T&H Realty Services Blog

Located in the southeastern portion of Hendricks County, Plainfield, Indiana sits, home to around 34,386 people.

Originally settled by Quakers, the city got it's name due to the "plain" nature of the people. 

The local economy runs off of warehouse type industries with Plainfield supplying approximately 50% of ALL warehouse jobs in Central Indiana. 

With it's close proximity to the Indianapolis International Airport, the hotel industry is also very popular.

The median age is 37.7 years old with a median household income of $62,121.

The majority of residents (69%) own their homes as opposed to renting. 

The median property value is $155,100 and the median rental amount is $990.

Niche has given Plainfield the following rankings:

• #8 of 115 for suburbs with the best public schools
• #16 of 115 for best suburbs for young professionals

When it comes to Indianapolis real estate investing, there are several different types of properties you can pursue. 

There's single family, duplexes, townhomes, commercial, apartment buildings, and the topic of today's discussion, condominiums. 

Every type of property investment has pros and cons, and condos are no different. 

Some investors will tell you condos are a great investment, and others will tell you they're the worst. 

It really just comes down to your investment goals and what you're looking for as a Landlord. 

Buyer clients frequently ask us if they should consider condos, and while we can't give a definitive yes or no answer, we can provide some pros and cons. 

Carmel, Indiana is a northern suburb of Indianapolis located in Hamilton County with an estimated population of 98,332.

And, before we go any further, Carmel rhymes with Marvel. Natives get pretty touchy about incorrect pronunciations. 

Carmel has some pretty big claims to fame, being named one of the best places to live in the United States for multiple years, by multiple publications. 

It's known in some circles as the "Beverly Hills of the Midwest."

Working with Investors purchasing single family homes in the Indianapolis market, we are often asked some variation of the question, "should I stay away from HOAs"?

As with many real estate investing topics, the answer is, it just depends. 

Home Owner's Associations have certainly amassed an unfavorable reputation among property owners all around the country, and it's not unwarranted. 

They're often hard to deal with AND cost you money. 

But should you completely rule out any and all properties that have an HOA?

Let's discuss, and you can be the judge. 

Whether you're a new Landlord just starting out, or you've been self-managing your properties for a while, the thought of hiring a professional property management company has likely crossed your mind. 

Whatever category you fall under, you're bound to have some reservations about turning over such large investments to a third party. 

Those reservations aren't unwarranted, and if you want to have a successful rental property business, you need to be fully bought in to whatever route you decide to take. 

If you want to DIY it, you need to understand everything that comes along with self-management. 

If you want to hire a property manager, you need to understand the pros and cons. 

But beyond that, you have to understand that it's all relative. 

While you certainly can argue the advantages and disadvantages of hiring a PM, what it really boils down to is value. 

Are the services you receive worth the money?

Having rented homes over many, many years, you could say we have a pretty good handle on the Indianapolis rental market. 

It’s our business to understand it, to track it and to plan for it.

And we do.  

If you own or plan to own rental real estate in Indianapolis, it’s critical that you, too, understand one inherent truth about the Indianapolis rental market: Seasonality.

Seasonal meaning there are times of the year when it’s really, really good to rent your home and other times where it can be difficult to rent your home.

We understand that our market isn’t necessarily unique - many, if not most, markets throughout the United States experience the same thing - but it’s important to understand this important reality.  

So, we thought we would spend some time discussing seasonality in the Indianapolis rental market.