Advice on Fix & Flips in Englewood Chicago

[Manny Rivas]

My name is Manny and I am interested in buying a property in West Englewood neighborhood of Chicago IL. I am from San Diego, California and I travel frequently out of state to buy property. Property in my city is out of my budget. The off-market property I found in West Englewood is affordable. My goal is to fix and sell it for a profit. I am able to purchase it for 20% of the purchase price of similar comps in the area. I am nervous, mainly because this is new to me as I am unfamiliar with the Chicago market and I read West Englewood is known for crime. Can anyone share advice on flipping properties in a not so nice neighborhood? Whether or not I should jump into a rehab project in this area.  Any information, contacts, and advice is greatly appreciated

[Jonathan Klemm]

Hi @Manny Rivas - I think this is totally doable BUT you absolutely have to have the right team in place.  Englewood is one of Chicago 's roughest neighborhoods and the area is VERY block by block.   

As @Alan F. pointed out 20% is a little thin, especially as a first deal - I would say though, in my opinion, the most important thing is getting started so even if it's not a home run a single, walk, or even a strikeout is better than not even batting... because as you take more at-bats you'll get a better batting average.

Happy to connect around the renovation process and help you build a solid team here in Chicago.