All Forum Posts by: Robert P.

 Not sure how one defines desirable but within a 100-mile radius of Chicago I recommend:  Bensenville, Berwyn, Calumet City, cicero, Elmwood Park, Evanston, forest Park, Joliet, Melrose Park, South Elgin, Summit, Worth, Alsip, Aurora, Harwood Heights, Homewood. Those are still in Illinois. 

Once we get outside of the Chicagoland area one of our criteria for potentially pulling the trigger on a multifamily purchase is the county's population size.  We explored Indiana a few years ago.  The counties we target in Indiana are Marion, Hamilton, and Allen.  We never explored making a purchase in Wisconsin but if we did we would target Brown, Milwaukee, Dane &  Waukesha counties.  Our criteria, the county population has to be 250K or more. Most of these will be outside of your 100-mile radius.

@Robert P. what is your price range? You can normally find the price range you want here unless you are looking for something dirt cheap. In the Chicago area, your ability to be near the property will normally allow you to do better than going out of state on smaller deals. This might change if you are using a 3rd party PM on larger deals, but most owners I know do well by being involved somewhat in the property (even if they use a PM). 

Indianapolis. Lower taxes. Much more friendly landlord laws. Great market with a lot of Chicago relocation and a healthy renter pool! A ton of properties that still meet the 1% rule. I would argue the appreciation will be a lot better than Chicago too. 

I found this, what do you think? Kendall County, Illinois

I am researching where to invest (2-4 unit here also, budget 400-500k) and this was one of the  best places with a decent cashflow! Would be happy to dive deeper into this with you!

@Robert P. is there a particular reason you want to invest out of state? You are in Naperville, which is a very desirable area. You have multiple submarkets within a 20-30 minute drive where you can find multi units that make sense. You would either head closer to the city to the burbs that are in the Chicago sprawl or you would head west towards Aurora or Joliet maybe?