Is Illinois good, bad or average for investing?
I wanted to see if anyone has thoughts on whether or not the Illinois real estate market is a smart place to be investing given the current budget issues?
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@Dave Cieslicki a lot of BP folks are down on Illinois, and I am sure you will get a bunch of responses about all the negatives. I live and invest in the near southwest suburbs of Chicago (Berwyn, Oak Park, Brookfield). Not only is this a very nice area to live, but this area is a very strong rental market with a mix between cash flow and appreciation. Many areas of the Midwest are totally flat when it comes to appreciation, so it is nice to get the lower "Midwest" purchase prices, but still see healthy appreciation.
At the end of the day, I stress test each property I buy to make sure I can handle a tax hike, etc. So far, I have been very profitable with my Illinois properties.