Considering in the next year buying a duplex or triplex in Whiting IN and renting out the other units while living in one for free and hopefully still cash flowing a bit. Any issues or concerns with this area? Good purchase price per unit? Another area I looked at that has some duplexes under 100k is Humboldt Park in Chicago about 5 minutes west of where I live now (Wicker Park) but unsure of the safety aspects/tenant quality? Seems it is very block by block and could either appreciate or depreciate. Would not want to live anywhere I could not safely walk dog at night, etc.
I drove through the Whiting area last week and by the water it looked very nice. Lots of newly rehabbed houses. Beach in walking distance. Only 20 minutes or so to city.
@John Mathewson You did a flip here right? What did you think of the area did you guys ever look at rentals here?
Very solid area. Have invested there for past 6 years. Whiting has a very old housing stock. While you are right to mention the new developments near the lake the bulk of the housing is in need of repair. This allows you to get these properties at a fairly reasonable price. I would say something in the range of $40-55,000 a unit is what you're gonna find.
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