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Updated almost 2 years ago,
Success in South Side Investing and Managing?
I'm currently in escrow on my last remaining property in California with a plan to purchase here in Chicago. I've lived here for three years and currently have another rental property in the city. Given the high mortgage rates, it looks like most opportunities for cash flow are in neighborhoods that normally give people reservation and/or in rehab properties.
We are looking at a property on the north side of Englewood, on a street where both it and the surrounding streets look to be in good shape. Houses surrounding the propery have appreciated steadily (and sharply) for the last 5 years. I know there are concerns (crime, tenant damage, etc) in the area, but I was wondering from folks that have first-hand experience managing in the area:
-Who has had success managing in these areas?
-What has worked and what has not worked?
-If you use a property manager that you like, would you be willing to share?
Thank you in advance for your expertise!