/biz/ - Business & Finance

Chicago has an abundance of this housing type, you're looking for a 2-3 flat. In an 80+% white, safe neighborhood (yes they exist) you're looking at about 800k-1m for a turnkey 3 flat. I'm actually in the market for one right now.

In this market you have two options:

1. buy in an established neighborhood
>higher buy-in
>larger pool of potential renters
>likely higher-quality tenants
>less likelihood of crime
>less appreciation upside

2. buy in a gentrifying neighborhood
>lower chance of high-quality tenants
>higher rental yield
>higher appreciation potential
>higher likelihood of crime


This one is a pretty good deal
>4 units, all large
>great neighborhood
>potential short-term rental option for at least one unit
>easy transit access
>VERY rental-heavy neighborhood
>80% white or higher zip code

>>50928303
Anon here is what you need to do rn
>buy this 13 bed row house in wrigleyville for 1m
>chicago is the only semi-affordable large city left in the US
>put 150k down
>keep 50k in reserves as there will absolutely be repairs needed
>rent by the bed (1k-1250/bed) to your friends/their friends with corporate jobs that are fresh out of college
>the garden unit (basement) in this building is a 1-bed nonconforming unit, meaning you legally cannot rent it - live there

In 3-4 months time you can be living in a basement (again), doing exactly what you're doing now, with equity built-in, making 60k/yr after mortgage is concerned, just to fuck around with.

Or at least if I had 200k in the bank that's what I would do. best of luck