All Forum Posts by: David B.

@John Lowe 

Good, well descriptive post.  I own properties on the southside as far south as West Pullman onto the South Loop and quite a few neighborhoods in between.  I enjoy the discussion here about Chicago and it's neighborhoods.  In regards to Auburn-Gresham, it has one of the largest inventories of brick bungalow and 2 flat properties in Chicago.  I agree with the repeated anthem that when it comes to real estate in quite a few neighborhoods on the southside, it is a block by block venture.  Parts of Auburn-Gresham has its crime challenges while other parts can resemble suburban oasis with well orchestrated block clubs.  Due diligence and on site visits should be any potential investors prerequisite.

There are a few investors I know that may be interested in the 60643 part of West Pullman or maybe right off 127th in 60628. Which area code is your property located.

This duplex was $7,900 with a rehab cost of $12,000 and rents for $850 and $925. It was initially my RE office but now I rent it. These interior pics are from when it was my office.

Townhouse that I paid $9,000 for. Rehab was $6,000 and is currently renting for $1,150. I actually purchased two of these, the other on is two doors down with the white awning. That one was $16,500 with a $8,000 rehab.

Townhouse that I paid $9,000 for. Rehab was $6,000 and is currently renting for $1,150.

This duplex was $7,900 with a rehab cost of $12,000 and rents for $850 and $925.

Really nice tip Mike..I already had several busted pipes this year already and surely am not looking forward to any additional problems. I put all of my tenants on notice. Great memo!

Currently rehabbing two SFH's that I closed on Dec. 28 and Jan. 3. One will be rented out for $1100 and the other will be a flip with an ARV of $125,000.

@AC Cooley Great inspiring story. Good to see you stepped out on Faith. I have a similar backstory and totally relate. Go get it.

Nice Investing

Dave

I currently have a tenant on section 8 who is terminally ill. I was inquisitive about this situation. But for now my focus is on the family and being there for them in their time of need. I will monitor this thread though.

I have rentals throughout the Midwest with many being on the south side of Chicago and I have never had an eviction. I deal with both market renters and section 8 and have not had a horror story to tell in 18 years. I do run into odd and peculiar situations but that is across the board. There are always challenges within real estate be it neighbors, unsavory tenants, or economic setbacks. I just read a article of a US Congressman leaving a landlords nice rental in Washington in a wreck. You should screen a person in Englewood on section 8 the same way you would screen a market renter in Beverly. Contrary to popular belief a lot (not all) of section 8 tenants like and respect beautiful places.

Most people are unfamiliar with most of these areas and are deterring potential investments from places that need it the most. There will be blocks and sometimes areas as a whole to stay away from but south Chicago from an investment standpoint is very satisfying. I self manage over 20 of my own properties in Chicago. I often sit on the sidelines when these discussions take place just thinking that their ignorance plays in my favor. The realization is that playing the sidelines does not help potential on the fence investors, the neighborhoods, or me in the long run. Chicago has great deals to be had but do be vigilant in your search.

Nice Investing

I recently sold a house I thought I would hold for at least 7 years. I acquired the house 3 years ago for 27k all in and just recently sold it for 99.7k. My plan is to replace that house and buy 2 additional houses. I have a couple upcoming closings for purchases so far and still searching for the third. I was not in the market to sell any of my properties at the time but the opportunity presented itself.