NEW INVESTOR TO BPs COMMUNITY

[Randall Owens]

Hello BPs community,

My name is Randall Owens and I am new to the BPs community. I have been browsing through the bigger pockets chats and felt that it would be best if I reached out to you all for advice with future real estate investments. I am currently deployed in Afghanistan with the US Army and will not return home to Chicago until July 2020. However, since being here I am continuously reading and educating myself on investing in multi unit apartments. I was wondering if you all can give me some advice on the best tactics to purchasing 3-4 flat multi units with a good cash flow. I plan to house hack and hold onto these units long-term in the Chicagoland area.

[Jonathan Klemm]

@Randall Owens - I personally like Washington Park out of the 3 neighborhoods you named. You can still can get good cash flow and the neighborhood is in the middle of a lot of change, which is great. 

I currently have a few buildings on the NW side of the city, in the bucktown area, which I house hacked. I also work for NestEgg a property management platform that specializes in helping busy landlords with their maintenance issues.  Our tech based company is here in Chicago.  And to answer your question, we do manage a handful of properties on the Southside mostly Hyde Park, Washington Park, and Bronzeville areas.

Also, outside of the VA and FHA loan programs you may want to look into the home possible loan program which is a great low down payment program that doesn't have the purchase price ceiling like the FHA loan does.