With no property taxes, where would you buy?

[Tyler D.]

Hey BP,

I'm in a fortunate situation due to being a disabled veteran, where I am able to buy 1 property that will be completely exempt from property taxes. Seeing that Illinois has very high taxes baked into the price of its properties, I thought that this might be the perfect place to do this. I would need to live in one unit, so I'm thinking a 2-4plex would be the best way to use this benefit.

I don't know much about Illinois, though I did live near Chicago for some time. Where do you think would be the best market to take advantage of this opportunity?

[John Warren]

@Tyler D. I would buy a three or four unit in Oak Park. Oak Park has high property taxes, but if you cut them out of the equation then the high rents would be very attractive. You also get a strong location with an incredible tenant base and great schools.