Hi! New Investor considering section 8.

[Edward Pang]

Hi, I've been living in the Chicagoland Area for 4 years now and am considering investing here. Currently living in Bridgeport and was trying to find a multifamily to house hack, but most seem to be too expensive with the property tax here. I was also looking into renting in Section 8 because there are some potential units in East Side, Chicago and both Bridgeport and East Side are considered "mobility areas" for section 8 which has added benefits for Section 8 landlords.

I'd like to network with others in the area and learn about any experiences you guys have had with investing in Chicago and learn more about Section 8. I look forward to learning and hearing from all of you!

[Jake Fugman]

@Edward Pang  Welcome to the investor pool! House hacking is a great way to leverage low cash down, but like you have discovered the buildings in B+ areas like Bridgeport are pricey and make cash flowing tough.  IF you are willing to live a bit outside of Bridgeport but still on SW side in decent mobility areas - I would recommend considering Cicero or Berwyn for a house hack where the #s can work well. 

Section 8 is potentially great for cash flow from day 1 but you will need to put 20-25% down on pure investment properties with most loan packages.  If that's not an issue I would say that the most important part of building wealth with section 8 isn't necessarily finding the deals, but more so finding a great property manager.  Feel free to PM for a connection.

Good luck!