Indianapolis Turnkey

Updated: April 4, 2013

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The Indianapolis-Carmel metro area’s population jumped 15.2 percent between 2000 and 2010, to nearly 1.8 million people, according to the U.S. Census Bureau. By comparison, the U.S. population as a whole rose 9.7 percent in the last decade “If you’re looking at market trends on a positive side, certainly a growing population is hard to argue with. It will funnel through the first-time-homebuyer segment of the economy or push rental rates up,” said RealtyTrac’s Rick Sharga. SmartZip, which contributed population, job growth, home-price appreciation and ROI projections data to this report, predicts the metro area’s population will rise 8.6 percent over the next 10 years, somewhat higher than average. Indianapolis-Carmel had the lowest sales price of the chosen markets in fourth-quarter 2010, at $106,000, and the highest affordability, with 93.5 percent of homes affordable for households making the median income. Indianapolis-Carmel has been the most affordable housing market in the nation almost continuously for the past five years, according to the National Association of Home Builders/Wells Fargo Housing Opportunity Index, a national affordability index. “(We) have determined the main things favorable to investors are cash flow and price-appreciation potential. A $100,000 investment will yield a newer, single-family home that rents for approximately $1,200 a month. This can’t be found anywhere else in the nation,” said Craig Bartels, broker-owner at Crager-Bartels Real Estate in Indianapolis. According to HotPads, Indiana’s median rental price rose 6 percent between April 2010 and April 2011. Indianapolis, the nation’s 13th largest city and capital of Indiana, has undergone a dramatic revitalization and a stunning renaissance, making it a completely different city than it was just a decade ago. Long known for manufacturing excellence and a dedicated and highly skilled workforce, the city has experienced unprecedented growth and diversification. Indianapolis consistently ranks high on the list of most affordable cities in the U.S. In fact, the city ranked third in Forbes 2008 list of “America’s Best Bang for the Buck Cities.” Indianapolis Due Diligence Package (PDF).

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Houses that are freshly on the market will show as “vacant” but come with a guarantee that it will be rented by the time your purchase goes through! In addition any repairs for the first three months are similarly guaranteed. All are available first-come, first-served and require a deposit to take them off the market. Please use the contact form below if you have any questions or would like to see more information and pictures.

Hendricks Place  $62,000

Hendricks Place $62,000

4 Bed/2 Bath

1639 Sqft

Year: 1909

More Pics

Occupancy: Pending


Purchase Price: $63,000 ($1000 approx. closing cost)

Rental Income: $975 (Monthly)

Monthly Expenses:

  • Property Mgt: $78.00
  • Property Insurance: $60
  • Property Taxes: $42
  • AFH Admin Fee: $97.50

Yield: 13.28% Items such as repairs & vacancy are not included and will affect ROI.


Emerson   $72,000

Emerson $72,000

4 Bed/2 Bath

Duplex

1792 Sqft

Year: 1947

More Pics

Occupancy: Soon


Purchase Price: $73,000 ($1000 approx. closing cost)

Rental Income: $1200 (Monthly)

Monthly Expenses:

  • Property Mgt: $96.00
  • Property Insurance: $70
  • Property Taxes: $73
  • AFH Admin Fee: $120

Yield: 13.82% Items such as repairs & vacancy are not included and will affect ROI.


E 36th  $73,000

E 36th $73,000

4 Bed/2 Bath

Duplex

1440 Sqft

Year: 1946

More Pics

Occupancy: Soon


Purchase Price: $74,000 ($1000 approx. closing cost)

Rental Income: $1200 (Monthly)

Monthly Expenses:

  • Property Mgt: $96.00
  • Property Insurance: $70
  • Property Taxes: $40/li>
  • AFH Admin Fee: $120

Yield: 14.17% Items such as repairs & vacancy are not included and will affect ROI.


HOW TO BUY

From start to finish, this process takes about three weeks.

 1. Select a House. Pick a house that appeals to you and fits your budget. Or, if you need help selecting one, please call or contact us. We can provide additional information and pictures. We’re glad to help! Once you have chosen a property, let us know (form below). We will email you a contract and application with and you will need to make a $5000 deposit to reserve the house for you. You have an “option period” (7 day free-look).
2. We Prepare Documents. American Full House will reserve the house. We prepare and email a set of purchase/LLC documents for you to sign and courier back. Based on your application, we open up the LLC bank account with your name. Along with this we have the house professionally inspected to verify it’s condition. We will arrange to have any major repair items (if any) fixed. You will receive an copy of this via email.
3. Make Final Payment. Once the property has passed the independent inspection, you make the balance of the payment and the property is officially yours! The property title and lease is transferred to you/your new LLC and the rents starting coming to you. Every property is purchased with “title insurance” which guarantees that the property of free of any encumbrances, liens, defects, etc.

All properties are subject to availability and are sold on a first-come, first-served basis.  If you cancel the transaction, you will owe only actual expenses such as professional property inspection (approx $400) and the one-time LLC formation fee ($1525). However, the LLC can be used for any future purchases. American Full House is assigned a 2% interest in the LLC; this allows us to run the LLC for you and execute contracts on your behalf (with written permission from you). Cash transactions only; we do not have financing available for foreign buyers.

You may also reach us:

  • +1-512-828-7150 (Office)
  • +1-512-947-9909 (Mobile | SMS | iMessage | WhatsApp | Viber)

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The information presented here is accurate to the best of our knowledge, however occasionally typos, human errors, and others could be present as data is entered in to the spreadsheet. We will verify all items during the closing process. The final closing documents should be used by you to verify accuracy of all information presented.
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