DO NOT INVEST IN CHICAGO

[Listiarso Wastuargo]

The numbers look amazing on paper. Heck, I've even done 3 successful BRRRs there

But the fact that the city and the state it's so anti-landlord is very frustrating.

I have a property in the middle of BRRRR that I've finished remodeling. Bought it for $105k, do rehab and repairs worth of around $50k. I expect that it would be worth around $200k and can do full BRRRR. Then when I wanted to rent it out, suddenly an armed squatter take possession of the property. It's been 8 months since then. The police, sheriff, and what not can't help. I can't turn off the utilities for whatever reason.

And I keep piling property tax bills, and violations from the city for whatever reason, and the property was just laying there with squatter that I can't evict

Anyway, now I have this property at 5144 S Princeton, close to Washington Park, where I need someone to help remove the squatter, or even buy it for cash. I am willing to take a loss after all the repairs and remodels I did to the house.

I am just so done with Chicago

[John Warren]

@Listiarso Wastuargo this sounds like such a terrible situation. The city is tenant friendly, but I firmly believe this squatter thing is something we as property owners can fight. This is not really the intention of even the most bleeding heart politicians in this area. 

Have you connected with any other investors who know the game on the south side? I would check in with @Mark Ainley who knows a lot of the tricks from his decades on the south side. Investing on Chicago's south side definitely requires a different skill set than on the north side.