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Updated over 10 years ago on . Most recent reply

Purchasing First RE Property in Chicagoland
Hello BP Nation,
First, thank you for taking the time to read my post. BP has been an awesome resource. I've been reading/researching for about 4 years and really getting serious the last 8 months. My wife and I are moving from TN to the west suburbs of Chicago in February or March and I am looking to owner/occupy my first investment property. I'm looking for a 3/2 with a full basement which can be used as a rental property. I'm also open to du, tri, and quadplexes...and any other options where the numbers make sense. I will be working in Wheaton but would like to be centrally located between there and downtown Chicago. So my questions are as follows:
1) Does anyone have a recommendation for an experienced and credible RE agent and GC in the Oak Park, La Grange, or Elmhurst areas?
2) I’m thinking about purchasing a property and having it renovated prior to our move. Does anyone have experience buying/renovating properties that they aren't able to see on a daily basis? If so, how did you monitor progress and mitigate risk?
3) What other area's in Chicago are safe and/or up and coming?
Thank you for your time.
Respectfully,
John
Most Popular Reply

Hey welcome to Chicago! I am currently in the process of buying a four unit building in the north side of Chicago. My real estate broker is @Brie Schmidt . She specializes in helping investors get started with multi family properties. Hugely helpful to me.
You should get in touch with @George Foster for your general contractor needs. He's not only a contractor but a registered broker, inspector. He has this great software for mapping out renovations. I hope to see you around at the meet ups in Chicago. Good luck on the move here.
I can't really comment on areas that are up-and-coming in the west suburbs. I don't know from experience, but, I've heard that Berwyn is on the rise.