All Forum Posts by: Joel Zawko

 Agreed, I have about 10 buildings in Chicago, and I cater specifically to Section 8. I came from that type of an environment, so I feel it is my duty to give back. With that being said, we do vet them stringently, and hold them to a standard we do for market rate. To be honest, I have had one tenant in my time who has been difficult to deal with. I take pride in giving people nice clean places to live. 

I also like the rent on time, which is part of dealing with HUD. I recommend it.

Looking for agent(s), who work primarily in the south and west sides of Chicago. We are looking to purchase anywhere from 3-5 properties in the next three months and have very specific criteria. If interested, reach out and let me know. 

Hello Jonathan, I would like to attend your event, do you have more information re date/time?

Hello BiggerPockets,

I am looking for financing a rental property in the Chicago area. Having trouble finding lenders who do deals for large multi-units. I have excellent credit and 25% down is not an issue. Anyone have any suggestions for buying buildings like this in Chicago? 

I appreciate any assistance/guidance anyone may have.

Have a great day,

JZ

Chicago resident here, I live in Logan Square. We have a decent amount of rentals in Chicago, mostly Section 8 on the South and West side. The wife owns a property management company and is also an agent, so I think we have a pretty good perspective of the Chicago market. I would recommend buying in the city 100%. There are some serious deals, where a 20-30% ROI is possible, you just have to put in the work. We seem to find them, just need to look. I will say, the political climate is not the best, but I would not let that deter you from getting after it. Best of luck.

@Ebi Amiri - I think you should look into the stats, they differ greatly from your understanding. 

Agreed, Section 8 has a stigma that is not deserved. We have multiple properties in the south and west side and also own a property management company that specializes in Section 8. We have great tenants and if you screen properly, the process is often smooth. If you have any questions about the process or how to handle the inspections, let me know. We will gladly help. 

It is interesting how the economic situations vary from state to state, or neighborhood to neighborhood. My wife and I live in the city (Chicago) and own/manage mainly Section 8 properties, which seems to be doing very well. We have not seen a dramatic uptick in foreclosures, and have actually seen the prices on the south and west side increase. 

I do hope the foreclosures stay relatively low, as so many people are being hurt. I want to grow our portfolio, although we do not want to be a grave dancer. I hope you landlords out there are giving back and taking care of those in need.

Welcome Samuel, We currently own a bit of real estate in Chicago and the wife owns a property management company that is mainly focused on Section 8. We do quite a bit of rehabs, although we are not big into flipping. Have you worked with small projects before? Mainly, single family and multi-units up to 6 units? If so, can you send over, or discuss some of the projects you have done that fit this model? 

We are always on the hunt for mutually beneficial relationships, let us know how we can help you.

We will be there.