You’ve decided to invest in real estate. Okay, so you’ve made the commitment. Your all 
dressed up and ready to do, but where to start.
Run out and buy business cards, for-rent signs, letterhead. Yeah, these are all good things, but all in due time.
The first thing to consider is in what neighborhood to invest. The best for-rent sign in the world won’t fill a building in a neighborhood where the cops won’t even go.
You need a neighborhood that is close to public transportation, where people can get to and from work, tenants with jobs are good. You want schools close, preferably within walking distance, renting to families is also a good thing, they tend to set down roots, stick around longer and treat your investment like a home. Grocery stores in the neighborhood are great. These are the things your prospective tenants will be looking for. Without any or all of these things available to your prospective tenants translates to no cash for you.
Chicago has many, many great neighborhoods with apartment buildings that have all of the above and make for awesome and did I say....profitable investments.
people first...then business Ran Right Realty - Riverside, CA
agent & author
Owning an apartment building as made many people wealthy if they can weather the storms and stay the course. The long term gain is there and many retire very comfortably with guaranteed income..good one Kimmy
Aug 22, 2011 03:35 AM
Long & Foster Real Estate, Inc. - Rockville, MD
Associate Broker - Rockville, MD 301-758-9500
Kim what time of numbers are you talking about? What do you think is a good ROI? What kind of CAP rates do you have? I'd love to see you post some examples.
Aug 22, 2011 03:35 AM
Executive Realty Group - Skokie, IL
Richie~ Thanks for stopping by and the kind words.... now if I could just convince a few buyers of that fact :)
Yvette~ Stay tuned I'm working on Marketing Reports that will spell that out. In short, most cap rates in Chicago for B & C class buildings are coming in around 9-10.
Aug 22, 2011 03:41 AM
Tim Francis Realty LLC - Atlanta, GA
Realtor, Buckhead Atlanta Homes for Sale & Lease
Kim,
There are great investment opportunities out there. Knowing the right go to people like yourself can make it a much better investment of their dollars.
All teh best, Michelle
Aug 22, 2011 06:12 AM
Executive Realty Group - Skokie, IL
Thanks Michelle~ There are some really tremendous deals here. I think that a lot of people are getting nervous because of what's going on with the economy. Bottom line they just don't want to take a risk.
Aug 22, 2011 06:54 AM
Keller Williams Realty Lafayette/West Lafayette, Indiana - West Lafayette, IN
Kim, how do your Northwestern student apartments do with rent/and capitalization compared to the more family oriented units outside of Evanston?
Its a good thing you posted today for I was going to run a milk carton post on you since you have been MIA for quite some time! ^_~
Aug 22, 2011 01:45 PM
Executive Realty Group - Skokie, IL
Bruce~ I was in the grocery store over the weekend and swore I saw my face on one of those cartons. I rushed home and starting writing.... just in case. You've been on my mind, after the State Fair tragedy, hope all is well!! As for NU apartments, the cap rates are looking the same. Although the rents and building pricing is somewhat higher. I'm working on Market Reports for each area, stop back and check it out. I promise I'll be here more often :)
Aug 23, 2011 03:53 AM
United Country Ponderosa Realty, Red Feather Lakes, Colorado - Red Feather Lakes, CO
REALTOR, Red Feather Lakes, Colorado
Hi Kim, I always enjoy the information you provide. If I had the capital, I'd be calling you in Chicago for sure - just curious, where is your retirement beach located?
Aug 24, 2011 04:15 AM
Executive Realty Group - Skokie, IL
Hey Mary!! Anytime your ready let me know. As for that beach I'm not sure yet. Thought about the usual places cali or florida.. but I really like the Carolina's too. My daughter is a beach baby too and she tells me she's wants to live near one..... hate to say but I'll probably follow her.
Aug 24, 2011 04:22 AM
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