Chicago/Suburbs, Naperville, Aurora, Racine, Kenosha, Milwaukee??

[Kristi Wolfe]

Where is good to buy, renovate & hold a 2-4 unit building?  I'd consider anything within about an hour drive of Palatine IL (or 1-1/2 hours in the case of Milwaukee if it's a really great deal)  There doesn't seem to be much in my area (prices are pretty high here - would love to keep it under $100K/$140K all in.

Areas I might consider:

Milwaukee (which neighborhoods are up & coming?)

Kenosha WI

Racine WI

Aurora IL

Elgin IL

Chicago (which neighborhoods are up & coming?)

I'd appreciate any input from anyone familiar with any of these areas, positive or negative! 

[Jonathan Klemm]

@Kristi Wolfe - I think first you need to define your expectations and comfort level.  Meaning are you looking for cash flow, appreciation, flips, etc. and then additionally are you comfortable being 1.5 hours away?  Are you self managing?  Who's placing tenants?  I think with the right team that isn't a problem at all, but everyone has a different comfort level and risk tolerance. 

I would definitely consider Milwaukee if you are looking for a stronger cash flow market.  It has very similar metrics and demographics to Chicago, but just smaller in size and less overall appreciation (depending on the neighborhood of course).  If you are looking to build your team up North I would reach out to @Michael Henry or @Marcus Auerbach as far as realtors go.  They are both active investors and know the area extremely well.  If you are looking for a full-time property manager I'd highly recommend @Matt Maurice or if you looking to self manage you should definitely check out the cool platform under my signature - NestEgg.

Also, I saw @Kenneth Garrett mentioned @Joe Mueller, who you should also connect with.  Joe is the man of the far NW Chicago suburbs and has his hand in all aspects of real estate (i.e, wholesaling, rehabbing, brokerage, etc.).  They hold a meetup over in Algonquin that you should definitely attend.  Here's the link:  https://www.meetup.com/investor-empowerment-chicago/