Advice for MFH in Chicago
Hello all,
New to the BP community and already finding it a wealth of knowledge. I've lived in Chicago for almost 20 years and just getting into real estate. My day job is in performing arts management but I've always been interested in real estate investment and have decided it's time to take the plunge. I don't think it's a secret that the Chicago market is difficult to find a deal in, but I'm not interested in looking out of town, especially as I get started. Interested in any thoughts from those of you who know the area about what neighborhoods are prime candidates for a MFH. The areas where I'm seeing cash flow seem to be mostly C properties with some serious work needed, or in areas with serious crime. I'm happy to invest in improvement, but concerned about fundamental issues with the buildings that may be more difficult to address. And buying in the middle of gang warfare also doesn't seem a good option! The northside of the city (where I live) seems like it's priced too high for deals these days.
Would appreciate any insight from those of you who know the area!
Thanks,
Chris