New investor in Chicago Illinois

4 Replies

I am a new investor. I found a lender already, house hunting at the moment but it kind of hard finding a good deal or house To flip in Chicago and the suburbs. I will like to connect To other flippers in Illinois

@Paul De Luca Thanks again!

@Bukola Irinyemi Happy to connect and see how we might be able to work together.  It's definitely hard to find a deal these days, but if you set some strict criteria and make a bunch of offers something will come through.

@Forrest Williams - If you have time we should also connect as well.

Hi Bukola,

There's several things you need to let us know. Like what is your price range and budget? Do you have a "reliable" contractor to rehab the property? Will he give you a free estimate or will he charge you, to come up with the rehab cost/estimate? Are you looking for an A,B,C or D area? I don't suggest a D area for flipping. Do you know how to run the numbers, to assess weather or not it's a good deal? Do you understand that the amenities you add to the house, should coincide with the area? These are all very important things you need to know. Also, the market is very very tight right now. It's definitely a sellers market. We're struggling to find good deals for our investors right now. That doesn't mean there aren't deals out there! If you're strictly looking on the MLS, it may be next to impossible to find a good deal right now. However, you could get lucky and find something. You might want to join a REIA club near you. They are groups that typically meet once a month. They attract investors, wholesalers, realtors and other people in the business as well. They can be a great place to learn the business and to also network with others. I hope this helps and best of luck to you!

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