I’ve heard that this neighborhood doesn’t really have any problems from a social worker but outside areas aren’t good. 3/4 units are currently rented at $900 each, renters pay utilities.

I have properties all around popular spots, including smoky mountain.

I just don't want to keep waiting but waiting for nicer property that is B to A neighborhood may be better.

Interest rate is 6.25% Nice house, nice neighborhood.

I've done multiple BRRRRs myself and tend to find the best opportunities in C, C+, and B- neighborhoods where the inventory of distressed homes is still there. 

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

They just don’t keep up with the growth appreciation rates of other properties in the same neighborhood or even the same building.

I get it - tough spot to be in.

Chicago has plenty of opportunities for value-add projects, and I'd be happy to share some insights or introduce you to a few local investors I've worked with.Feel free to reach out if you want to talk strategy or specific neighborhoods!

Am interested in diving into deal analysis to learn how to spot a good multifamily deal.