Frankfort, IL · Member since 2022 · 204 posts · 132 votes
Hi Everybody,
I've been driving for leads. I live in the Chicago suburbs, so just about every type of neighborhood is available... cheap, expensive, old, recent construction, well kept, run down, etc.
I know deals can be found anywhere, but that said, have you found more success in certain types of neighborhood vs others?
Lender · Winter Park, FL · Member since 2021 · 737 posts · 412 votes
2y
I like Upward transitional neighborhoods. C-C-, or even D+areas outside growing metros. Picture it like a dart board—areas farther from the center experience increasing pressure, leading to appreciation if you plan to cherry pick any to hold onto. For wholesale purposes you will find distressed properties that when fixed are still in affordable price ranges for end buyers especially with where rates are, or work on DSCR products. The reality is any of them can work if it's a good deal. There's always a buyers.
Rental Property Investor · Chicago · Member since 2018 · 612 posts · 1k+ votes
2y
@Dave Kush I personally invest in higher end stuff on the Northside of the city so there is less distressed to choose from, but the payoffs are bigger when they hit. The inverse is typically true for cheaper areas, more distressed opportunities, but lower profits gained per job. It's mainly a sliding scale up and down so pick which works best for your strategy.
I've had recent success with DealMachine and we just recorded an interview with their CEO on this topic. I'll forward it to you once it goes live.