Indiana is a good place to call home!
Another market that appeals to us that is not in the west is Indiana. Indian has been going strong and has been voted as one of the best places to live in the country. When you have people coming to an area of the country to live, what comes along with all these people is industry and employers. Add all that up and you have a thriving economy which is perfect for us as multifamily investors.
The Midwest typically has lower price on entry and higher cash flows that the coasts. Many of these Midwest markets don’t experience the huge up and down swings as some of the bigger sexier markets making these good places to invest for stable long term cash flow.
See the below article with an overview on Indiana and its economy
In 2004, Indiana was ranked as the 38th-best business climate in the nation. Today we are No. 8 in the Tax Foundation’s business tax climate rankings. From the Great Recession until today, Indiana has gained 30 places in the rankings, all while maintaining a balanced budget, investing billions in roads and education, cutting state debt by almost half and maintaining a $2 billion reserve that preserves our AAA credit rating.
None of this success happened overnight. Indian has been working hard to make their state stand out as an economic powerhouse of their midwest. See below from the 2018 IRR viewpoint report on real estate marks: You will see how Indiana and Indianapolis specifically is still in a recovery mode in 2018 and well positioned for future growth and expansion.
Gov. Eric Holcomb said his Next Level 2018 plan will make Indiana “the envy of others.”
His 2018 agenda was announced Wednesday at the Statehouse with hundreds of people in attendance. Holcomb said the plan hones in on building up Indiana’s workforce from the local level on up to ultimately fill some 92,000 in-demand, high-paying jobs.
Indianapolis is a primary industrial, commercial, and transportation center for the Midwest. Situated in proximity to the vast agricultural region known as the corn belt and to the industrialized cities of the upper Midwest and the East, Indianapolis is supported by a diversified economic base. Prior to the 1980s, the city’s principal industry was manufacturing, which has been displaced by retailing and services. Having made a conscious decision to achieve prosperity through sports, Indianapolis quadrupled its tourism trade and doubled its hotel space during the period 1984–1991, largely by hosting amateur sporting events. Since that period, Indianapolis’ role in the sports arena has magnified. Each major sporting event pumps tens of millions of dollars into the economy and leads to expanded business opportunities, more jobs, and increasing tax payments to the city. Tourism and conventions, including the hotel industry, are major economic factors.
Top-performing companies based in Indianapolis include Anthem Inc., Conseco Inc., Eli Lilly and Company, Guidant Corp., Duke Realty Corp., Hunt Construction Group, National Wine & Spirits, and Simon Property Group. Major employers include Clarian Health, Dow Agro Sciences, Roche Diagnostics, and more than 20 others.
The insurance industry has long been established in Indianapolis; several insurance companies have located their headquarters and regional offices in the city. With the largest stockyards east of Chicago, Indianapolis is also an important meatpacking center.
Items and goods produced: food and allied products, furniture and woodworking, paper and allied products, printing and publishing, chemicals, petroleum and allied products, rubber and plastic products, primary metals, fabricated metal products, machinery, electrical and electronics equipment, transportation equipment, instruments, medical and optical goods, knitted garments, bricks
Nationally, corporate publications and major media outlets have been paying increased attention to Indiana’s pro-business stance. In June of 2015, the Indiana ranked No. 1 for cost of doing business by CNBC, and in May, Indiana was recognized as first in the Midwest and sixth nationwide as the best state for business by Chief Executive Magazine.
“Indiana’s business climate continues to attract investment from around the Midwest and the nation,” said Indiana Governor Mike Pence. “Companies come to Indiana because they’re looking for somewhere to expand with ease and affordability. Our Hoosier workforce is skilled, experienced and committed, and we’re shining the spotlight on Indiana for talent everywhere by building vibrant regions across our state.”
We are actively sourcing acquisitions in Indiana and the Midwest along with our other markets in the west.
For more information on how to get involved with us and be one of our partners, Drop us a line or call us directly…510-863-1447
We would love to hear from you so we can tell you all about one new projects.