Home Buying in Chicago>Question Details

Pam, Home Buyer in Round Lake Beach, IL

what is the best neighborhood for buying investment property in chicago- market trends? and what type of investment property is best return?

Asked by Pam, Round Lake Beach, IL Sat Feb 9, 2013

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close to blue line or red line south loop or multi unit north side
0 votes Thank Flag Link Mon Feb 11, 2013
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0 votes Thank Flag Link Mon Feb 11, 2013
Work with a Lender and Realtor to help you refine your goals. This is not an easy business and if not properly prepared you could lose a lot of $$$.
Web Reference: http://www.bjdhomes.com
0 votes Thank Flag Link Sun Feb 10, 2013
Would you be willing to work with a rookie investor. I have a huge financial support group. I need help finding and locking up good potentil investment properties. I get compensated quite well and would be willing to split comission with you in exchange for help.
Flag Thu Aug 22, 2013
I would go in an area your familiar with. A good land lord is one who is familiar with his product. They know the neighborhood and are familiar with the clientele that will come with it. If you go into it uneducated, it typically wont end as a good investment for you.
0 votes Thank Flag Link Sun Feb 10, 2013
There is no 'best'. It is a huge city and tons of suburbs. There are many good neighborhoods/burbs for price appreciation. Multi units probably gives the best ROI, yet single family houses at the right price and in the right areas could be very good. Condos have probably the least return, but also have the least maintenance for the owner to deal with.
Almost ALL markets are trending up, but the degree to which that is true can vary a lot.
0 votes Thank Flag Link Sun Feb 10, 2013
Multifamily has always been my favorite and the most safe investment in my opinion..There's fierce competition for some this properties in some areas. You may also want to consider single family homes in specific areas.

Jose Hernandez
Coldwell Banker
0 votes Thank Flag Link Sat Feb 9, 2013
The higher the risk, the better the return. I believe that multifamily is best near an "L", lake and university.
0 votes Thank Flag Link Sat Feb 9, 2013
There is no simple answer to this question. It all depends upon your risk tolerance and your financial goals. The riskier the investment the higher the potential return in general. You need a realtor who can work with you to establish metrics for evaluating properties and then use those to find the best investments for you.
Web Reference: http://LucidRealty.com
0 votes Thank Flag Link Sat Feb 9, 2013
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