Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 3 years ago on . Most recent reply

User Stats

17
Posts
10
Votes
Allison O.
10
Votes |
17
Posts

Priced out of Chicago market, so where do I go?

Allison O.
Posted

Hello,

I am looking to buy my first rental property. I want to spend as little out of pocket as possible, and I am thinking that means I have to look out of the Chicago market and possibly out of state. Since this is my first rental, I want to be somewhat familiar with the area and have it accessible, so staying in the midwest region makes sense to me, although I am ultimately open to other reliable opportunities farther away.

So, how do I research areas with potential upside? Where can I find reliable information on up and coming areas, avoid of pure speculation? What specific factors do I look at to determine a market is up and coming and where do I find this information? Google gives me too many differing opinions; rental income is my main goal, although I would like to see some appreciation in the rental I choose- I don't want to be upside down in an un-rentable property in a few years if the area tanks. 

Thanks!

Most Popular Reply

User Stats

6,024
Posts
5,073
Votes
John Warren
  • Real Estate Broker
  • 3412 S. Harlem Avenue Riverside, IL 60546
5,073
Votes |
6,024
Posts
John Warren
  • Real Estate Broker
  • 3412 S. Harlem Avenue Riverside, IL 60546
Replied

@Allison O. I am curious why you think you are priced out of the Chicago MSA? There are so, so many sub markets within the Chicago market. 

  • John Warren
  • Loading replies...