All Forum Posts by: Zak Chariton

Indiana is very landlord friendly and great for investing. Look into Indianapolis areas and Northwest Indiana. Indianapolis has several great areas for investing in the city and surrounding suburbs. Northwest Indiana is roughly 30 minutes outside of Chicago and has seen a lot of growth recently with several IL residents moving over for cheaper housing and taxes. I invest in both areas and would be happy to answer any questions or point you in the direction of some great team members that can help you out.

I would always recommend using an LLC to protect yourself. It's not necessary in all circumstances, but usually makes sense. If this is you're first investment property and you're buying it in you're personal name, I would say you're ok not having an LLC. However, if you have a couple other investments I would form an LLC and use a DSCR loan product or something similar to close the loan in the LLC. Generally though, more protection is better than no protection.

Also, I live and invest in the NWI area and I can refer you to a local attorney for LLC questions or help point you in the right direction. Shoot me a message and we can connect.

Great read and great comments. Thank you for sharing!

Hey Anthony! Congrats on getting started in investing. I am from that area and actually have some long term rentals and have done flips in the Hammond area. I'd be happy to connect with you and possibly even partner up on a deal. Feel free to message me and we can talk more.

Cash out refi or 1031 exchange are both decent options. Personally, I would look into using creative finance. Try to sell the properties you would like to get rid of on seller finance. Ask for a down payment that you can then take to invest elsewhere and then you will also still be receiving monthly cash flow coming in on the seller finance payments. This also will defer tax obligations as well.

 I agree. From reading through, it seems you may not be ready to jump into investing quite yet. Maybe spend the next year coming up with a very specific plan of action on what you want to invest in and where and how you're going to do it and then work towards the goals. In the meantime, focus on improving your income, spending less/saving more, improving your credit, and eliminating as much debt as possible. I would also explore other markets when developing you're plan. I live just outside of Chicago and its a pretty expensive market to get started in, especially when you are limited on cash/credit. I do a lot of investing in northwest indiana. There are plenty of areas you can buy at a much lower price point and be cash flow positive and get you heading in the right direction. Of course, that wouldn't be a house hack situation, but may be a better scenario to get you in the investing door. Reach out if you need any help or wanted to discuss more.

Hey Kevin! I’m a relatively newer investor and am in the NWI market. I’d love to connect and discuss some real estate. Always looking to meet new friends and grow my network. Look forward to hearing from you.