First multi-unit property (house hacking)

4 Replies

hello there!

I will be putting a offer on a multi unit (4 unit) in Brighton park.

A little nervous,just wanted to know anyone's thoughts on the area as far as rental income investment.

@Matthew Olszak Has some experience in those areas. I believe he's mentioned to me that Brighton Park has a similar tenant base to Little Village. I believe that LV has more potential upside for appreciation and future growth. That's pure speculation on my part but you can look at Little Village + Gentrification. This would be the 606 trail, new coffee shop, etc.

Congrats. I'm looking at possibly buying a 3 flat in the greater crossing area. I've been scared to pull the trigger wondering if I'll lose my profits in loss of property value over time.

On the other hand, the west suburbs have better growth in value but smaller returns... what to do...

Originally posted by @Omar Castro :

hello there!

I will be putting a offer on a multi unit (4 unit) in Brighton park.

A little nervous,just wanted to know anyone's thoughts on the area as far as rental income investment.

Hi Omar - Nice job pulling the trigger on a 4-unit! Brighton Park isn't a super-exciting area for me personally, but I'm sure as you've seen there are opportunities. Just be careful with your rent comps. I've seen a number of listings claiming rents you'd get further East, but market rate is usually much lower. If the numbers work for you though go for it, the neighborhood has a solid rental base that usually stays long-term, and 4-units are becoming harder to find.

Matthew Olszak, Real Estate Agent in IL (#471019601)
847-447-6824

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