All Forum Posts by: Anupam Desai

Thanks all. 

So @Mark Ainley you're saying to buy twice as many units with my money, to diversify and lower risk? Sounds reasonable except the idea with buying higher end was to reduce the number of units I have to manage. I suppose your vote would be for a property manager then. 

@Jonathan Klemm, you mentioned you like the idea of condos now because everyone is moving out, the idea being that eventually people will tire of the suburbs and move back in? That's what my wife keeps saying, and she generally seems to know what's popular before it's popular. I'm trying to get her to pick stocks. 

@Henry Lazerow appreciate your input. This is one of my fears, that a new construction building someone else is taking the upside potential, so that would leave me with a thin margin, which would be okay if things are stable, but also considering whether to look for more safety in case the market turns south.  

Hi all, I'm considering a move to Chicago and interested in hearing people's opinions of luxury condos in a prime location like East Lincoln Park. What I had in mind was relatively new construction places, 3/4 BR in a boutique building, maybe 1-1.5m range. It looks like rents for such a place might be around 6-7k. The reason I'm interested in something like this in particular is to keep the number of units I'd own down and have low maintenance and low fuss, reliable tenants. My day job is pretty busy plus the two young ones...leaves little time for managing properties. I anticipate returns would be lower on such an investment, which I'm willing to accept to a point, but am I generally better off paying a property manager and going to a different part of town? Thanks!