All Forum Posts by: Robert Obniski

Hello all,

Currently I am only buying and selling homes as far as my 'investing goes' but reading more and more content on buy and hold investing. I'm intrigued by the idea as a live in owner of a 4 flat somewhere here in Chicago.

Ive made it my goal to have purchased a 3-4 flat in Chicago and have myself living in one of the units. (Living in an apartment with my sister who is going nuts because of dental school is no fun) 

I'm still in the research stages of the process and know I will most likely be purchasing a building where the owner wants out or is foreclosed on. 

My question here is, when going to buy something like this which is an investment and a my new home all in one, where or what do I use to determine a good location?

I know i can do things like read the paper and be vigilant to find out where new schools or arenas or shopping centers are being built but how do I find out where teh good neighborhoods are, where rent is going up, where the new up and coming district is, etc

Chicago is a huge city and I'd really like to make this first purchase the right one. Any info is appreciated.

Thank you

Dont want to hijack the thread here...

But @Jeff Nydegger and @Ben Walhood 

Either one of you guys sell homes to fix n flip investors? Im looking to get better results than the MLS and my agent.

I currently live in Lombard and just like any other place, there is the good and the bad. I live right on the line of Lombard and downers grove. From what ive gathered Downers grove is on the up n up. I havent had any adventures in Lombard to know the area too well but the parts i have been to seem like its a good place. But i would stay closer to the downers grove side of Lombard.

As for Westmont, I am closing on a fix n flip condo this week. I have driven through part of westmont which were dated but on the contrast ive driven through parts with mansions. I chose the condo in westmont not so much for the city of westmont but because of the age, price, amount of work, and very close to main roads. I wont be making a killing on it but there will be profit. 

I think the areas you have asked about are good places as long as the purchase price of the property for you is a 'good deal'

Most deals are made in the purchase price.....or so they say. Im new to this too :D

Hope this helps.

@Justin Hennig Thanks for the congrats and wish of luck! I have to shop around yet to see what i will do. But I will be replacing the appliances so they will no longer be white, but the floor will be so maybe the subway tile with dark grout can tie in the floor, counter top, appliances. 

@Terri Pour-Rastegar Thanks for the suggestion. This will be a flip. Trying to keep costs down but if I get teh right price for glass/tile/stone i would like to go with that.

@Jody Brown I agree to an extent. I don't like the glass/tile that are square and every big box store carries the, but if i find one where all across the board, style/price/material is nice, I will go with that. As for warehouses in the area, I know they're there, I just haven't been around to know where. I will find them though! And wet saw...I already have one!!

@Colleen F. This is a flip and I also see your vision of bathroom, but after spending a couple of hours looking at kitchens with the subway tiles, its a hit or miss. So Once I really get in there ill have to decide then.

@Mindy Jensen Thank you so much!! I haven't gone there yet but I know Chicago has to have a lot of warehouse/outlets/wholesale type of store that will definitely give me the best prices. I have yet to check out this one but its on the agenda for today. Too bad you moved form the area, we could have linked up. Do you know of any other great stores in Chicago regarding, flooring, lumber, appliances, cabinetry, etc ANYTHING that will help me in the REI market? Thanks in advance.

@Lumi Ispas Glad I have someone vouching for the store. It is on my agenda today to go take a look. We'll see what I can find. You mentioned you are from Europe, what country? Also, since you're in the area (I also asked Mindy) do you know of any type of great stores in Chicago regarding, flooring, lumber, appliances, cabinetry, etc Anything that will help me in the RE flipping market? Trying to get the lowest prices! 

Thank you everyone for your knowledge!! Ill try to pay it back if I get the opportunity. 

I agree. That sand/beige/brown might look really good with the rest of it. 

Anyone know the name/color of those cabinets?  That's the only way I can get any real results from Google. 

Not a bad suggestion.  Looking at pictures now. Definitely would go with a darker grout. 

I'm not sure if I have the right firm but if not please point me in the right direction.  

I'm just starting out as an investor and about to close on my first property. I'm trying to get almost everything so I can get right to work. 

Well, my design skills/choices aren't very developed yet. In the attached picture you'll see a part of the kitchen. (Idk how to rotate the picture)

Of course the appliances will be stainless and knobs on the cabinets changed. But I'm having trouble visualizing what kind of backsplash will go with this kitchen. Specifically the color of cabinets with the black granite.

Any help is appreciated! 

Thanks!

Wow great job. That kitchen looks like what I want to do when i have to remodel a kitchen. 

You said you wanted to find some more places to do on the side. What are you currently doing?

@Peter MacKercher Thanks for the link! probably use that!

@Jasmine Lee I havent looked at them in the way I should when asking this question. Ill take another look. Also thanks for the color suggestions, this house will need a new kitchen and I might just go with what you suggested.

@Andrew Cordle Great pieces of advice! Although the garage is attached. I think im just going to give it fresh white paint.

@crystal 

@Crystal Smith I will have to dig deeper into the comps provided. I hope they have what Im looking for. Thanks

@Peter MacKercher 

Thanks for the response. Now, when you say paint the floor are you suggesting like an epoxy type paint? How is that compare to carpet price wise?