Investing in Northwest Indiana Rental Properties

19 Replies

Hi BP Community!

My name is Lily and I'm a new investor from Northern California so any recommendations would be greatly appreciated! I am interested in SFR's or 2-4 unit rental properties in the Northwest Indiana area, off market would be the best. Ideally, the properties would only need light cosmetic rehab, primarily in lower crime areas with a sufficient demand for rentals, preferably C+ or above neighborhoods. My goal is cashflow, appreciation would be icing on the cake.

I'd love to connect with people who have boots on the ground and learn as much as I can while I build my team. 

Thank you so much and I look forward to meeting you all!

I bought some off-market SFRs in Northwest Indiana. I was thinking like you, but they appreciated it quite a bit.

Have you tried joining local groups on social media for OOS (out-of-state) investors? You can usually get put on buyers lists and see off-market deals get posted. Great way to meet local investors and see who is doing what in your chosen market.

Best of luck to you!!

@Eric Richards It depends on goals. We have D areas where you can get great cashflow but minimal appreciation (except this year, even those areas are going up). We have A areas where returns on paper are lower but appreciation is higher and less headaches. I've owned in each area and have my own preferences. My management company manages in each area and those owners have different desires.

I agree.  I currently own 10 properties in NW Indiana and am looking for more now as well.  I have 7 properties in Gary that are all performing nicely.  Definitely a great market to invest in rentals.

@Lily Chen

Hi Lily, I am located in North-Central Indiana, and could definitely help you by being your boots on the ground. I travel north-central Indiana every day and am excellent with market knowledge. Feel free to get back with me if you’d be interested.

Lilly.  Would love to help in any way we can 

We have a portfolio here as well as a  construction management company. Been investing in real estate in NWI for over 20 years and I can tell you it’s one of the best markets in the country. 

Originally posted by @Soh Tanaka :

I bought some off-market SFRs in Northwest Indiana. I was thinking like you, but they appreciated it quite a bit.

Hi Soh! Glad to hear. Any particular areas you think is best for investment properties from your experience? How did you go about scouting for off-market properties? 

 

Originally posted by @Alora Glaze :

Have you tried joining local groups on social media for OOS (out-of-state) investors? You can usually get put on buyers lists and see off-market deals get posted. Great way to meet local investors and see who is doing what in your chosen market.

Best of luck to you!!

That's a great idea! Thank you so much Alora!

 

Originally posted by @Jarrod Stotmeister :

I agree.  I currently own 10 properties in NW Indiana and am looking for more now as well.  I have 7 properties in Gary that are all performing nicely.  Definitely a great market to invest in rentals.

Wow Jarrod, that's impressive! I'm debating between SFR or MFR. What are your recommendations?

 

Originally posted by @Caleb Teachout :

@Lily Chen I have a small portfolio of rentals in NWI and looking to buy 10 more this year. Happy to chat any time. Some heavy hitters in this thread already. Definitely recommend reaching out to them. Best of luck!

 Hi Caleb! Would love to connect, added you.

Originally posted by @Tom Olson :

Lilly.  Would love to help in any way we can 

We have a portfolio here as well as a  construction management company. Been investing in real estate in NWI for over 20 years and I can tell you it’s one of the best markets in the country. 

Hi Tom! Great to hear. Look forward to connecting with you. 

@Lily Chen "Best area" means different things for different people. I personally like NWI because of the availabilities of properties, cash flow, appreciation, and favorable laws. That said, I don't think I'm smart enough to predict the future, so I like to buy in different areas. 

Hey, Lily. Both SFR's and Multi's can be very productive in our area. That being said, there is high demand for multis representing only 7% of dwelling units in our 6 county market. We will generally sell anywhere from 5-10 multi-units a year to our clients with the remaining being SFR's.