I'm in the process of researching potential farm neighborhoods for my first fix and flip in Northwest Indiana. I'm narrowing in on Hobart, mainly near Lake George and a few other pockets. Based mainly on MLS-listed properties, it seems to have plenty of potential flip properties, the pricing
differential from pre-rehab to post-rehab appears
As I was saying, the pricing differential from pre-rehab to post-rehab properties appear to support profitable opportunities, and that's just from the MLS. The neighborhood has good amenities in terms of a moderately thriving downtown area and the lake offers a nice backdrop and recreational activities.
Does anyone have any experience with REI in Hobart or any insights to the area that could confirm what I think I'm seeing?
Is there any particular reason you're limiting yourself to Hobart? Crown Point and Mville also have good properties s well as the nicer towns west in lake county.
Northwest Indiana is a great market. @Adrien S. can probably help you locate some good properties. Make sure you do your due diligence on the area before hand like it sounds like you are. (There are some parts of Hobart I wouldn't flip personally)
Please let me know if you have any questions. I always love touching base with other investors in the area.
Appreciate the feedback.
I live in Valpo and work in Gary, so we started looking in Valpo, Chesterton/Porter, Portage, and Hobart. As far as I can tell, Hobart seems to be the best option so far. Also, we moved here from PA 2.5 years ago. Not knowing the area very well, we're looking to start with small farm area.
Hello @Michael Sattler I own a home in Portage and have been here for a little over 4 yrs now. We like the town but it doesn't have an actual down town, however they are working on changing that. And there has been a ton of new business growth here as well. Hobart is great, if you find the right area but that goes for any town really. We almost bought a beautiful house there near the hospital, but then realized a lot of run down homes on the same street. I would rather live in Valpo, Crown Point, Hobart, or Chesterton. Best thing I can say is start hitting the streets in your spare time.
I vote Chesterton...but I'm bias. Good luck on finding that flip. Let me know if you need anything.