All Forum Posts by: Latifa Al Latif

UPDATE:

I saw the building, and... intimidating was an understatement. It basically needs to be gutted down to the studs and redone, roof and all. I think that for me, the most uncomfortable part is that I would need investors. The comps in the area don't tell me that BRRR would be a viable option and the neighborhood doesn't appear to be on the upswing like I initially thought. So on to the next option and eventually I get the courage to present to an investor, if need be.

@Crystal Smith

I found a great school, McDade, for him that's actually rated higher than the one he's currently attending. I found 2 3-unit properties within a mile. I'm going to go for them both and hopefully get one. I have absorbed information throughout 2019 on REI, now I'm educated enough to pull the trigger and go.

@Jonathan Klemm

PS. I wouldn’t mind investing in Aurora, but there’s only single family homes, which do not meet my criteria. I only want 3- to 4-unit SMF.

@Jonathan Klemm

I totally agree. I found a school that’s rated better than the school he’s currently attending and it’s an hour closer to my work. I really believe that the neighborhood is on the upswing since the Chicago Cannibus Boom. Bronze vile and Wash Pk, are very viable options but I haven’t found deals there as of yet.

@Jim K.

He’s 5. I found a great school near a property I’m interested in buying.

@Joshua D.

Thank you. I spent last week in Chicago at my Mothers house and looked around, it’ll be an adjustment but I know my Why.

@Jim K.

Thank you. I guess I just needed to have a bit of validation.

@Eudith Vacio

I’m grew up in the West Woodlawn area, so Chatham, W./Woodlawn, So. Shore, even Englewood and Washington Park areas have starting to appreciate in value, I want to get in before the Obama Library is built. Beyond that, I want to invest in the communities I grew up playing basketball and going to school.

My lease is up March 2020, I’m prepared to purchase but looking for input. I have 2 options: A. Buy a townhome in my current area (Naperville, fairly affluent suburb near Chicago with great schools) or B. Buy a small Multifamily in Chicago.

Option A: My son doesn't have to change schools. I'll be saving on rent. I could get creative and find an investor for deals in Chicago to start my REI journey.

Option B: Find a great school in Chicago (Southside, Chatham), buy a small multifamily, have tenants pay you the bills and save my work income for another property and in a year or two, move back to Naperville.

The dilemma:

Option A: Naperville is expensive and as a poker dealer, my income remains $67/k without increase. And I work 60 miles away. My money is spread super thin, and it’s starting to get stressful.

Option B: Chatham isn’t the safest neighborhood. I can save 90% of my paychecks for the year with a small MF.

What would you do?

@Benjamin Greene

Would you be able to put it in your name?