Hello All and hope you're enjoying the holiday weekend.
I'm local to the Chicago area and looking to assemble a team with the goal of purchasing a small multi-family house hack. If you have any referrals for a mortgage broker who has experience in the space it would be greatly appreciated.
John I’d like in on that info too for the mortgage broker...please share if possible! I’m currently looking to break away from the larger banks...I know there’s better options out there.
Real Estate Agent · Chicago, IL · Member since 2018 · 659 posts · 376 votes
6y
@Victor Kamesar House hacking is a great to start investing. I can send you a few recommendations if you’d like to direct message me. @Michael Facchini is a great resource that is on the PB forums often. You might want to start by talking with him. Best of luck!
Real Estate Broker · 3412 S. Harlem Avenue Riverside, IL 60546 · Member since 2015 · 6k+ posts · 5k+ votes
6y
@Victor Kamesar you have plenty of options here on BP. I use a lender with Loan Depot who got me started as an investor and has helped quite a few of my clients as well. I will send a PM with his info.
John I’d like in on that info too for the mortgage broker...please share if possible! I’m currently looking to break away from the larger banks...I know there’s better options out there.
@John Warren Would you be kind enough to send the info to me as well? I'm in the process of scoping out 2-3 flats in the west suburbs (not the hottest spot for these homes - but it's a house hack and has to be close to work!) and would love to check with another lender for comps on rates.
Real Estate Broker · Portland, OR · Member since 2019 · 4k+ posts · 2k+ votes
6y
Talk to a couple of commercial RE brokers with experience in multi-units. They can get you some comm mortgage brokers.
Residential mort brokers are not the same as comm mort brokers!!!
I've had guys (especially when they're looking at 4+ places) give me heartburn when they insist on using their 30-year friend that is a residential mort guy.
Do NOT interpret this as a slam on res mort brokers - It's just a diff business from comm mortgage.
Rental Property Investor · Joliet, IL · Member since 2019 · 17 posts · 13 votes
5y
Awesome thread! There are some very helpful folks here in and around the Chicagoland. We are also looking for great lenders to help grow and scale our rental portfolio. @John Warren thank you for the greats services you provide. I hear a lot of wonderful things coming from you and Second City RE is doing. May I ask you to share the same information? Thank you. I would love to network with some great and knowledgeable lenders