David Schumacher, author of Buy & Hold was from Hermosa Beach and bought property on the beach and Strand, I think.

You might consider other areas--West Humboldt, Hermosa, Pilsen.

Because I know a lot of folks debate what the South Bay is, as I understand it, we are talking about: Torrance, Palos Verdes (and RPV, Rolling Hills), Redondo Beach, Manhattan Beach, Hermosa Beach, Gardena, Hawthorne, Carson, Lawndale, Lomita, Harbor City, Lenox, and Inglewood.

You should explore some of the more up and coming neighborhoods in Chicago like Humboldt Park, Hermosa, Belmont Craigin, Bronzeville, etc.

I've received all kinds of different advice on how to start so I would love some recommendations for great companies/agents in this area.Just a little about me; I was born and raised in Southern California (Hermosa, Redondo, Torrance area) and have experience as a leasing agent at a property management company for the last 7 months.  

I want to Spec build in nicer nearby areas (redondo beach, hermosa beach, manhattan beach, culver city, los angeles etc).I hold a real estate license but do not have it hanged with a local broker.

I would say some good multi-family areas to look in for that price range maybe, Portage Park, Irving Park, Jefferson Park, Parts of Albany Park and Avondale, Belmont Craigan and Hermosa could work as well. 

Hi Bigger Pockets Members in Chicago,Its been a long two months but I'm cautiously optimistic that I just locked down a 3 flat over in Logan Square Hermosa with a https://www.redfin.com/IL/Chicago/2441-N-Avers-Ave...Overall cost: 506,0003.5% down+closing costs: Approximately $26,000Monthly Payment (PITI): $3760/monthCash on Cash Return: 23.5%Estimated total updates: $55,000Estimated Cash flow: $4200 / monthEstimated CAP Rate: 6.8%Rents:Unit G (2 bd / 1 ba): Current 900 - Raise to 1100- updates include: -Adding in-unit washer dryer-update kitchen, pretty much need a new kitchen and new appliances.

Chicago neighborhoods seeing strong gentrification (in no particular order).....Avondale, West Logan Square, Hermosa, Humboldt Park (North of North Ave. or between Western Ave. and California Ave.), Albany Park, Irving Park, Rogers Park, West Edgewater, Pilsen/Heart of Chicago, Little Village, Mckinley Park, Bridgeport, East Woodlawn (east of cottage grove) and Bronzeville. 

Hermosa Beach has a cool Blues bar.Are you a pilot?