Updated over 7 years ago on . Most recent reply
3730 North Marshfield
Investment Info:
Small multi-family (2-4 units) buy & hold investment in Chicago.
Purchase price: $850,000
Cash invested: $250,000
This is a three unit investment property in the Lakeview neighborhood.
What made you interested in investing in this type of deal?
Long term income, tax advantages, and hopefully appreciation
How did you find this deal and how did you negotiate it?
With my agent
How did you finance this deal?
Traditional 30 year loan
How did you add value to the deal?
Renovation of the existing vacant units
What was the outcome?
Higher rent and higher quality tenants
Lessons learned? Challenges?
Don't try to get new leases done in November or December in Chicago, very little activity
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Yes I used an agent from Sothebys