Buying property in Chicago area to rent ?

Lifestyle Bazaar Talk
1

with a capital of 300k :

— is it advisable to buy multiple properties (condo, house; in the city or in the suburbs?!) or invest in 1; which one ?
— how much income can one expect ?

any cons of renting out an accommodation in Chicago (or US in general) / being a landlord ? difficult to rent out ? dealing with the lessee.

2

Re: Buying property in Chicago area to rent ?

You can buy just one single family home in some halfway decent neighborhood in Chicago area for that kind money.
If you are absentee landlord then your best bet is to use some rental property management company.

If you are looking for a multiple dwelling unit in foreclosure , contact some reliable realtor in Chicago area.

I would advise that you buy multiple small single family units in some smaller but booming city in US like Charlotte. With this kind of capital you can do so in a city like Charlotte.

3

Re: Buying property in Chicago area to rent ?

Best advice ever! Please follow it. Even if you will be present, you may not want the hassle, so the company would be well worth your money.

4

Re: Buying property in Chicago area to rent ?

I guess you can buy only one.

Yes if you have a wish to invest and want to take your business to the next level it is good to buy some properties and give out for rent.

Well in my opinion this way is a quite slow to get profit but a fact is that it is long term investment.

If you do not want to mess up with the deals you should hire a reliable person,agent or a company which provide services according to job. In such way you do not have to bother about the deals and you would be informed when transactions made.