New to the Area! (Pittsburgh to Chicago)

[Travis Wilkins]

Hi all! I'm new to the Chicago area and am currently living in Itasca. Moved here from Pittsburgh, PA back in April and quickly found out that the two markets are vastly different. I'm partnered on a 5 unit back in Pittsburgh but would like to find a second property here in the  Chicago area. 

Problem with that is that I have next to zero market knowledge here! The only areas that I've identified that seem to make any sense (compared to what I'm used to) are Waukegan and Zion. Can't help but think that I'm missing out on a ton of opportunity if I were to focus there. 

If anyone has any suggestions or tips for investing here I'd love to hear them. Primarily interested in cash flowing rental properties or a potential live in flip since I'm currently renting. I'm also trying to determine if joining the Chicago REIA is worth it or if I should just find a local meetup through the site.

All advice welcome! 

Go Bears?

[Henry Lazerow]

Welcome! REIA events are great. There are also good Meetups at Dino's Pizza out west and Sully's House in Old Town.

For cash flow in Chicago you got to make it. Find deals with under market rents you can raise, do some updates, etc. You can also force a lot of equity increase once you raise rents with our properties.