want to hold on to them...my personal advice is buy some unnderpriced houses in Hamilton county, let some one else pay your mortgage for a few yrs until the market turns around, then sell them for a profit and take the money and run
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Old 01-31-2008, 05:43 PM
 
Location: california
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I am an out of state investor trying to get an idea of the Indianapolis area. Where is Hamilton Co?
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Old 01-31-2008, 06:43 PM
 
Location: Indianapolis
260 posts, read 822,775 times
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Hamilton county is the first county north of Marion county (Marion County is the county in which Indianapolis is located) Fishers, Noblesville, Carmel are all in Hamilton County. These are all considered suburbs of the Indianapolis metroplitan area
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Old 02-02-2008, 08:24 AM
 
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Thanks ImGibby....Im going to take a look around Hamilton County on your recommendation!
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