New to Real Estate · San Francisco, CA · Member since 2020 · 44 posts · 25 votes
Hey BP, any thoughts on the Molina, IL market? If there are any experienced investors in this market, would you consider this area a good starting point for beginners? My goals in detail for my first deal is below:
-Single family
-Producing at least $100 in cashflow
-Looking for B class property in C class neighborhood (Not looking to do too many renovations)
-Stable area with stable tenants
-This is an OOS property so an area with great and reliable PMs/Agents/Contractors
-Conventional Financing for 30yrs
Not sure if the Molina, IL area meets my criteria. I live in California so any help would be appreciated! Thank you BP community
Realtor · Evansville, IN · Member since 2020 · 61 posts · 76 votes
6y
Hey Josh,
While I don't invest in the IL market, I have seen that IL can be a not so friendly landlord state. Do you have any contacts there at all?
If not, I would suggest maybe looking where I invest. Evansville, Indiana. Im a licensed realtor here and moved here from Oceanside, CA. I used to invest in California, but yikes! those down payments are killers. I work with many investors from California to start building their rental empire here. Most SFH between 14-75k that cashflow on average between 20-30% Annually.
I'd be more than happy to discuss your goals and any questions you may have!