All Forum Posts by: Adam Bandola

@Jonathan Klemm Thank you for the welcome. You bring up a good point where immediate cash flow may not be necessary while I'm living in the property, but will be positive once both units are rented out. 

I'll have to look further into the FHA self-sufficiency test as I am unfamiliar with it. Thank you for the recommendation, I will definitely be connecting with Tony!

Hello everyone! 

I'm Adam Bandola, a 22-year old recent college graduate who's looking to be get started in small multi-family units in the Chicagoland area. Having lived around Chicago my whole life, the dream is to work and live in and around the city in the near future. 

That being said, real estate investing and the concept of house-hacking has only been in my life for the past 6-8 months. Although I've been reading BP books (as well as others), listening to podcasts and doing my own analyses on properties that are currently on the market, I would still appreciate if any investors in the Chicagoland area have any tips or would be able to answer some questions I have. 

Specifically:

• - How did you get your start in Chicago?
• - Is it worth it to purchase a duplex, triplex, fourplex in a worse neighborhood for cheaper? My gut is saying it would not be given that there's a higher likelihood for property crimes, vacancy, a generally worse pool of tenants to choose from and, ultimately, less income from a lower rent. However my brain is saying that if the numbers work and it cash flows even for a couple hundred dollars then it may be worth it to inspect further. 
• - Are there any neighborhoods to completely avoid besides the Englewood, Garfield Park areas? I know all too well that certain streets can make a difference. 
• - What tactics have you used to determine if an area is up-and-coming and worth it to buy in earlier?

Thank you to those who have read and a thank you to those that are able to provide any guidance. If you have any tips in general I would love to read them. I look forward to seeing the power of the BP community.