Updated about 1 year ago on . Most recent reply
3 flat in Chicago
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $330,000
Cash invested: $15,000
Legal 3 Flat (that was not for sure in the beginning). FHA BRR/house hacking. Potentially turning into section 8 if there is tenant turnover. I would love to have a section 8 empire. Next move is New York, New Jersey, or Connecticut 3 flat then an office building.
Lessons learned? Challenges?
I had to go through one eviction in the beginning, which is potentially why he was selling the property. However, there are no 3 flats that cost that low in Chicago. Crime in the area is not the best but it is close to Humbolt Park downtown, Garfield Park Conservatory, the 606, etc.
Most Popular Reply
@Madeline Walsh Just a note to say we're here in Chicago if you need boots on the ground! I'm not sure exactly where you are located, but you've made a great connection here with @Jonathan Klemm if you need contractor help. Best of luck to you working through the renovations - if you need any design advice, feel free to reach out!
-Jennie