All Forum Posts by: Michael Newman

Anyone have any thoughts on the area by the 6400-6700 block of S. Harvard Ave.?  

Mark, Mike -- thanks  for the insight. If you have some property manager recommendations  would you mind sending me a PM? Thanks. 

Trying to wrap my head around the Chicago Southside sub market. Hoping to hear from folks who have invested there or professionals in that market for multi families. Been doing some research and learned from some articles and research reports that there's negative population growth, fairly stagnant wages, and Chicago has had a 50% increase in homicides in the past year. The properties (8-16 units) I've reviewed generally look attractive based on some very simple NOI calculations, but if stagnant incomes don't support rental increases it seems like the operating expense inflation will destroy cash flow in only a few years. Does anyone have on the ground knowledge/experience who can speak to the ability to increase in rents and operating expense inflation in the area to include utilities, insurance, property taxes; and what affects they have seen over the past year given the increase in crime? Neighborhoods I've looked at include Englewood, Jackson park, Bronzeville, Hyde Park, South Shore.

If anyone has recommendations for apt building property managers pls pm me. 

Thanks

Michael

Adding to the above, has anyone worked with EquityBuild in this manner previously?  Are there any other turnkey firms that do apt buildings?

Thanks. 

All,

Great advice and comments. I definitely plan to visit and see neighborhoods in person, as I look at properties. At this point I'm exploring buildings of not more than 25 units so nothing huge. It will be my first apt investment with my partner. 

I've talked to Equity Build about their turnkey process involving purchase, renovation, and management. But still in my research phase. I expect that even if I move forward with them I'll want some independent advice/team that I can work with. my knowledge of the area is rudimentary at best--lived there about 20 yrs ago while working at a bank. Thanks again guys. 

 Hello all, 

 Hoping to get some first-hand knowledge and/or opinions on the best southside Chicago sub markets for apartment building investments. I've heard that Woodlawn, Bronzeville, and Jackson Park highlands are submarkets that are trending upwards or are expected to be in the near future.  I believe these are close to the University of Chicago and the proposed presidential library. Can anyone confirm this? Or does anyone feel bad these areas are not good investments?   Other areas that people think are good? Thanks in advance. Trying to learn about the investment climate there. 

hey all,

Noticed this thread deals mostly with equity build finance which invests in the notes on properties.  Has anyone bought the building from them outright as s turnkey multifamily apartment building?  I heard from them that they offer both avenues. Personally I am looking into buying a building.  Welcome others thoughts on this company as I do my research. Thanks. 

Great. Thanks so much. 

Thanks all. 

Thanks all