Thread: Real Estate
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      08-22-2019, 02:41 PM   #41

Drives: 2014 335i
Join Date: Jun 2017
Location: Chicago

iTrader: (1)

Located around the Chicagoland area, I'm currently only 25 years old but I'm looking to buy a small condo just to have a place to sleep and what not. Not a big fan of paying rent and just throwing that money away when I can just buy and if I decide to move out then I can just rent out that condo to pay off the rest of my mortgage. Prices from what I've been looking at are insanely high from what the prices were years ago and not to mention the property taxes in our state are no joke.. Even though I can afford a more nicer and bigger place for myself, I just don't see the logic in it since I'm rarely ever home because I'm always working. Plus I'd rather save that extra money to buy investment properties in the near future. I work with a lot of general contractors and developers on a daily basis and even they're telling me from their own experience (and connections that they have) that the market has peaked around our area and that they're beginning to sell off many of their rental properties now so that they can buy twice as many in the future once the next dip in the market happens. Of course no one really "knows" when the next dip will be or what the future holds, but looking at the current state of the market I also am saving at the moment to buy a couple of duplexes or a fourplex when the time is right and hold them as rentals and eventually flip them to buy more. The question also is do I want to buy these properties in IL or another state.. I've been starting to look into Texas/Arizona for rentals as more and more people are moving there within the last few years and not to mention the taxes are muuuuch better than here.
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