Hi all, I am thinking about organizing a meetup for NY/NJ investors who invest in PA near where I live, which is the midpoint between Jersey City and Allentown.

The weather of Chicago and how various neighborhoods and suburbs react to the signs will test your patience and grit, but, if you can last, you'll have some leads.

What I can say is that flat lots are in demand by the builders so those neighborhoods are likely to have the shortest construction cycle, comparatively speaking.

I paid close to asking price, but it was the perfect property for us and we were tired of looking at the same old same basic ranch homes in fair neighborhoods.

It seems to be one of the next areas to become gentrified but, is definitely not a bad neighborhood.

The house itself isn't all that great, it's 3 thousand square feet, but nowhere near as luxurious as the rest of the homes in this neighborhood in terms of design; and I'm getting this for $1,250,000. 

. :)Which brings me to the hunt for a distressed multi family in an decent neighborhood.

I passed on it the minute I saw the house was located in a very poor, rundown neighborhood.

The financing is also tough but you can get 55% LTV in most cases on properties in B neighborhoods or better returning over 5%.

So, a lot will depend on the prices in that neighborhood, whether it's worth it to build