Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 1 year ago on . Most recent reply

User Stats

3
Posts
2
Votes
Huzaifa Ahmad
2
Votes |
3
Posts

Investing out of state near a hospital

Huzaifa Ahmad
Posted

My cousin recently started medical residency in Springfield, IL and the houses there are cheap enough that I can buy them in cash (which is important for me since due to religious reasons I can't get a loan/deal with interest.) I'm considering buying my first investment property there (I live in CT) since I have someone on the ground there who has offered to be my "man on the ground" and will be there for the next 4 years. She's willing to go to open houses and has let me know that her fellow residents live in duplexes and which areas are up and coming etc. 

I haven't really run the numbers yet (because I'm still learning how to) but if they're favorable would investing here be a good idea? How do I find out if Springfield, IL is a good place to invest? Per Zillow there is 4% appreciation of houses over the past year. Additionally, I'll have relatively stable tenants from the hospital as well with turnover every 3-4 years.

Loading replies...