What about Berwyn and the surrounding towns

Question

I was looking at Berwyn for a multi family. Would that be a good area to start Investing in. Has anyone had a good experience in this area.

John Warren · Answer

@Jesse Banks Berwyn has been a great place for me personally to invest (28 units there) and also for my clients. There isn't much on the market currently in any of the western suburbs that will make sense, but that will most likely change with the new inventory that will be coming online. Keep your eye out for properties that hit 1.2% price to rent ratio or better so that you can afford the higher taxes in the burbs. Also, if a deal looks too good to be true then it probably is! A lot of the properties will require electrical work or other compliance work, and as Jake mentioned, this is something that gets negotiated as part of the sales process.

Brie Schmidt · Answer

@Jesse Banks I would talk with @John Warren

Jake Fugman · Answer

@Jesse Banks I like Berwyn a lot for a good balance of cash flow and appreciation. Prices are reasonable for 2-4 units because there is a solid inventory of MF buildings. Taxes are slightly higher compared to Chicago but much lower compared to other suburbs close to the city.

One downside to note is that they require pre-sale inspections so its a lot harder to get away with any non-conforming basement or attic units.

Peter Halliday · Answer

@Jesse Banks Although I don’t have person experience with Berwyn, but know it’s a great place to invest depending on your goals.

The first thing you should do is figure out your goals. Are you looking for job replacement? You may want to focus more of Cashflow. If you want to keep something on the side, you want areas that don’t get as much cashflow, but are lower risk and less management issues.

If you want a great contact out in the western suburbs, Od definitely connect with @John Warren

What about Berwyn and the surrounding towns

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