Looking for a Chicago Team!

[Aja Devaney]

Looking to revitalize the poor neighborhoods in Chicago without pushing out old tenants. I’m brand new to real estate investing but extremely determined to make an impact in my community.

With Covid-19, we’re soon to be looking at a market that was similar to what occurred in 2008. I think this will be a prime time to purchase properties (both commercial and residential) at a lower cost.

Let me know your thoughts and any suggestions you may have to help me make this happen!

[Aja Devaney]

@Eric M. With the unemployment rate being so high, a lot of people are deferring their mortgage payments. Some without knowing that when their deferment period has ended, they will now owe multiple months upfront. I predict that the 4th quarter of this year is when we’ll see the foreclosure rate increase-which will be a great time for investors to buy in.

As far as numbers go, I want to use crowdfunding for this project, which is one of the reasons why I’m on this app. I want to purchase vacant commercial properties to supply more jobs eventually. I want to create a program for non violent offenders that were recently incarcerated so they can use their trades/skills to physically help rebuild their neighborhoods. In doing that, the people that have moved out of the neighborhoods they grew up in would be able to move back due to the growth and appreciation of the neighborhood. We would be able to modestly raise rents if needed without having to push people out.

This is an idea that I believe could be executed if done correctly. We need to rewrite the definition of gentrification.