All Forum Posts by: Jeff Burdick

Yes sir. They have been warning of corrections in real estate in hot markets for awhile now...also a correction in the stock market is very likely. Those two looming clouds would send me to do as much as possible to protect my gains. Either of the two scenarios would drop prices in SF. It's just my two cents. Something to think about. Every market cycles. The smart ones just continue to buy low and sell high. I am currently looking at my exit strategy for some Chicago properties. Everyone is saying how the boom is just starting but I bought a duplex in a really nice area for $280k in 2012. I was told to list it for $875K yesterday. I will take that bird in the hand any day. I will 1031 that gain into multiple cash flowing apartment buildings in secondary and tertiary markets. It may be another year or two before Chicago cycles again, by then I will have more money and hopefully be able to buy up the MF's that all the new investors lost at this newest bubble burst. Perhaps I will even branch out to a couple other cities that are down too. Who knows. What I do know is that, like the tide...you can't control it, you can read it and wait for the perfect time to ride the waves though!

@Matthew Olszak How have the C/D neighborhoods treated you? I'm a little hesitant to start there because I'm planning on starting with a FHA loan and am not sure about living there. I'm interested in buy and hold / BRRRR on the north side but I've found little traction.

@Matthew Holderly That sounds very aligned with what I'm interested in, I'll shoot you a PM 

Thank you both for your input/responses

I live in the local Chicago area and was thinking on investing in a 4 unit property with a 150k cash on hand. The market seems very hot at this point so not sure where the real-estate bubble is in the foresight.

Looking at Bridgeport , Pilsen , Lower west , Maybe some suburbs to invent in.

Its hard to get a double digit cash on cash return at this point.  Prices have sky rocketed already.

Should I wait or pull the trigger ?

So there are a couple of cool things that'll be happening to Little Village.

• http://chicago.curbed.com/2017/3/15/14935330/chica...
• El Paseo Trail
• 2nd class Restaurants being put into 26th Street (Panda Express)

Apart from business and development, the way i see it is that residents of Pilsen are being pushed out due to gentrification and my prediction is that they relocate to Little Village. Little Village still has their fair share of crime. If youre investing south of 26th street, crime is better there but then youre faced with being far from the Pink lines. What im asking is: would you believe that purchasing a multi unit property in Little Village is ideal, south of 26th street and would it be possible to pull off $1100 rents consistently if the place is nicely displayed? The way I see it is that if you have 200k to spend on a two flat you only have a couple of options: Little Village, East Garfield Park, McKinley Park, and Brighton Park. I think the best choice out of these neighborhoods is Little Village due to the livability of these neighborhoods. The neighborhood that has the best future outlook is East Garfield Park due to its proximity to West Loop and downtown itself, but something extraordinary has to happen to really turn that place around in my opinion. Feel free to express your thoughts here. I'd like to hear some of your feedback.

-Tony

 Hey Jeff,
Thank you so much for such a warm welcome.

I have read a lot about SFH Investing and I believe it suits my personal finance and budget scenario.

However, I would love to get your perspective on Multi-family homes and learn how I can use it to my advantage. Please accept my Colleague request and lets stay in touch.

Hello everyone,

I am Abhijeet , recent grad from UIC and currently working for a healthcare company in Chicago.
I have always been interested in investing in real estate but never had enough funds and knowledge to start. I have invested in other areas to maintain diversification and now excited to explore Real estate.

My goal for this year is to save enough and buy a single family home by August 2017.
I will try to learn and gather as much information as i could in this time frame.

2 Year goal (2019)- Own 3 Single Family Homes and automating the whole process of buying and maintaining properties.

5 Year Goals() - Own 10 Rental properties, retire from Job and move to a new city replicating the same process.

 Looks like you beat me to it - thanks for clarifying the neighborhood.  On the map it looks closer to Wicker than Logan, but either way it seems to be in a *decent* area.  Granted, I haven't spent too much time outside of the LP/Lakeview area so I don't exactly know what I'm talking about.

Small jobs are the hardest- nobody is reliable over time.

I have started using task rabbit to have handyman bid on jobs. Much easier

@Kevin Huang where exactly is this at? Cross streets? The exact location means a great deal to evaluating this.