Bought a 2-Flat in Forest Park, Illinois
I just bought a foreclosed 2-Flat in Forest Park for 155000 and it needs $10000 work. It sold in 1997 for 156000. It was a foreclosure with multiple bids and I am happy to get it even if I revised my bid when the REO seller Company said that the had multiple bids. It is 8 miles west of Chicago downtown and is a nice muiddle class suburb about 1.5 mile distance from my home. Expected total rent is 2400 which is pretty good ratio for this area. Very few foreclosures are available now and if there are they have multiple bids.