I am doing a neighborhood research for 3+unit multifamily investment (my first multifamily investment). I am looking at Berwyn, Oak park and Forest park locations. My strategy is to buy and hold.
Looking for advice from the group on the above locations or other locations to consider.
Hi @Chin Bhatt . You are looking at some good areas to have property in. I just closed on a 2-Unit in La Grange. That's just a few minutes down the road from Berwyn. I'm sure you'll keep hearing this but these great areas have also become very desired areas. That means there has to be some additional work and patience required. That said, depending on what you're looking for you probably can find something that works in the long run.
I suggest you get in touch with @John Warren . He's the best in these areas. He has a bunch of experience investing in these areas. I'm sure he can help you too.
@Alejandro Calixto thanks for the shout out! @Chin Bhatt I would love to chat at some point. There are solid deals out there, but like Alejandro mentioned you have to have a lot of patience. The good thing is that the tenant pool is phenomenal in the western suburbs, and all three of those suburbs offer great opportunities due to the building stock.
@alejandro calixto thanks much for the recommendation and advice. Much appreciated!
@John Warren- Sure, would like to connect and discuss. Will be in touch!
@Jason Marcordes Cicero is a solid rental market. I recently purchased a six unit there, and it has been great so far.
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