Illinois investors anyone?

[Nithin K.]

I am wondering if there are people on here who had success investing in Illinois? I live in Illinois, suburbs of Chicago. The high property taxes , negative population growth all had me rule out Illinois as a potential place to buy an SFH as a rental property. But due to the slow pace and difficulties that comes with finding the right SFH investment in another state, I am having a rethink. Plus me being a first time investor, all the advice is to look out local. So anyone here who had success in buy and hold around Chicago? Or even a BRRR? Anyone investor friendly agent/ contractor or property management that you can recommend?

[Rob M.]

Hi Nithin,

I have done a few flips in the southwest suburbs and I can safely say that there is money to be made in Illinois if you do it properly. I'm now moving in to BRRR after taking the time to be sure I learned a plan that will work. Don't try and invent some new system or method of making money - simply follow someone that is doing it successfully to be successful yourself. The key in any method (flips or BRRR) is learning how to find deals and buy the properties at the right price. I would suggest you do some serious networking regularly by looking up local meet ups to talk with others that are doing REI successfully in the area you want to work in. I meet people that are making what I consider a small fortune (over $500k a year) routinely at local method. Another tip for you: steer clear of the so called "gurus" or groups that want to sell you property on their tours. The information they sell can be found for a fraction of the cost online or at meet ups or even some courses that are much cheaper if you do the homework to find out where to learn. Don't give up...success only comes to those that persevere...Good luck!