Seeking off-market deals in western Chicago suburbs
Attention all wholesalers and bird dogs, my rehab company is expanding this year and we are seeking off-market deals in the western Chicago suburbs that are listed below. We are cash buyers, with funds available to close in as little as a week. We buy most of our properties with an ARV between $150k-$250k, but we're willing to consider every opportunity. For an initial number, please use the 70% rule. Bring us the deal and we can dig deeper if the numbers pencil out.
For SFR's, please ensure there are at least 3 bedrooms or room to create at least 3 bedrooms without using the basement. Ideally 2+ baths, but we've done plenty of 3/1 projects as well.
Occasionally we'll take on condo/townhome projects, but generally prefer SFR. If you have a condo/TH deal that has spread, let us see it.
Lastly, we are interested in small multi-family as well, just stay clear of the rougher areas (if there are multiple cars on blocks, blankets and newspaper used for window coverings, or several people hanging out on the front patio all times of day, we're not interested). Hopefully that covers it, but I look forward to questions about the points I missed.
A few specific requests:
1) Please do not put an MLS deal under contract then bring it to us for MLS price + 5%. That's not how it works, you've added no value. I'm amazed at how many wholesalers think this is ok. However, if you're able to negotiate the MLS price down considerably and make some profit margin for both of us, I'm all ears!
2) Please do not re-wholesale a deal in an attempt to make a quick $10k for doing nothing. Again, you've added no value. The wholesaler that found the deal has likely priced it in a way to make us both money. When you step in between, you ruin it for both of us. Please bring deals that you have located on your own.
Thank you very much for your time and we look forward to hearing from you!
Target areas west of Chicago, Illinois: Bolingbrook, Plainfield, Naperville, Darien, Woodridge, Westmont, Lombard, Villa Park, Glendale Heights, Carol Stream, Wheaton, Lisle, Elmhurst, Downers Grove, Glen Ellyn