Good areas for rentals and flipping
Hello,
My name is Rahul. I'm a new to the Bigger Pockets community and have been getting acclimated to this site and its member’s by reading posts and listening to podcasts. So far, everything has been entertaining and educational, and I look forward to continuous learning and networking while here!
I have recently started investing in the Chicagoland (Illinois) area and would like to know if people can share their thoughts about what are some of the hottest areas for rentals and flips? Thanks!
Most Popular Reply
@Rahul D. Welcome to BP....you will find this very useful and helpful...
With regard to your question I will agree with @Reginald Pintang and @Dhru Das.
Definition of 'good area for investment' is very subjective because it can be defined based on multiple factors such as Cash Flow, ROI (for fix and flip), appreciation rate, safety/crime rate etc.
Of course it largely depends on your long term goals. I am bit conservative person and don't feel comfortable investing in C Class area, including South Chicago. I've been investing in Western suburbs (Glendale Heights, Naperville, Wheaton, Bolingbrook, Plainfield, Aurora) and so far lucky to get reasonably good deals (getting more and more difficult though). With regard to multifamily, it is real tough to find a good one in B Class area.
If you don't have much experience in RE, I will recommend to start with A or B Class area. First experience is very important because it will make you feel good about your deal and increase your confidence. If your first tenant or first property turns out to be bad, you will 'hate' real estate....