All Forum Posts by: Sam Amir

@Joe Jackson, I'm no expert, but we got insurance and formed a series LLC here in Chicago which is allowed in some states, Illinois being one. It allows you to have multiple properties under one main LLC entity and branches for subsidiary LLC's under the main entity. This is good if you know you're going to have a big portfolio. It'll save you money and time filing a new LLC for each different property and also a ton of paperwork.

Here's a quick definition: "Assets owned by one [LLC] are shielded from the risk of liability of other [LLC] within the same series LLC. A series LLC is similar in concept to a corporation with several subsidiaries."

Maybe ask your lawyer about that? Click here for more details.

Hope you're not sick of "LLC" haha.

Good luck!

Congrats @Patrick Moore. Good luck my man!

@Wen Guo

As others have said, this is in Englewood. One of the worst areas of Chicago. The only reason you would even CONSIDER this property was if you had a badass property manager you knew in the area that could handle the tenants and the area. Otherwise pass on it. In fact, most of the 1-4 units you'll see under $100k are in areas like this.

Here's a general rule of thumb, stay above highway 290. Definitely use Colin's advice on using the crime spotter. 

Chicago is actually pretty expensive compared to other areas. It seems your comfortable with investing in other markets, check out http://www.marcusmillichap.com/  to research trends in other geographical locations.

Good luck!