Chicago Section 8 Investment
Investment Info:
Small multi-family (2-4 units) buy & hold investment in Chicago.
Purchase price: $40,000
Cash invested: $65,000
Duplex, complete remodel, Section 8
What made you interested in investing in this type of deal?
Friend's who have invested in the same area.
How did you find this deal and how did you negotiate it?
Property Management Company recommended the exact property.
How did you finance this deal?
Cash
How did you add value to the deal?
Remodel and Rented
What was the outcome?
Property Management company did not do a good job. Property has appreciated 200% in 3 years. Cash flow has been good but not consitant because of poor property managers.
Lessons learned? Challenges?
Most important lesson is to really find the best property management company.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Not at the Moment. The property is up for sale, and will recommend the Agent after the sale if they get it sold and are professional.