Anyone investing in Illinois?

[Rafael Pinho]

Hi all, I'm looking to invest in BTR, spec or rentals in Illinois (specifically Bloomington-Normal, but will consider other locations) and would love to connect with other folks investing in IL.

[Travis Timmons]

It depends on what you're looking for...my perspective is that leverage + appreciation is what makes real estate worth the hassle. There just isn't the market appreciation, population growth, or job growth in the area to make me take a hard look. 

The low entry price is tempting, but my opinion (usually unsolicited but not this time!) is that it makes more sense to invest in a market that will have greater rent and price appreciation over time. I also think that the average rents aren't forgiving enough to offset normal capex. A roof is still 10-15k whether you rent a place out for $900/month or $2900/month. 

If you are in Iceland/Spain, though, I can get behind investing in any market that you have trusted friends/family locally. This is a hands on business, and having family that you trust in the area is a big deal if you are that far away. I like Champaign-Urbana a bit more, but the thoughts above still ring true (and property taxes are a real headwind to appreciation).