Question for Chicago B&H/Cashflow Investors

4 Replies

Good evening,

I was checking out www.padmapper.com and looking at units currently for rent in my area, as well as the amenities they are currently offering. I have seen some units just posted today, and some that have been posted for 19+ days. Before I pick up the phone and start calling some of the local land lords in my area, I would like to know how long are some of your rentals sitting vacant? I want to get somewhat of an idea of how the Cook County market is performing with rentals. I am also interested in how Section 8 rentals are performing as well. 

Thank you in advance!!

Christopher M., Real Estate Agent in IL (#475163570)

My vacancies sit due to things I need to do or time I need to take for the renter I'm most comfortable with. People are constantly trying to rent them.

I have a 3 flat in Irving Park and haven't yet had a problem finding good tenants within a week from posting. 

The Cook County rental market varies widely from neighborhood to neighborhood. What particular areas are you interested in?

@Joey Nakayama  I have been looking at properties in northern part of cook county. I am not sure that i want to continue to search for properties there any longer because the taxes are extremely high. I can not seem to locate any properties that give the cash flow i am looking for. Do you have any suggestions? Thanks

Christopher M., Real Estate Agent in IL (#475163570)

Christopher M. I'm in a similar situation, looking to acquire another multifamily this year. The areas of Cook I'm personally familiar with don't produce cash flow numbers that make sense for me. There are definitely areas where the numbers look fantastic, but they come with risks and unknowns I'm not yet comfortable with. I'm committed to getting educated and more comfortable, though. There's a great community here for that.

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