Real Estate Broker Recommendation for Investment Properties

6 Replies

I'm looking for a real estate broker who can help me find investment properties in the Naperville area that can cashflow. Normal MLS focused realtors that I've met and started to use, don't seem to have the same mindset needed to understand landlording and what can cashflow. I'm hoping someone here could recommend a broker who understands what can cashflow in the Naperville area. I'm looking for mainly single family homes or Condo's. I don't think I'm ready for Multi-unit buildings yet. Any help would be appreciated. Thanks.

@Joe Hermanson send me your variable expenses metrics your going to use for calculation and purchase price capabilities and I will send you what suits your needs. 

Naperville is always tough to find profitable buy/holds! Taxes, HOAs and competition with owner occupants really throws off the numbers. 

Are you open to investing in Aurora, Joliet, or Elgin? 

Thanks for the shout out @Zack Karp !  

@Joe Hermanson its definitely possible to find properties in Naperville that have a good balance of appreciation and cash flow - it all depends on your expectations. For example, I recently worked with an investor to purchase a 2bd/2ba condo that hit the 1% rule ($160,000 purchase & $1600/mo rent) in a nice part of Naperville. Although this was only about a 7% CAP and 6% CoC it was still a good choice for an investor that didnt want to be semi passive and mitigate potential large CapEx expenses though buying into an HOA.

Jake, that is what I'm seeing, a lot of 1% possibilities.  I was hoping for closer to 2% with finding an off market property/preforeclosure/shortsale property that needs some work that I could fix up and charge market rent.  I'd like to cashflow around $300/month on a property to make it worth the effort.  So I guess I may need to start direct mailing people or look for a wholesaler who has an opportunity.  

@Joe Hermanson I am a Realtor and investor and I would love to earn your business, but to cashflow $300/month you would need to look in different areas. I have investors who do pull that kind of cashflow, just not in Naperville. As @Michael Smoczynski said taxes/HOA fees blow up the numbers.

@Joe Hermanson

About how much in Maint, cap ex etc (variable costs) are you looking to spend/save a month to get the $300 cash flow? 

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