All Forum Posts by: Eudith Vacio

Hi @Artem Shum, I second what Adrien said about NWI in terms of appreciation and also the nightlife in Chicago. I myself live in Chicago and invest in the southwest side near Bronzeville area. It depends on what you are looking to do? Live your life with your GF, or build a family in terms of enjoyment? In regards to investing, I would not rely heavily on appreciation at this point in time.

Hi @Reed Meyer, welcome and you're in the right place for all of your questions. You have a wonderful plan of house-hacking but possibly not in the best area, if the idea is to cash-flow on the property. To reference what @Xavier Torres, I would highly recommend looking in the south side of Chicago near McKinley Park/Bridgeport area. Still relatively close to downtown. Then, maybe move to the north-side once you have enough reserves to tap into, and more capital to potentially add value to the property. 

@Crystal Smith great call out and very useful information for those that want to get started in fix and flips. 

@Samuel Pavlovcik do you have an idea of which neighborhood you want to focus on? I have a realtor that does his own fix and flips, if you want me to connect you with him.

Hi @Carl LaPiedra, kudos to reading books and informing yourself as a future investor. Knowledge is POWER.

Where there is a will, there is a way. @Aaron Zimmerman mentioned long distanced real estate investing, which can be a viable option for you. Another option maybe  be seller-financed deals. Especially in our market today, with COV-19 and people losing their jobs, this may be the most opportune time to take time and learn about negotiating seller-financing. You can take over someones mortgage that cannot pay. Biggerpockets has books on this, as well. OR you can wait to see if real estate comes down slightly over the next few months and tap into NY. 

Make sure you have reserves or some capital to start with. You can always use hard money lenders, however if its your first attempt, I would partner with someone who is knowledgeable in this area. 

Goodluck on your future endevors!

Hi @Alleia James, I love Chicago suburbs. Oak Lawn/Chicago Ridge/Crestwood are great. It may take time to find a building out there, but when you do it goes fast!

Hi @Stephen Taylor mobility score, is it close to transportation? Are there more renters than owners? Crime rate, population migration, rent rates. Thats very important, some people mess up on rent. Make sure you budget conservatively for rent but market high - some people offer lower rent but may want to offer higher rent and wait a little longer

@John Warren - might be helpful?

Hi @Stephen Taylor - absolutely! South side like South Shore. I would select a few neighborhoods you want to invest in that are close to you if you plan on rehabbing. Then start running the numbers and determine if it is a good deal or not. BP has a calculator you can use or export into excel. hope that helps!