Becoming a landlord in Chicago can provide you with a steady income, but there are many considerations before you take the first step. One of the biggest may be the factors involved in buying the real estate. At Bradford Miller Law, P.C., we have helped many investors who wish to own rental properties purchase multifamily homes.
Location is an essential element, according to the Chicago Tribune, not only because of the draw for the type of renters you want, but because of the way the neighborhood affects the amount of rent you can ask for. You will also need to compare the costs of similar properties, and not necessarily just the ones nearby.