All Forum Posts by: Therese V.

What are the typical requirements? Is it a much higher rate or shorter loan period?

You make many assumptions about why I asked the question. I asked the question for the very reason I stated, to me the area is comfortable since I grew up there. BUT I wanted to make sure that I am not missing something.

I wrote some other things but decided posting them is not charitable, so let's just say this: don't think you know my intentions by one question I write on an online forum.

Will, I'm hoping to find some people that invest in the Chicago-land area as well to learn from about that market.
Look forward to hearing about your progress!

Hello! Welcome, I a a fellow NoVa newbie thinking on investing elsewhere.

It's crazy high on pricing here, but gives us something to strive for in the future :)

Jay Sebastian Thanks for the Facebook link! It doesn't look like they are very active or anything though, do you attend the meetings? Is there a way to private message on here?

David Johnson What a small world! Never been on the dinner cruise, but have been to the art museum there. Will have to check it out next time I'm out that way.

Jay Sebastian We're not actively investing in this area because we don't have 20% of the costs around here. I want to buy in a different area where the cost is much lower and eventually 1031 up to things near here. Is there a local investor group or something like that where people meet up? I'd certainly be interested in that.

If those 2 photos posted are the actual property, did you notice the building next store looks boarded up? I think that's something to note.

Thanks for those photos to break it down a bit and the explanations with them.

So the area I am talking is somewhere between C and D then.
There really aren't boarded up homes and they have torn down a bunch of homes in the last 10 years but then started building brand new homes. But even though there are brand new homes, they are still lower-income people and these gang/drug/gun problems.

Do multi-family properties with units occupied usually not allow a potential buyer to look at them? I would really want to see all units prior to buying, especially the ones the seller is trying to have me avoid.

That's what I was thinking, but just want to make sure that my own comfort in the area isn't making something that should be glaring to an investor hard to see for me.

For example, there is gang activity in this area, involving drugs and guns/shootings. But, there are still families that live in the neighborhoods that have nothing to do with such activity (those are the people I want for me tenants of course). I would have a property manager since I do not live in the same state as the properties. This is a low-income area, but because of that the properties are less-expensive and I figure over time I will buy properties there and eventually 1031 them to get larger properties in better neighborhoods.