Where to look for best deals?

[Brad Huseman]

How do you decide which area to buy in? I live in the Chicago area and have access to dozens of Chicago suburbs, the downtown area neighborhoods, even Wisconsin and Indiana. I'm aware of School district quality tools and looking at quality of area but I am having a hard time deciding which area to focus on for pursuing leads with so many options near me. I plan to manage my first property and would like something somewhat local so I am able to spend time at the property on my first deal. Any advice on where to find information on which areas are growing, have high rent, low vacancy or any other indicators that it will be a great long term investment? Thanks!

[Marcus Auerbach]

@Brad Huseman - the answer is less complicated than you might think! My rental properties are all within 15-20 minutes of my home, stay local, you have the home field advantage. The real estate market moves very, very slow. Don't try to find that one neighborhood, that might turn arround - because it may not!

You should first define who you want to rent to, that will define the property you are looking for. The rental market looks like a bell curve in most areas, I like the upper side of the middle segment. Usually better school district, or if you rent to young professionals lots of quality entertainment. Study rents on Zillow (actual for rent listings). You want to nich down, become a specialist in one area. Dont way Chicago leads against Indi leads you go crazy. Pick an area with about 30,000 population and know it well, this is how you can respond to deals with confidence, before others are done running comps.