Newbie Looking to invest in Chicago

[Kitty Lee]

Hi,

I'm a newbie investor that's been presented some potential opportunities in Cook County, Washington Heights, Fernwood, Englewood area for rental.  Can anyone help me understand these areas?  

I've also heard that property taxes has been on the rise in exponential percentages, is that true?

[Eric M.]

Originally posted by @Kitty Lee:

Hi,

I'm a newbie investor that's been presented some potential opportunities in Cook County, Washington Heights, Fernwood, Englewood area for rental.  Can anyone help me understand these areas?  

I've also heard that property taxes has been on the rise in exponential percentages, is that true?

 Newbie investor + out of state + hasn't been to south side chicago = money in flames.

There is no substitute for a visit in person to the neighborhood. It is imperative before investing. Saying "area" is your first issue. Acceptable vs unacceptable area to invest in is a block by block proposition in these areas. You cannot make a decision based on Washington Heights, let alone the area of Washington Heights. Its a block by block decision partly depending on which gang controls the block.

Property taxes will only go up, the increases are not exponential.