Chicago suburb: My first investment

[Sam Tomar]

Hello all,

Since California RE is getting out of hand, I decided to do a small investment in Schaumburg/Hoffman Estate area. Can you please chime in if this is a reasonable investment in that particular part of Chicago suburb. My offer just got accepted, and deal expected to close by end of July.

Property type: Condo (3bd/2ba) 

Purchase Price: $145,000 (cash deal)

Rent: $1500/month

HOA+Taxes+Insurance etc : approx $750

School ratings are good.

Is this a good investment?

[Mark Ainley]

@Sam Tomar both Schaumburg and Hoffman have rental license programs through that village so be sure to account for that. Also many HOAs have rental caps so be sure you know what that looks like. Feel free to DM me as we manage a unit now or in the past in almost every HOA between the two cities. Talk soon and know these are great areas.