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Updated over 4 years ago, 08/04/2020
Market spotlight Chicago
could someone tell me the pros and cons of residential invetsing in Chicago and also link me up with a lender or agent?
Chicago has it's own rental laws on top of the County laws and the State laws. Make sure you know them before you start investing.
@Joshua Ocean - I can make a few recommendations on lenders and realtors, but would want to know what area you are wanting to invest in?
Pros and Cons of residential real estate investing is a pretty open-ended question.
Pros: Likely the easiest type of real estate investing to get into, financial freedom, tax advantages, cash flow, appreciation
Cons: High risk (in some peoples opinion), failure is inevitable, not easy, need to be able to network well (con if you arent a networker)
- Jonathan Klemm
- [email protected]
Definitely a PRO in Chicago is APPRECIATION and I would add a con to investing in Chicago are reproperty taxes. Make sure you budget in an increase in taxes every other year to make sure it doesn't eat into your profits significantly. Rents going up should offset the tax increases but something to think about as you invest in certain areas.