Price points can be appealing in the Western Suburbs, especially compared to each areas of the city. However, it's not as simple as looking at rental rates and population statistics; our guest today is uniquely qualified to shed light on all the pros and cons that come along with investing in the numerous Western Suburbs East of 294.
John Warren is both an agent and investor and founder of the Chicago West Suburban Real Estate Investor Meet-Up. John knows each of these municipalities better than anyone else out there and explains that two adjacent suburbs can be an apples to oranges comparison if you don't dig deeper than the numbers on a spreadsheet. If you've been on Bigger Pockets forums, you've definitely seen the type of knowledge John doles out on a daily basis and know that he is the real deal. If this market has been on your radar, you'll be sure to want to hear this.
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Timeline
Landlord tip from Mark 2:50
Guest intro 6:20
Questions:
What areas are you spending the most time in? 6:55
What types of opportunities are you seeing in these markets? 8:55
What are the differences between Cicero and Berwyn? 10:25
Are Berwyn and Cicero predominantly city commuters or blue collar? 12:00
Tell me about the areas a little west of Berwyn, are those areas more desirable?16:30
Can you describe the Lyons and Stickney area for us? 20:10
How have these neighborhoods changed over time? 22:20
Can you break down the neighborhood just north of 290? 24:30
What are some key things you talk to someone out of state about when looking to invest? 27:40
What value have you gotten in the Chicago Western Suburbs RE group? 29:15
Has it been beneficial doing virtual meetups since the lockdown started? 30:40
You put a lot of effort into Bigger Pockets, what drives you to provide so much value to that community? 34:00
Wrap-up questions
What is your competitive advantage? 36:15
What is one piece of advice you have for an early investor? 36:50
What do you do for fun? 37:25
Self development recommendation? 38:25
What is the miracle morning? 39:00
Network recommendation? 40:45
Guest Name: John Warren
Guest Company: Second City Real Estate
Guest Link: http://www.secondcity-re.com/agent/john/
Other Links for show notes:
RE Meetup: https://www.meetup.com/Chicago-West-Suburban-Real-Estate-Investors-Meetup/
Josh Jones - Loan Officer https://www.loandepot.com/loan-officers/jmjones
Podcast Recommendation - https://www.getricheducation.com/podcast/
Miracle Morning: https://www.amazon.com/Miracle-Morning-Not-So-Obvious-Guaranteed-Transform/dp/0979019710
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