All Forum Posts by: Alex Ferraro

Ariana: No problem! Please feel free to keep in touch to bounce ideas off each other as we look for a house hack.

Nick: That's interesting to hear. I appreciate you letting me know! I mostly just used HP as an example of the type of area I'm looking at -- I really don't have a preference as long as it's a good investment and reasonably close to the loop. I'll definitely reach out if I have more questions while I'm searching.

Wes: I appreciate the advice! Those are both neighborhoods I'm looking at in the South. It's good to hear that you also think think they have a lot of future potential. I'm looking to do a decent amount of rehab -- but not a complete gutting of a house. I don't think I have the experience or time to do that just yet.

Robert: I never thought about separating duplexes in the same building -- that's a great idea. Thanks for the insight on the locations, I haven't thought to consider those areas but I'll look into it.

Hey BP,

I'm looking to house hack a multifamily property in the $250-$350K range in Chicago. I'm currently looking mostly in the northern neighborhoods like Humboldt Park, but am not opposed to being on the South Side or even as far west as Oak/Forest Park. 

What neighborhoods do you think are best suited for this kind of investment that haven't already been completely gentrified? I want to buy-and-hold the property and would like to factor in the 10+ year future of the location. Any insight is appreciated. Thanks!

Hi Kevin, I'm also 23 and living in the Southwest suburbs. I know that there is the Chicago Area Real Estate Investors Association (CAREIA). Another good place to look is the meetups app. I know that's not a whole lot of help, but it's a good place to start. Let me know if you have found anything else!

Congratulations Danny! I'm also looking for a house hack in that area. How is the renting process going now that you're almost a month in?

Matthew,

I appreciate the help! Although I am beginning my planning now, I probably won't actually purchase the house hack for about a year or so. If you have any other connections you think might be of assistance feel free to send me a PM and I will be sure to keep their contact info for future reference.

Hello Chicago BP! I am a 23 year-old working in the financial services industry and currently saving and learning everything I can about how to successfully buy my first house hack in Chicago. I have no prior experience in real-estate and am looking to learn and connect with others as much as I can to make my introduction to the real estate and BP community as seamless as possible. I passed the CPA exam and have a background in accounting and finance -- which I hope gives me a little bit of a jump start on the tax issues involved.

After my first house hack, my goal is to slowly acquire several other residential multi-family properties to the point where my expenses are covered by the passive stream of rental income. I hope this gives a good background of where I come from. I look forward to connecting with anyone and especially those in the Chicago area.

Thanks!