This week’s episode features Alec Neu and John Hornbuckle of NEU Real Estate Group. This development company is reshaping the multifamily landscape in downtown Indianapolis for having built and sold nearly 200 new-construction duplexes and quadplexes in just two and a half years, and now setting their sights on Fort Wayne and Muncie.

They pull back the curtain on how NEU identified a massive gap in Indianapolis's housing inventory, a city starved of new multifamily products for decades, and built an entire business around filling it. This conversation also goes deep on Indianapolis's workforce housing crisis, the rise of mid-term rentals as a smarter strategy for investors, what today's tenants actually expect compared to five years ago, and what it takes to work hand in hand with city governments to solve housing shortages at scale.

EPISODE HIGHLIGHTS:

• How NEU Real Estate Group has built and sold nearly 200 new-construction duplexes and quadplexes since 2022.

• Why Indianapolis has been starved of new multifamily inventory for decades and why that created an enormous opportunity.

• The three core metrics Neu uses before acquiring any land parcel.

• How they evaluate 50 to 100 properties a week to buy two to three land parcels.

• Why Indianapolis offers investors both cash flow and appreciation.

• The workforce housing crisis facing Indianapolis and surrounding markets.

• Expanding into Fort Wayne and partnering directly with the city of Muncie on free land.

• The rise of mid-term rentals and why it bridges the gap between short-term headaches and long-term stagnation.

• How tenant expectations for finishes and quality have completely shifted since 2018.

• The creative leasing tech and no-show fees Intrigue uses to reduce friction and fill units faster.

• What it really takes to work with city governments (the red tape, the inspectors, and the rewards).

• Why Indianapolis is still undervalued — and what $28 billion in economic development means for the future.

Make sure you’re locked in for next week’s episode! We’re keeping the momentum going with more insights, real stories, and strategies to help you build your real estate business. Hit subscribe, tap the notification bell, and don’t miss what’s coming next.

The Circle's Founder (Ryan Rominger) and Director of Operations (Stuart Smith) discuss what’s happening in the world of Real Estate Investing, Property Management, and running a small business based in Indianapolis. The show focuses on the Central Indiana real estate market, but also explores beyond the Hoosier state to gain intriguing insights in the world of business and real estate investing. We interview our favorite influential people from across Central Indiana (and beyond) to learn from the people having the biggest impact on our market.

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