I currently live in NJ and looking to purchase a rental property in Indiana.

[Xavier S Lopez]

I currently live in North Jersey and it is near impossible to get started on investing in real estate here. At least with my current income. I have been looking into the Midwest/Landlord friendly states and settled on investing in Indiana. My goal is to have monthly positive cash flow and long term appreciation. I do not have 6 figures in capital to invest but I have a decent amount. I am visiting Fort Wayne, Indiana next month to scope out the city and look at some potential multi family investments. I have been reading several books and listening to many podcasts on real estate. 

What are your opinions on Fort Wayne, Indiana? 

Do you recommend partnering up instead as a rookie investor? If so, where do you recommend networking with other highly motivated investors? 

I am a highly motivated rookie and any tips will be greatly appreciated!

[Shawn Mcenteer]

Hi @Xavier S Lopez I see this situations frequently in New Jersey. Many local investors come to me thinking they do not have enough to invest in NJ.  I will let you know it is rarely the case if you are open to house hacking.  $100k liquid cash will get you $400k property leaving you with zero left over OOS.   $100k in New Jersey is all I had to my name when I first started,  I  used a low money down loan purchases $500k property and turned it into an $800k property, today it is valued over $1.1m.  I see new investors every month doing this strategy with as little as $50k.  Best part is there are ways to get cash flow on day 1 in New Jersey.  

Long story short the myth of New Jersey not be able to cash flow is simply not true.  On top of this I am over 10 years in as a landlord without a single missed payment of rent and 0 evictions.

There are many more perks of staying local from lending, property management,  and most importantly fast tracking yourself to property number 2.  Making $300 per month off of an OOS property will take a long time to get to second deal.