Illinois investing good or bad
I wanted to see if anyone has thoughts on wether or not the Illinois real estate market is a smart place to be investing given the current budget issues?
Most Popular Reply
The negative with Illinois is the taxes. My inventory of rentals are paid off and I still share a decent amount of my cash flow with the county. $150k house in Park Forest rents for $1400. My taxes are $8,000 (I fight/contest my taxes every year). 47% of rent collected goes to my silent partner Cook County. I am seriously considering selling all of my units, and replacing them in another state. That being said, there are lots of renters and buyers here. There is money to be made in any State if you know what you are doing. Best of luck!