Chicago, IL · Member since 2014 · 7 posts · 3 votes
Hi Everyone!
Hope you're having a great Labor Day weekend. I'm posting here as I'm looking for some North Side Chicago mentors. I am willing (and would prefer) to be a gopher to learn the business of multi family rentals. I am also interested in investing capital with/in individuals within the Chicago Area.
My goal is to learn. I am willing to do tasks that you'd prefer not to do in exchange for some first hand knowledge.
(quick info on me - I have a degree in Finance. Been in tech/ software sales for approx last 7 years).
Investor · Chicago, IL · Member since 2009 · 1k+ posts · 1k+ votes
9y
Buying rentals on the north side is not easy. Most prime areas, the smaller assets break even at best. In markets like this, investors generally bet on appreciation.
Better cash flow is found on the southside and certain suburbs.
Chicago may be a good place to become an entry level landlord. There are lots of 2 flats around. Start by buying an entry level property like this.
Investor · Chicago, IL · Member since 2009 · 1k+ posts · 1k+ votes
9y
Buying rentals on the north side is not easy. Most prime areas, the smaller assets break even at best. In markets like this, investors generally bet on appreciation.
Better cash flow is found on the southside and certain suburbs.
Chicago may be a good place to become an entry level landlord. There are lots of 2 flats around. Start by buying an entry level property like this.
Realtor · Cleveland, OH · Member since 2015 · 2k+ posts · 857 votes
9y
@Brian Ploszay is certainly correct. From my research cash flow on the north side just not there. UNLESS you buy as a primary you can have the other side/tenant pay for your living expenses. Happy to chat more if you like, I'm up by the Brown line.
Investor · Evanston, IL · Member since 2017 · 9 posts · 1 vote
9y
Hi guys, I'm following this post because I'm in Evanston and wanted to start investing again with an eye on the northside of Chicago and nearby suburbs if good enough deals could be found.
@Joe Brummitt I'm not an experienced investor, but do have some experience, can analyze numbers well and know RE tax (I'm a CPA). Feel free to reach out to me with any questions or things you might like to discuss.
@Brian Ploszay do you use any Chicago are wholesalers? If so would you be willing to pass their info on to me? Any thoughts on Logan Square, Humboldt Park and neighborhoods in that general area? Thanks in advance!
Flipper/Rehabber · Chicago, IL · Member since 2017 · 79 posts · 23 votes
9y
@Joe Brummitt We are new flippers on the northside, so not a mentor that you're looking for...but would love to connect and follow your progress. Welcome!