Success in Apartment Buy and Hold?

[Ross Carlson]

Has anyone had success buying, holding, and renting out Condos/Apartments in Chicago and the surrounding suburbs?

Starting out I am struggling a bit to find affordable properties in the Chicagoland area that have good CoC returns that don't require a tremendous amount of work to rehab.

Wondering if this is a good area to look at since the entry point for these places are much lower than most of the inventory in Chicago. I also like the idea of not having to do as much maintenance since the HOA would be paying for all of the exterior maintenance.

Would love any feedback on things I should look out for when considering apartments/condos.

[Jonathan Klemm]

@Ross Carlson - I'd say there are definitely quite a few investors having successes in the Chicagoland area.  Definitely check them out on @Mark Ainley podcast https://www.straightupchicagoi...

Are there any specific suburbs you are looking into?  Personally, I know Elgin and Aurora typically provide decide cash flowing properties.  Down here in the City cash flow is quite a bit tougher to find.

I like the idea of flipping Chicago condos right now, but I am honestly not a huge fan of holding them unless you have a rock-solid process setup and a firm understanding of all numbers.