Caleb Drake takes time away from four of his jobs to talk to us about the other one that we plan on doing with him: multifamily real estate investment. We discuss the trends and fundamentals that make Hoosierland an enticing spot to grow the CVI portfolio and give us an excuse to visit Indinapolis and Pawnee. We’re excited to have Caleb on and to get this partnership off the ground and dribbling toward the basket.
After listening to this, you will know two people that have lived in Terre Haute: Larry Bird and Caleb. Sure, Bird is one of the all-time greatest basketball players, but how many properties does he own in Terre Haute? Bet it’s not as many as Caleb. It’s an all new Get Invested.
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Key Takeaways
State-wide, Indiana is showing strong fundamentals—population and job growth, with thriving secondary and tertiary markets and landlord-friendly laws and regulations.
Within the state, more specifically, CVI’s focus will be in the greater Indianapolis area tertiary markets, Evansville, Jeffersonville, and Fort Wayne.
A main driver of CVI’s interest in the area is the same as the reason for the population and job growth: affordability. Units come much lower than in the coastal markets.
In the same vein, because Indiana is not close to oceans or in tornado valley, insurance premiums can be kept low.
The area aligns with CVI’s business values of finding affordable places that can be made both affordable and a great place to live.
The data say that people are now moving to Indiana from other, more dense areas. No longer is the shift just southward. We again go west from the East Coast, it would seem.
Don’t worry, if you’re a boilermaker, you’re still very welcome to join us in this Indiana venture. Don’t listen to Caleb (well, about that part).
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