All Forum Posts by: Jason B.

 @Jarret Jarvis The "sweet spot" is always what I'm looking for - ugliest house in the best neighborhood.  I've shown clients/partners properties everywhere from Rockford to Kankakee, doing what I can to show them that sweet spot.  

Funny thing - I was with Compass until relatively recently (March/April 2024) as well. What areas do you specialize in?

 @Jonathan Klemm Couldn't agree more regarding value add being the way to go. While I am always looking for off-market, as an agent with access to MLS, that's my primary source of looking for deals right now. Things like the 1% rule right off the bat, especially with properties that I know are undervalued, are good indicators of a "good deal."

@Jacob Dalton, I'm going to have to agree with Jonathan Klemm (sorry, couldn't tag you) & @Brie Schmidt -- you can definitely be a successful landlord in Chicago with the right team in place.  1000's of investors do it every day.  When I had my own real estate practice, I advised landlords on tenant issues, negotiated cash for keys, and filed evictions.  Those landlords are all still investing today. 

That said, you have to be comfortable with your risk tolerance - are you going to keep yourself up at night? If so, it might not be worth the once in a lifetime rate you have.  But if you can stomach it, and know your numbers/tenants/team, you'll be in good position to better your financial future.  

@Dominic Mazzarella Not sure what happened to the lengthy response I wrote out - i'll try to re-summarize it here.  I appreciate the insight! The factors you mentioned are very important to keep in mind for any investment, but I like investing in areas I know.  I may look at out-of-state investing in the future, but I think good deals can be found locally (which I think you acknowledged). 

 @Dominic Mazzarella

@Dominic Mazzarella

@Jonathan Klemm my hope is to continue to look for opportunities, primarily multi-family but also SFR. I'm a big fan of value-add opportunities, whether it's buying something currently undervalued & fixing it up to my standards, or buying something that has additional income opportunities that have yet to be incorporated. I've shown partners & clients properties anywhere from Rockford to Kankakee, and anticipate continuing to do so. I like the LaGrange/Brookfield areas and think there can be some good value to be found in both areas.

Hey fellow suburban Illinois BPers - 

Not sure if this has been sent/shared previously, but thought it'd be good to recap - Chicago Agent Magazine recently reported that suburban Chicago was ranked the second-hottest rental market in the nation (Here’s the article.).

This confirms what a lot of us have seen: demand for rentals is really strong in the suburbs right now. Low vacancy rates, rising rents, and high tenant demand for more space/good school districts.  These areas are super attractive for investors.

It's not hard to see why.  I still think if you're an investor, you need to run your numbers carefully. 

What Do You Think? I’d love to hear your thoughts:

• Are you seeing this same rental demand in your investments?
• Any tips for navigating the competition in such a hot market?
• For those new to the area, are you considering these areas for your next deal?

If you’re already investing in areas like Naperville, Wheaton, or anywhere nearby, let’s chat! Always happy to connect and learn from others working in this market.

Looking forward to hearing what you think!

Cheers,
Jason Briesemeister
Illinois Realtor & Investor

@Bryan Christopher just wondering, since it's been 3 months, if you bought him the fridge or sent him @Mike Dymski's ice cubes? 

Hi @Justin Snead, I would say just make sure wherever you take the pre-licensing class is IDFPR approved.  There are a lot of websites that offer the course online, or if you have a college near you, they also typically offer a class that satisfies the pre-licensing requirement. Here is a recent bulletin from PSI with more information on the exam & requirements for becoming a broker. 

Welcome @Jamal Mohammed! I'm not too far from you in Wheaton.