Investor · Lake Zurich, IL · Member since 2017 · 38 posts · 14 votes
Hello All (Experienced Multifamily investors in particular) I am a buy and hold single family investor (so far) on a scale up mode, I am close to buying small multifamily in Chicago suburbs, I have a couple of deals under consideration. I am trying to gain some experience and build credibility with smaller multifamily so I can graduate to larger properties. I have educated myself well and good at crunching numbers, but I lack the procedural experience that comes with deal making when it comes to multifamily. Are there experienced investors willing to partner or guide me through, if you are experienced in owning multifamily RE, please contact me and we can discuss how I can make it worth your while.
Real Estate Broker · 3412 S. Harlem Avenue Riverside, IL 60546 · Member since 2015 · 6k+ posts · 5k+ votes
8y
@Ranga Ramanathan which suburbs are you investing in? I grew up in the far north suburbs around Zion/Waukegan, but now live near the Brookfield zoo in the near southwest suburbs. Chicago is a huge market, and all the sub markets are a bit different.
Investor · Lake Zurich, IL · Member since 2017 · 38 posts · 14 votes
7y
@John Warren
Hello John, i invest in Milwaukee area, this one is in South side of city of Milwaukee. Thanks
I primarily look in northwestern suburbs in Chicago atea but haven't found a deal yet, property taxes too high.
Real Estate Broker · 3412 S. Harlem Avenue Riverside, IL 60546 · Member since 2015 · 6k+ posts · 5k+ votes
7y
@Ranga Ramanathan I am with you on the property taxes. I am still cautiously optimistic about the Chicago market, but you do have to underwrite for property taxes to go up substantially in the year post sale. I stress test all of my deals to make sure they can still hit my target returns based on the assessment calculator the assessor uses.
Park Ridge, IL · Member since 2019 · 8 posts · 1 vote
7y
@John Casmon
I’m looking to make my first investment in the Chicago suburbs (multi-family unit) and need some guidance on narrowing down a target market. I would appreciate any guidance you have.
I watched your interview with Brie on FB, very helpful.
Attorney · Northbrook, IL · Member since 2017 · 719 posts · 549 votes
7y
@Account Closed John can speak more to this, but it really depends upon your target cash on cash return, cap, and type of property you want to purchase.