Aspiring Chicago House Hacker!

[Meera Lakhavani]

Hi BP!

I am a Pittsburgh native and recent engineering grad from Carnegie Mellon. I started an analytics/consulting job in Chicago about a year ago, woOoo!

My goal is to use FHA financing to buy a multi unit property and house hack. BP podcasts have inspired me to someday house flip full time once I have enough rental income!

I am new to BP but already appreciate the community! If any other Windy City investors want to chat or grab coffee, I would love to hear about your experiences!

Side notes:

Right now I am getting the impression that Pilsen is the biggest opportunity neighborhood to find a multi unit within FHA limits and still be close to the Loop via public transport. Any perspectives or other ideas on this?

Looking forward to meeting more BP folks! Have a great day!

[Evan Thoma]

@Meera Lakhavani Welcome to BP! I don't know much about Pilsen but I did a little bit of research using the MLS. Currently there are 6 active listings (some under contract already) that are between 2-4 unit buildings ranging from $150,000 (needs lots of work) to $800,000 (recent rehab, 100% occupancy). For such a small area having 6 listings currently active is pretty decent. 8 multi units have sold in the last 6 months there so investors ARE picking up properties that need work and successfully turning them around. I'd say you found yourself I neat spot to focus on. Hopefully this image can give you an idea of what you might be able to pick up properties for. Best of luck with your investing endeavors!