Chicago 2-Flat Investors: How do you make the numbers work?

[Bradley A.]

Chicago area investors buying 2-flats -

There’s no shortage of classic Chicago 2-flats for sale around the city’s many neighborhoods, and if you’re willing & able to buy and renovate in a rougher area I can see how the finances may work, but I’m having loads of trouble making the numbers work in more desirable areas.

Are there any Chicago BP users buying 2-flats in areas like Wicker or Humboldt Park, Bucktown, the Milwaukee corridor up through Avondale, or West Town/Ukrainian Village?

The numbers seem way too tight for so many of these small, two unit buildings.

If you’re out there and willing to share, I’d love to hear your strategy or process for these properties.

[Brie Schmidt]

@Bradley A. - don't buy a 2 flat, the numbers don't work.  Not only that, in most of the areas you mentioned the loan limit would require too much upfront capital.