Real Estate Agent · East Bay, CA · Member since 2021 · 10 posts · 6 votes
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!
Specialist · NW Indiana · Member since 2018 · 24 posts · 9 votes
5y
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.
Indianapolis · Member since 2019 · 288 posts · 179 votes
5y
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.
Property Manager · Griffith, IN · Member since 2015 · 1k+ posts · 913 votes
5y
@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.
Specialist · NW Indiana · Member since 2018 · 24 posts · 9 votes
5y
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.
Rental Property Investor · Wabash, IN · Member since 2021 · 18 posts · 15 votes
5y
@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.
Rental Property Investor · Gary, IN · Member since 2017 · 35 posts · 32 votes
5y
@Jarrod Stotmeister is a great authority to talk to if you're looking for turnkeys. I've bought 4 from him. @Adrien S. has a management company and turnkey company among other things, and I've heard nothing but good things about him and his team.
Rental Property Investor · Gary, IN · Member since 2017 · 35 posts · 32 votes
5y
@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!
Property Manager · Gary, IN · Member since 2015 · 66 posts · 60 votes
5y
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.
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?
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.
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?
@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!
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.
Property Manager · Lindenhurst, IL · Member since 2016 · 854 posts · 506 votes
5y
@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.
Specialist · NW Indiana · Member since 2018 · 24 posts · 9 votes
5y
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.