All Forum Posts by: John Anderson

^^^^^^

As far as number go.

Awesome I have been looking at little village myself, I think if the politicians in springfield can get there act together the place could gentrify in 5-10 years. The rents do seem to be dirt cheap however. Out of all the areas in Chicago Little Village to me makes the most sense.

Good luck!

I own 5 condos all in A,B class areas. the 3 that are paid off are doing great and the 2 with the mortgage I am making a little money on one and losing a little on the other one. I owned them for 12-15 years and I have had a few special assessments that cost me a fortune.

A new high rise safety law in Chicago will cost me about 15k. I have also spent 16 K on a building that needed plumbing. Associations rule you and it's tough dealing with associations. I would rather pick up a single family home or a multi unit.

    What neighborhood would you get on to turn?

it is happening in Pilsen, how likely is it to spill over in little village? It appears there are some great deals to be had. It's happening in Avondale,Pilsen,Humboldt but those areas are already pricey. This is a bigger gamble but I think it has a chance for a big pay off.

   The prices in Avondale are already high. I own 5 condos and a 3 flat that I bought all in fairly nice areas. I am receiving a pretty nice cash flow being 6 are paid off. ( would not recommend condos for investors unless you buy it dirt cheap)

That being said I would like to hit it big and I missed many opportunities to do it in the early 2000's, 6 flats on division and damen  at the time we're going for 180k. 3 flat grey stones in Logan square in turn the key condition we're going for the same. I looked at these properties and passed them up and went the safe route.

If I would have bought the building on division and damen it would be worth 1 million plus probably and bring in a profit of 10k per month. I would love to invest in an area like this.

   Thanks for the great advice Crystal Smith

 I am new to bigger pockets and own 5 condos(2 in Lake View, 2 in east Rogers Park, 1 in uptown. I also own a 3 flat in Mayfair park. I am receiving a pretty good cash flow from all of these properties. (Associations are a pain to deal with), but didn't make make huge money on any of them being the neighborhoods already were fairly nice when I bought them.

I am looking to put down 30-40k in a neighborhood that could possibly gentrify with in the next 5 years. I have been looking at east Garfield park. Will drive through with in the next few days to get a better idea of the neighborhood.

My question to the forum members is

How likely is east Garfield park to gentrify and when?

How safe is it for a 40 year old white male who will be doing the managing  and repairs himself. I have a concealed carry but don't want to have to use it. 

Any one receiving a good cash flow from there?

Thanks every one

John

  The neighborhood in Garfield park still is not very safe, also the political climate in Chicago is not the greatest. I think if they could balance the budget it could happen in 5-10 years.