Chicago, IL · Member since 2017 · 34 posts · 9 votes
I've been looking and running numbers for multifamily properties in different markets around Southern WI and Northern IL (I live in Chicago). My grandparents have lived in Rockford for 25+ years and I started running numbers and it looks like it could be a decent market. My perception has always been that it's a little more blue collar but when I asked around, a lot of people have said it's a depressed area and I'm better off sticking to the Chicago suburbs.
My grandparents live north of state and west of Mulford Rd, so that's the area I've driven around the most and it seems OK. Any areas I should stay away from? Anyone have experience investing around here and have good/bad experience?
@Craig Wilcox I’ll look into this! I usually use Trulia’s crime map. Do you find this is better?
I wouldn’t say better, but more detailed. Trulia gives a good overall picture by neighborhood but the crimemapping gives specifics including type of crime and vicinity to the house(s) you are buying (or own).
Rental Property Investor · Oconomowoc, WI · Member since 2016 · 996 posts · 431 votes
6y
Rockford is one of the better markets in the area. Just be advised that Illinois has a fair amount of pro-tenant laws so be sure you research those before you decide to buy in Illinois. Not insurmountable but you just don't want surprises.
Rental Property Investor · Rockford, IL · Member since 2010 · 65 posts · 45 votes
6y
@Corina Eufinger
I have found in Rockford, it is pretty landlord friendly. Evictions only take about a month from start to finish if you're on the ball and give your notice has right away. As for working with the city oh, I have found him to be very reasonable. I don't always agree with them, however we usually work things out.
I have found in Rockford, it is pretty landlord friendly. Evictions only take about a month from start to finish if you're on the ball and give your notice has right away. As for working with the city oh, I have found him to be very reasonable. I don't always agree with them, however we usually work things out.
I concur with Tim 100% - reasonable to work with not obstructionists like other communities.
Chicago, IL · Member since 2017 · 34 posts · 9 votes
6y
@Corina Eufinger - I have a condo downtown Chicago that I’ve looked into renting, I could see how it could easily turn into a nightmare. Is there any Rockford specific things I should be aware of? Are there any good resources for getting familiar with these outside of picking through the official site?
Rental Property Investor · FL · Member since 2016 · 27 posts · 14 votes
6y
Hi, Rachel Stewart Rockford has a lot of great deals that cash flow great but no appreciation at all. Rockford has high taxes and poor schools,a lot of C and D areas, especially west of the river. Tenants there can be hard to deal with and are tough on apartments. You would need to find a great property management team to make it work. I invest in NE Rockford, the Loves Pk. and the Machesney park area. Higher rents and better tenants but its hard to find good deals there, Hope this helps and Good luck.
I get a lot of sub2s in Rockford constantly, Investors love it for the rental income.
I'm new in real estate investing. How would one begin the process of looking for a sub2? I currently live in Lombard, IL and looking for my first investment.