Best Chicagoland market for a beginner
Hey Everybody,
New to this site, and to real estate in general. I'm thinking about buying and renting out my first property sometime in 2021, but wanted to see if anybody had any advice/suggestions. Mainly, which suburb or even Chicago neighborhood would be a good place to buy, especially for somebody as new as myself? I'm mostly looking at foreclosures and rehabilitating the house myself. Or any other advice in general, I would definitely appreciate. Thanks, guys!
Most Popular Reply
@Garrett W Williams Welcome!
Piggy backing on what several have already stated, I would add this: Choose a location you like! Far too many investors I've met invest in areas they don't necessarily like, or even feel safe in, because the profit margins may be larger, or it's an up and coming neighborhood, or you can find much cheaper properties, yada yada. None of those are bad things, in and of themselves. But I'd recommend exploring some areas--drive and/or walk around--and see how you feel while you're in those neighborhoods.
Other investors might recommend against this, but I'm a big believer in following your heart first, and then finding a way to make the numbers work. You will find good deals in ANY area of Chicago and immediate surrounding neighborhoods, so might as well choose one that makes you feel happy and excited to invest and spend your time in.
Good luck!