Buy and Hold in Chicago or Chicago Suburbs?

[Sebastian K.]

All-

I was hoping you all can help stir me to the right direction. I am new to BP and the REI world. I am currently reading a bunch of material and I am trying to create my first version of my business plan. I currently have a 9-5 job that I love, however, after purchasing my first SFH I fell in love with real estate.

I know that I want to get into the buy and hold sector of REI and that I want to concentrate on multi family homes. Before moving to the suburbs for work, I lived in Chicago for awhile and I know that Chicago will always have a high renters market. However, I currently live about 45 min north west of the city and due to where I live and this being my first rental purchase I need help with the next step of my plan. The questions are: 1. is it risky to buy a property to rent out in the north west suburbs? I ask this because I feel if you move to the suburbs you are basically moving to buy not rent in most cases. My second question 2. is with me living in the northwest suburbs and having a corporate job, should I be as close as possible to the property aka would me buying a place in Chicago be too far for a newbie?

Any advise/suggestions would help.

Thanks.