Southwest Chicagoland Investment Opportunities

[Eric Sanders]

Hey Everyone,

I've just embarked on my real estate journey and am set on buying and holding rental properties in the southwest Chicagoland area, being anywhere from Beverly, Chicago to Orland Park. I wanted to ask if anyone is familiar investing in this area, and if they can share their experiences or share any suggestions they might have. 

I'm somewhat familiar with this realm, which makes me feel more comfortable investing around here, but I would be willing to look elsewhere that allows me to commute to Tinley, and would make my fiance feel safe. Ideally, I'd like to house-hack a small multi-family property, but the inventory for these smaller multi-families does not seem that great. 

Also, if there are any realtors out there, familiar with these areas, and are comfortable working with investors, feel free to reach out!

Thanks in advance!

-Eric

[Brad Mirkovich]

@Eric Sanders welcome to the hunt. I am looking at the same strategy (house hacking a residential multifamily) and in a similar area.  I’ve been aggressively searching for a property that fits our needs since October and have only found three that made sense to put in a offer.  I have a small family so we are restricted to properties that include a 3 bedroom owners unit.  If that isn’t a requirement for you, then you will have a lot more options.  There seem to be a great number of 2 bedroom units in southwest and west suburbs.  

The trick is finding inventory in an area that is safe.  Berwyn seems to have a decent number of properties and looks to be on the upswing, but isn’t as nice as where you are now.  If you drive thru the area and it’s within your tolerance, it might be a good area to start looking. 

Good news is, it’s early in the selling season so I predict we will start seeing more opportunities.  

Let me know if I can help with anything.  

[Eric Sanders]

@Brad Mirkovich thank you for the welcome. I couldn't agree more, finding those properties in a very safe neighborhood around this time of year can be tough. Might have to continue to drive a bit more to see what other areas seem to be doing better than others, and let's hope the market starts to sway our way sooner than later! 

Best of luck on your search for that 3 bedroom unit in a multi-family, I can't imagine those are easy to find deals on.

[Michael Mayer]

Hey Eric

I think @Brie Schmidt and her team can help you in those areas. I believe one of the brokers has a meet up as well. You might want to check it out if that could work for you:

https://www.biggerpockets.com/forums/521/topics/55...

Their brokerage is at http://www.secondcity-re.com/