Out of State Investing in Northwest Indiana

[Ben Osran]

Hey BP,

I am about to graduate college and am looking to invest in my first buy and hold rental property. I am mostly interested in buying a SFR for my first one.

I have been looking at NWI because I have a lot of family in the Chicagoland area. Indiana seems to have a much lower cost of entry, property taxes, while still being close to Chicago.

I would love to connect with other investors and/or agents, to get a better idea of the different areas, and possibly connect me with other potential team members.

Any advice would be greatly appreciated!

Thank you

[Scott Swanson]

Ben,

There's many things to consider. What price range are you interested in? Are you looking to finance a deal or pay cash? Are you interested in managing it yourself or do you need a property manager? What is your minimum profit amount? The overall prices in Indiana and taxes are less than Illinois. The rents are slightly lower but the profit is definitely there. There are still a few areas in the south suburbs where you can find good deals as well. Indiana offers a wide array of good rental properties and at reasonable prices.  Knowing what your specific criteria is, is critical to where you invest. I hope this helps and best of luck to you.