Apartment building advice

[Maxim K.]

Hello real estate community .

I’m looking to expand my small portfolio of 3 doors.

After listening to podcasts and talking to people , it made me feel that Apartment buildings is pretty solid wealth building tool.

I would like to put my hands on 6-15 unit building.

Based on finances I’m thinking price point of 400-700k. It looks like there are some markets that have inventory in such price range (Ohio, Illinois, Pa, AL )

If you can help me with pointing out in the right direction, I would appreciate it.

If anyone familiar with these markets and would like to share their experience , please let me know .

It looks like Chicago and southern Chicago has a lot of inventory , rent is high , but so are taxes. Am I missing anything? Is that a bad market?

[Eric M.]

Originally posted by @Bonnie Low:

One thing to consider is that Illinois is notorious NOT landlord friendly. I don't invest there but I've heard plenty of horror stories here on BP, especially when it comes to evictions, even pre-covid. High taxes, too.

Actually Illinois as a state is ranked fairly landlord friendly. Chicago has different rules and is not landlord friendly. Yet landlords still make plenty of money in Chicago. The whole landlord friendly thing is overblown unless you really just want to be a slumlord who screws over his tenants all the time.

https://www.valkeregroup.com/b...