Multi Family Rental In Aurora and Surrounding Cities

[Man Le]

Hi All,

I'm new to BP and I'd glad I found this community. I'm living in Aurora and been invested in townhouse along Eola rd, Naperville school district and would like to expand my portfilio with MF properties, starting looking MF around 600k, have been looking into Aurora, Addison, Lemont, Westmont.....even West side of Chicago like Austin and East Garfield Park.

While I was looking further out, why not focus in my backyard which is Aurora, I looked up some numbers, occupancy in Aurora is around 5%, 1% rule is a little short but I think I can work with it.

Any MF investors have any suggestion ? Aurora is a good place for MF investing or any other surrounding cities ?  

[Mark F.]

@Jonathan Klemm thanks for the mention!  @Man Le Elgin and Aurora slightly different but also are very similar communities IMO. Both have a fair amount of C/B properties and a fair amount of older larger homes that over the years were split into 2-4 units and can offer great cash flow. 

I'd also suggest to reach out to @Chris Davis as multifamily properties in Elgin are his prime target area and he can provide some invaluable information. If there is anything I can help with feel free to reach out to me directly.

Mark