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Updated about 11 years ago,

User Stats

390
Posts
599
Votes
Serge S.
  • Rental Property Investor
  • Scottsdale, AZ
599
Votes |
390
Posts

Chicago (south side) help!

Serge S.
  • Rental Property Investor
  • Scottsdale, AZ
Posted

I'm an experienced RE investor in AZ and have only invested in my region thus far. I've been approached by an asset manager I've used to get incredible 50% ARV deals for the past few years with a small Chicago package. I've been researching and the deal looks good but I'm really weary about the murder capital and getting stuck in a potential war zone. Any feedback would be greatly appreciated.

1. Duplex in Englewood (May St) neighborhood looks to be in great condition built early 1900s.

2. Triplex with 2 2bd upstairs flat and 4bd downstairs (Escanaba Ave) brick early 1900s needs work.

3. Duplex (69th st) brick early 1900s needs work.

I don't have much info yet and I don't know the exact level of rehab until I have someone on the ground inspect. Looking for general info on the areas and renting in such neighborhoods. Looks like definitely section 8 but with a decent property manager may be doable. Not looking for war zone nightmares but the returns look too good to be true. Total package would cost under $60k. Any referrals on an experience person on the ground would also be very helpful. These are all off market REOs held by a mid size bank.

Thanks BP nation, your help is really needed and appreciated!

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