All Forum Posts by: Lindsay Rudolph

Thank you for responding to my post! Any recommendations would be helpful! Thank you so much!

Hello! I'm newer to the Chicago area and am looking to invest in rental properties in the Bronzeville area. I'm looking for some contacts to start building up my core team - realtor familiar with rental property, contractor, property manager, etc. Any recommendations please let me know! Thank you!

It will be owner occupied. I guess my real question is: is a $700,000 deal for the first deal a good idea? Is it too much risk for a first time investor in a big city? Also, should the 2% deal apply to bigger deals such as this one in Chicago (where all real estate prices are ridiculously high).

I already found a financial institution that has offered the loan with less than 20% down with PMI. I just am wondering if that is a good idea for the first deal rather than an FHA verses conventional with a lower budget.

Hello! As a brand new investor, would a jumbo loan be a good option for a multifamily property (looking at tri/quadplex)? Looking in the city of Chicago and would be putting down less than 20% due to the high cost of multifamily properties in this city. Credit is over 800. Looking at 400-600,000 for a jumbo loan and income currently is ~80,000/year. Any thoughts or input? Too risky for first deal? Thank you for all the input!

Thank you everyone for all your wisdom! If you think of anymore, as I'm a newer invester, I'd appreciate it! Thank you!!

I would probably plan on living at the multifamily there for a year or two (fixing it up cosmetically) and then keeping it to rent out. I don't want to fear for my life by any means but I'm willing to live in an o.k. area for that time frame. 

May - I'm looking for more of a buy and hold type of investment...not flipping - although I don't mind putting a little cosmetic work into the house. 

Has anyone invested in chicago area? Is south side by the lake a good area to invest? Has anyone heard about the new development around 87th street by the lake along the new lake shore drive? I'm contemplating on investing in chicago area where it is still affordable. Thanks!!

Thank you so much for your input!! If you have any other advice please send it my way!