Chicagoland deals, where are they at?

Question

Hi everyone! I am newer to the website and am loving all the information. I’m located in the suburbs just west of Chicago. I was wondering if anyone has been finding any good deals on multi family buildings in the Chicagoland area lately? It seems like everything is flying off the market at a high price!!

-Athina

Chang Hee Lee · Answer

@Athina Margaris So as an equities investor, that thought sounds synonymous to stock traders trying to time the market. I know because I've tried to do it multiple times and it does not end well. Humans are terrible at predicting and therefore one comes to the conclusion, then why do it at all? And because that's the case, there is no best time to enter the overall real estate market as long as your intent is long-term. Trust me, it works and there are ALWAYS deals (even in this bull market, there are still undervalued equities & properties, believe it or not).

With that said, much of my activity is off the MLS so properties and owners I work with don't appear online. If you'd like to PM me, I can try to point you toward some multi-family buildings that might interest you! Good luck! :)

Athina Margaris · Answer

Thanks!! Valid point. Yes the percent rule deals or cash flow deals.. it seems like they aren’t really out there right now. I’m not sure to wait till somthing adjusts with the market or to jump on somthing decent now.

Chang Hee Lee · Answer

Hey Athina,

What do you consider a deal? I find that this can be a little subjective depending on what criteria you follow such as the 2% rule for example (so far, no multi family properties pass that rule but then again, markets are high right now). Not really much of an answer to your question but definitely something to think about.