Updated about 9 years ago on . Most recent reply
% Buying in Chicago %
Hi BPC,
I am currently living in Chicago wanting to purchase a residential multi-unit (2-6) building in the Chicago and surrounding communities.
I am wanting to do a creative deal as I have experience with terms and negotiation. Also if anyone would like to JV on a deal I am open to that as well.
What I can bring to the table is knowledge to put a deal together and the necessary contracts. I also have a network of experienced r.e. investors that I may call upon at anytime if need be.
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Unless something has changed, you can get an owner occupant loan on a 4 unit, so that would be the way to go as it will limit your down payment to a small amount. Once you hit 5 units you'll be stuck putting 20% down. Just something to keep in mind.