I am looking at a multi unit property in Riverdale, IL south of Chicago. I am hoping to get some insight and about the Riverdale area from someone familiar with that area. It seems to be a higher crime area from searching online. But the deal and the number look very attractive, with possible ways to make improvements.
I am relatively new at this and I would definitely appreciate some advice regarding analyzing this deal and area.
@Mikhil A. one of my general contractors works for a large outfit that owns a lot of properties there. That is a high crime area for sure. You will have copper stolen, break ins, lots of evictions, etc. You need to buy the deal CHEAP to make it work down there. I would focus on your management team first, and make sure you can operate the deal before you invest much time in it.