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Investing in Chicago area real estate
Considering doing this. I can probably put $200-$350K cash into this and want to use as much leverage as I can since hopefully poker will continue to do give me more cash. I could possibly partner up with my family and get more if I need to.
Looking at something that I can divide up into a few apartments. I would buy it as a rental property and am hoping to get enough rent to basically pay off the mortgage then make money through appreciation. Any areas look set to grow? Should I primarily be looking at foreclosures? My mother is very good at knowing how to fix up houses and she would probably be managing the building for me. Would like something that is not on the south side because my family is from the northwest and it would be too much commute. Also, are there any real estate forums that you guys like? |
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