New Investor Chicago (Irving Park)
Hello I am a new investor in the Chicago Area, I am currently in process of offering on a property. It is a legal 3 flat unit in Irving Park, I have included my excel analysis below. I will buy with FHA financing (3.5% down) then refinance into a traditional 20% in a year which increases the cash flow significantly (in addition I will raise rents from below market $1000 ---> $1200)
I have 2 questions
1. What is a good property management company in the Irving Park area, as I do not plan to live in this location for longer then a year.
2. Do you think this is a good deal, and do you think I would be able to get them to accept an offer closer to $300k
