Looking to Invest in first rental property. Needed advice

[Chintan Patel]

Hello everyone,

I am seeking help and advice on investing in my first rental property. Specifically, I am looking to invest in a single-family property around $250K which can generate little cashflow, but I am unsure of which area to invest in for 2023.

I will not have time to manage property to myself so looking for property management service as well. 

I would greatly appreciate any insights or advice on areas that are currently good for investment, as well as any tips or suggestions for someone new to the rental property market.

Thank you in advance for your help!

[Jonathan Klemm]

Hi @Chintan Patel - Congrats on starting the search for your first property!  It only gets easier from here and I found the key to getting ahead is getting started.

Is there a reason you want a single family instead of a multi-family?

Chicago is huge...I think the best thing you can do is to link up with an investor-savvy lender like @Andy Smith or @Zack Karp get pre-approved and then find an investor-friendly agent like @Eudith Vacio or @Paul De Luca....make sure the agent you work with is familiar with neighborhoods you are looking in.