New to REI - living in Chicago

[David Johansson]

Hi BP,

My name is David, and I am a 25-year old accountant currently living on the north side of Chicago but moving to the near west side next month. I started listening to real estate podcasts and reading books on real estate investing a couple months ago after reading the most famous book on real estate investing (if you guessed Rich Dad Poor Dad, you were correct). 

I'm originally from Sweden and have lived in Chicago for 5 years while getting my Bachelor's as well as MBA, so I am pretty familiar with the city. As I am expecting to get my work visa next year, I would love to buy a multi-family unit to house hack depending on if I can find a good deal in a reasonable neighborhood. So this next year will be all about saving up for a down payment, closing costs, as well as anything else that is needed.

Even though I won't be buying anything for a while, are there any general tips that I need in order to make sure that I am ready to invest next year? Is there anything specifically I need to know that relates towards the Chicago market? Any tips on successful house hacking?

I would greatly appreciate any advice and/or feedback.

Best,

David

[Lumi Ispas]

@David Johansson , you are looking to buy in the right area if you are looking in Near West. There are some great deals there. Let me know if you want to talk about them.