All Forum Posts by: Elbert D.

Chicago North side, and the northern suburbs have very good fix and flip areas that are easily 500k-2mil depending on the sqft and the area of course.  The trick is being able to find them because they go extremely fast. 

Actually some houses in the west suburbs and south suburbs are 500k or more as well but those are huge SFHs that are close to 3,000-4,000 sqft. I would love to flip one of those houses to get the Experience of going through a very high end rehab. One where I wasn't wholesaling it but flipping it myself.

I think one thing some new flippers don't pay attention to is the DOM(Days on market) on average a property sits in that area. A good metric is about 60 days or less and hopefully doing those type of rehabs everything is extremely high end including the landscaping and little details are perfect so that it is sold fast. 

@Lumi Ispas very good points, some of what I was going say you said lol. 

I also want to add that just thinking about it.....starting next month until early Jan is the holiday season....no one really thinks about real estate during those months. Its actually funny since the prices drop down a little during those months. But in summary, to reiterate there is always opportunity, its just getting harder to come by right now. Keep looking and exhaust all options you have.

I haven't entered the Milwaukee market.....yet.....I'm still working on forming a team there. Anyway it's no different in Indiana than Illinois for flipping. The high end areas are usually the flipping ones. Places like Dyer, scherville, Munster, Lowell,  some parts of crown point, some of Merriville, some of cedar lake. Those are the only areas I know and or have been to and seen. I been to Indianapolis but I don't remember exactly if that was a buy and hold area or flipping one. I would think it's both. @Demetrius Davis 

But as of now Indiana is just as dry as Illinois as far as finding good deals. So I guess you shouldn't be sad lol it's dry everywhere. 

I personally think there are very few opportunities to flip right now. The current market right now cause many people to not buy because as you stated everything cost so much. 

It's actually funny as I look for properties to either wholesale and or fix and flip and I see a REO or a seller wanting close to a 100k or more for a house that needs between 60-90k in rehab lol...although I'm very aggressive I haven't had good luck getting the price down good enough where the numbers would make sense for a potential deal. There are still opportunities out there. They are just much much harder to find. I tend to think in abundance, so I know that if a seller or bank is asking for too much money I know that it will sit. But overall inventory is extremely low right now. But I hope many people don't get into real estate thinking there is always a streak of nice deals every year. It's a reason why it's one of the riskier industries to enter.

When houses are dirt cheap again and the market is down everyone will try getting into real estate......I don't think think its over but many people are going try to wholesale or flip when prices are low again. Have you thought about flipping in Indiana or  Milwaukee?

@Kyle Weckman 

how's it going. Just a heads up be careful of some wholesalers rehab and ARV cost. Anyway.....the market is very very tight. Anybody that says they can find you stuff very easy is lying to you. Or they are about to throw you a POS. Its not that many good deals out right now in Chicago. It's many properties that have too high of a price and that's with negotiating to get a better price. The deals are still there. Just very rare. Also check the crime stats and taxes of everything you do DD on.

entrepreneur website had a article about branding. They actually have a lot of pretty good things about business and real estate as well.

Entreprenur Branding

Yup.....Chicago politics as usual smh....it's good you have been talking to people and know how to get around it. 

Yes, Chicago has a plethora of decent to good neighborhoods....

The demand on the south side can be lower in certain parts. Your right. But you can say the same for the west side. It's bad areas here and there on all sides. Minus the north side. The north side is good for flipping IMO, not good for cash flowing rentals. I honestly think the south side has more overall building potential because the north side is so well developed. The west side has a few good decent parts. The opportunity is on the south side!.....yea sure i can send you a PM