MFR Markets - Chicago & NW Suburbs

[Nicholas Ladas]

Hi BP community! I am new, here, on the forums. My wife and I are looking to begin our investing portfolio in/near Cook County, IL. We work full-time jobs, and plan to live in one unit for one year, at minimum. I would like to purchase a three or four unit multi-family with the help of my VA loan benefits. Currently, we are searching in the areas of North Riverside, Berwyn, Forest Park, Maywood, Westchester, Broadview, Northlake, Western Springs, Franklin Park, and Bensenville. However, our market knowledge for these areas is limited, due to this being our first search. Are there any other areas that peak investors' interest for cash flow? I like the areas around Loyola Medical Campus as well as anywhere with higher rated school districts. Tenant stability is my main focus. I have yet to find a property where the numbers satisfy me. Any insights on NW suburban neighborhoods will be greatly appreciated. Additionally, what markets do investors have their eyes on, when non-paying renters are to be evicted, this March? What are 2br/3br units renting for in those areas? We are open to any suggestions, but never expectant.

Thank you to everyone, in advance, for being a part of this community. I am excited to continue to learn with the help of BP. I would still be mindlessly scrolling through Zillow if it was not for Brandon Turner. :)

-Nick & Melissa L.

[John Warren]

@Nicholas Ladas for many of us it is hard to realize that the priorities of most blue collar folks are a lot different than our own. There are tons of great, hard working tenants who are looking in areas close to employment and these people may or may not be focused on schools. In my case, my portfolio is also very heavy on the one bedroom units which tends to attract millennials and young professionals who want a great value in an urban area. They are not thinking schools yet, and won't be for another 5 to 10 years in most cases.