New to investing I would like some networking and advices :)

Member since 2025 · 4 posts · 2 votes

Hello everyone,  New to investing looking to buy a single family home with Cash . in Chicago land area .
Is it possible to get a good deal since paying cash ? I am looking  in REOs ! not sure where to find or look for a good deal
Is it better to invest in single family houses or Apartments ?
Thanks
Nas

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Collins Bonnema

Real Estate Agent · Chicago, IL · Member since 2022 · 11 posts · 4 votes

@Nassim Ioussaghane, what are your goals? Are you looking for cashflow or appreciation? I specialize in coaching real estate investors in the Chicagoland market.

• Cashflow: Rent minus Expenses. AIM for $500/mo+ per Unit. - Note if you pay cash this should be much more.

• Cash-on-Cash Return: Invest $100K, $10K/Yr in Cashflow? That’s 10%.

• The 1% Rule: $200,000 Property? You want $2,000/Mo Rent.

• Common Sense: Deal is $1M Dollars and $500/mo Cashflow - Don't buy it

Let me know if you want to set up time to discuss putting together an investing strategy.

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Paul De Luca
Real Estate Agent · Chicago, IL · Member since 2018 · 1k+ posts · 1k+ votes
1y
@Nassim Ioussaghane
Yes, you can get a good deal when paying cash. In fact, it's generally easier to get a discount when paying cash because you can close more quickly and you don't have to get approved for a loan.
You can make money with single family or multi-family. What's your strategy and buy box?
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Nassim Ioussaghane
OP
Member since 2025 · 4 posts · 2 votes
1y
Paul De Luca
Thanks for replying , Locations I am looking for are :
Des Plaines , Skokie , Park Ridge , Niles , Mount Prospect , Rosemont , Wood Dale ,
Arlington Heights , Palatine , Schaumburg .
No ugly houses , No HOA ....
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Paul De Luca
Real Estate Agent · Chicago, IL · Member since 2018 · 1k+ posts · 1k+ votes
1y
@Nassim Ioussaghane

I recommend connecting with an agent to get set up on a property search so they can start sending you properties you might be interested in. If you have any questions, feel free to PM me.
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Collins Bonnema
Real Estate Agent · Chicago, IL · Member since 2022 · 11 posts · 4 votes
1y
@Nassim Ioussaghane, what are your goals? Are you looking for cashflow or appreciation? I specialize in coaching real estate investors in the Chicagoland market.

• Cashflow: Rent minus Expenses. AIM for $500/mo+ per Unit. - Note if you pay cash this should be much more.

• Cash-on-Cash Return: Invest $100K, $10K/Yr in Cashflow? That’s 10%.

• The 1% Rule: $200,000 Property? You want $2,000/Mo Rent.

• Common Sense: Deal is $1M Dollars and $500/mo Cashflow - Don't buy it

Let me know if you want to set up time to discuss putting together an investing strategy.

1 Reply
Victor SoBusiness Member
Real Estate Agent · Chicago, IL · Member since 2017 · 325 posts · 193 votes
1y
@Nassim Ioussaghane hey nassim, I have properties in Niles, Schaumburg, and Prospect Heights. Shoot me a DM and let’s connect!
Victor So Real Estate LLC517 Reviews
Website View Page
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Joseph Bui
Lender · Nationwide · Member since 2023 · 362 posts · 237 votes
1y
I’m not familiar with the Chicagoland area but I do have 10 doors across Memphis and Detroit and happy to knowledge share.
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Daniel Baker
Property Manager · Member since 2022 · 28 posts · 24 votes
1y
Paying cash can definitely help you get a better deal, especially with REOs (bank-owned properties), because banks prefer quick, hassle-free sales. You might be able to negotiate a lower price or better terms since there’s no financing risk. When you drive around the city and see those signs that say “will buy your house for cash” call those guys. They are wholesalers and usually have good solid deals for people with cash. Make sure you understand what you are getting into though, they will likely need lots of work.

For finding REOs, here are some options:
- MLS: Work with an investor-friendly Realtor (I can help you connect with one if needed).
- Auction Sites: Hubzu, Auction.com, RealtyTrac, and Xome often list bank-owned properties.
- Bank Websites: Some banks (like Wells Fargo, Chase, and Bank of America) list REOs on their websites. This is hard though
- County Tax Sales: Foreclosures and tax liens can be opportunities if you do your due diligence. Make sure you talk to someone who has done this
Single-Family vs. Apartments
- Single-Family Homes: Easier to manage, lower tenant turnover, and more exit strategies (resell to homeowners or investors).
- Apartments (Multifamily): Higher cash flow potential, economies of scale (one roof, multiple units), but more management-intensive.
It depends on your goals. If you want passive income and long-term appreciation, multifamily can be stronger. If you prefer easier management and flexibility, single-family might be better.
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Nassim Ioussaghane
OP
Member since 2025 · 4 posts · 2 votes
1y
Daniel Baker . Thank you :)
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Jarret Jarvis
Real Estate Agent · Chicago · Member since 2021 · 168 posts · 62 votes
1y
Hey Nas, welcome!

Paying cash can definitely help you score a better deal, especially on REOs — banks often prefer quick, no-hassle closings. You can find REOs on sites like Auction.com, Hubzu, or through a local agent with access to the MLS.

As for investing, single-family homes are great for beginners — easier to manage and sell. Apartments can offer better cash flow but require more oversight.

I'm local to Chicago if you ever want to connect or chat more! #LETSGO

— Jarret
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