Chicago 2 Flat Turnkey Analysis
Hello BP!
I am a first-time out of state turnkey investor currently in talks over this South-side Chicago 2 flat in the Hyde Park township (60637 zip code).
Could anyone who actively invests in the are please weigh in? I would like to hear some impartial opinions both on the legitimacy of the numbers and on the prospects for long term appreciation. Macro economic indicators suggest that Chicago is a ripe opportunity, but I want to be sure that long term gains would percolate down to this region of the south side.
Alternatively, could anyone who has had positive or negative experience with Chicago turnkeys please offer your thoughts?
To generate these figures, I combined the seller's proforma numbers with research of my own. I have also increased the seller's vacancy, maintenance, and property maintenance estimates from 4%, 4%, and 8% to 6%, 6%, and 8%.
Thanks!