I'd like to get some opinions on the markets with the most potential in the US as far as appreciation and long term growth.
That's an easy one - Tampa, Fl.
Although I admit I am very biased...
I think you are in the right place: Chicago, the 6th wealthiest city in the World! My opinion: Choose to invest in the neighborhoods that expect a lot of appreciation soon: West Loop, West Town, Logan Square, Humbold Park, Pilsen, South Loop and directly south between South Loop and Hyde Park around the lake.
Your own back yard. Unless you are a large investor, I believe that focusing on areas you know very well and understand the local market dynamics, you are chasing yield at the expense of risk. In my local market (Jacksonville FL), I cover 20 zip codes that have opportunity for short term (flip) and long term (buy & hold). Unless you know each of these areas in detail, you are relying on the advice of others. Caveat emptor!
Greetings from a fellow Chicagoland investor !!! Since your from the Chicagoland area, I believe your in a very good place to invest (the hub of the Midwest). Investing in your own backyard has a ton of benefits in regards to travel costs, networking, and 1st hand knowledge of your local market ecosystem.
It is also helpful in keeping an eye on your investments and property managers ;-)
Stay warm !
@Lumi Ispas I am curious as to the neighborhood you picked. I am looking to purchase some properties in Chicago and would love to get some more information to that I can target my search.
@Deeb Dweik I am buying in West Loop right now, have contracts in Logan Square, West Town and Albany Park and looking for properties in all the above mentioned neighborhoods.
With the interest rates on the rise, I will get as many mortgages as I possible. :)
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