All Forum Posts by: Anthony Fecarotta

@Ibn Abney I've been having a lot of sleepless nights researching the South Side, NW Indiana, and Indianapolis. Very overwhelmed at the moment, but the idea of the South Side is most appealing to me because I live downtown and I would rather be closer to my investment. I'm assuming any south side property would be a BRRRR deal, correct? I'm looking at buying a $40,000 property and then I'm going to have to find the right people that can help me properly estimate rehab costs.

@Mike D'Arrigo I sent you a private message back. I'm really interested to learn more about the Indianapolis market to see if there is anything within my price range that is worth purchasing.

Also, I was surprised to see on your city demographic matrix that Chicago has a positive population growth. I'm pretty sure we've lost residents consistently over the last three years.

Thank you everyone for the advice. I'd be lying if I was saying I wasn't very overwhelmed right now. As a beginner investor, I want to make sure I choose the right area to start buying property in from my first purchase. Personally, I do not care if it is a SFH or a MFH. All I care about is cash flow. I've gotten a lot of conflicting advice on where to invest in and what type of properties to invest in. Right now I'm not sure if I should choose investing in the South Side of Chicago, NW Indiana, Indianapolis, Detroit, or Cleveland. I haven't heard many positive things about investing in the Cleveland area, and that idea is starting to fade quickly for me. I like the idea of investing in Detroit as I think that city can only improve, but I'm not sure if I should be investing in SFH or MFH there. Same goes for Indy. 

What I do know for sure is the TOP of my budget is $65k for my first property. Ideally, I'd like to buy another property in that price range in the same area a year afterwards. I just gotta figure out where that area is going to be.

@David Stevoff Are you referencing MFH or SFH? I was originally planning on MFH, but multiple people keep bringing up SFH to me.

Solid advice from everyone. I really feel like this is the way to go.

@Tim Jensen I did look into Northwest Indiana and didn't really see the value, but I must have been looking in the wrong places. As for Rockford, that didn't even occur to me. Definitely going to check that out tonight.

@Anthony Bellesbach actually, how do you feel about making renovations to a low income housing? I would assume the tenants would just damage treat it like garbage either way

Thanks @Anthony Bellesbach, appreciate the help

 But I can't imagine I won't be building equity too fast from a $40k home in Detroit?

@Anthony Bellesbach

@taj

@Taj Bloomfield where are you getting this information on Trulia? 

Bump. Looking for any insight on Detroit.