All Forum Posts by: Hae Sun Yi

I recently moved to the city of Chicago and looking for a deal to buy a small unit like a studio/1 bed in a high rise building. However, I realized there are tons of apartments and new construction apartments are still on the way in many places. Does the rental investment number still work in the city? Also, in the case of buying a unit in a high rise building, (considering rental cap and everything) can I still claim appreciation? It seems more complicated than the suburbs like Naperville.

I am from Naperville, and is it a better idea of investing in Naperville even though a bit far to take care of the property if I buy in the area?

Any advice would be appreciated.

@Jennifer Hyman My husband and I haven't decided it yet clearly but right now we are more toward to something we can live in for a time but rent it out later. Our favorite place to live is West Loop but it seems to have much premium already. I need pro's advice if I need to stay in the West Loop area even though I pay premium looking for appreciation due to land value or need to consider further west side (west town) waiting for booming the area like the West Loop in the future.

Thank you all of you who gave me a considerate advice! I really appreciate it and it does help.

@Mark Ainley 1. is there any website I can check the rental market flow like checking for house sale info with the sale price/date on any real estate websites?

2. if I contest taxes, does that eventually bring down my house value? I receive many fliers though.

3. I am looking for a property for my family to live in West Loop Chicago - that's whole another story I need to ask an advice as well. Please refer me if you know someone for West Loop Chicago area in general.

potential rent is around $2700, I down 80k in that property paying mortgage $2400/month and the value is around 460-470k. 

Hi! I have a single house with 4B 2700 sq ft. in Naperville with a property tax of $11.000. I'd like to hear your opinions if I'd better sell it in spring or keep it to rent it out in this market. The rates are going up and the market seems really slow. Have anyone had any experience renting out the size of a single house in a real family-friendly neighborhood?

Hi! can any of you give me an advice on pros/cons rental property investment in a suburban area like Naperville vs. The city of Chicago? 

Thank you! I appreciate your advice!

I've been being a landlord for a year since I kept my previous house as a rental property when I moved to a new house down the street in the same city. The house I rented out is a 3 bedrooms townhouse, and I have lived there for 14 years and paid it off so I don't have a mortgage on that property. The current value of our home is approximately $250,000. There is an HOA fee of $318.00 per month, and the property tax is approximately $4800.00/year. The current rent is $1850/month. Since I don't owe any money for this property, it created $14,000 net income over the year.

The property appreciation over the 14 years is pretty much same as the time I bought in 2004 because I bought it for $235,500 in 2004.

I've seen many discussions regarding calculating a cash flow for an investment property comparing monthly mortgage to a montly rent, however, in case you paid off the property and in case it creates $14,000 net income/year,  is this a good investment for a 250K property? Your advice would be appreciated! Thanks!