Chicago Deals Are Needles in Haystacks

[Demetrius Davis]

The past few weeks have left me very pessimistic. I'm feeling that the good times are very likely winding down for finding good deals in Chicago. Seems that lots of properties are overpriced and good deals are wrapped up in multiple offers within several days of hitting the market. I am preparing to close on a flip, but am feeling like my goal of picking up 5 more units (good deals) this year will be tough.  What are you seeing/experiencing in the Chicagoland market?

[Jeff Schroeder]

Fair to say you've not looked at the South side of Chicago? There absolutely are deals to be made in neighborhoods which are nice, and are fairly obviously going to appreciate in a few years. As an idea, anything around Jackson Park, where the Obama Presidential Library will be put. You can still buy property cheaply in that area to fix up and flip, or hold onto for appreciation and cash flow. I literally just bought a two flat in that neighborhood this week. I guess it depends on what type of investing you're looking for and how much you want to hustle to do it.