All Forum Posts by: Elbert D.

I agree with Andrew Holmes he's right MFH are rehab nightmares and the cost to rehab them is often very high. Wanna know why? Well you depends on your unit. If you have 2-4 units well....guess what lol you have 2-4 kitchens to rehab and 2-4 bathrooms to rehab and we know how those two rooms in a house can be. Not only that but more than likely you will have to purchase multiple hot water heaters and furnaces as well during the rehab process. So a rehab on a 3 flat can easily go over 80k. Even if it's not that bad of condition. These costs just add up. I noticed you said you want 7500 a month so your best bet is to stick with MFH because they do cash flow like pigs but things are more likely to break as well especially considering often times at least here in Chicago MFH homes are older. I actually just ran into some problems with a MFH that I sold to an investor and the cost were 70k for rehab of a two unit. That's it to say you can't get to 7500 a month with SFH but the process will be more slow. Also keep in mind if that tenant leaves you will be paying for those expenses until you get another tenant. Real estate really is another job no matter which strategy you choose. It only becomes passive when you have a ton of properties or units that way you can outsource that work to someone else. I also help investors get rentals anywhere in Chicago they want properties. Best of luck to you and if you want more details or advice PM me.

I'm in my mid 20s and Real estate has definitely been a journal. Opened my eyes to a lot of things and just how the world operates In a sense. As I get older I want to get into luxury estates holding and flipping them as well as commercial estates. I don't want to say too much because ideas are just thoughts even if they are powerful they don't mean anything until you execute.

Bachelors computer science from University of Illinois chicago It was a good program. I learned more from Google and YouTube. They are the best teachers in the world. I always had a strong passion for tech but real estate is creeping up and very fast but I will always be in tech in some form. -Learn something everyday-

Having a close connection with a bank

J Scott could you elaborate on that some more?

So your just looking for flips in the northern parts of Chicago? What kind of ROI are you seeking? Are you open to rentals?

Kevin Chen how's it going. Just GO is my model. Your going make mistakes regardless but you can't be scared to make investments. Although you do need to be careful and think twice about your decisions. Moving on to the deals and MLS.....yes deals are going very very fast when they do appear. The areas you mention on the north side honestly wouldn't make you any money(might even lose money) with properties out there. The north side is so well developed overall compared to the west and south side of chicago. There are good neighborhoods spread out across Chicago you just have to know about the areas. I'm

Not telling you not to pay attention to the north side because deals do appear once in awhile. We actually just sold a flip in a good area on the north side. The north side is really good for flips(if you can catch them). Whenever an investor invests with me I try to get them the best possible ROI. My minimum return for a flip is 20% and it's 11-12% for buy and hold rentals. Overall my investors are pleased with the results with offer. We have our own rehab crew, property managers, and a couple of realtors we deal with. You mentioned Indiana. We have deals that pop up in Indiana as well and overall our investors like the state because of the low taxes and overall it's a more investor friendly state compared to Illinois. I don't want to make this post too long so if you want me to elaborate on anymore details I mentioned send me a PM.

Jonathan Davis how's it going. Actually try looking at northwest Indiana. It's very close to chicago as well. We have put investors in houses rather a flip or a rental at 100k that's plus rehab and all other cost. There are some nice houses and areas in northwest Indiana. If you want more info and want me to explain further please send me a PM. Don't hesitate to ask for help.

@Account Closed

How's it going. Well if I were you I'll take a look at both. But what type of investments are you looking for exactly? SFH or MFH? Do you just want buy and holds or open to flips as well? What ROI are you looking for?

My only concern is that your using media stats as your decision maker. Chicago is painted so negatively in the news it's been that way since Obama got in office. I don't remember what city was in the spotlight as the "bad" city before he took office(I think it was Detroit or New Orleans) because I was so young in 2008 but the news media makes up stories and really exaggerates things out of proportion. Now with that being said has Chicago went down a little bit In quality of life? I would say yes but it's not the warzone that's portray in the media. There are some very nice neighborhoods in Chicago. On the west side and the south side for investors to invest. The north side is already very well developed so it's going be harder to find any buy and holds in those neighborhoods(unless you are looking for flips and those are very hard to come by and when they do appear they are gone in a couple of days if not the same day) I could list off some nice neighborhoods in Chicago but if you want me to just send a PM.

There has been a more people leaving over the years but it's because of things like the high taxes so the common thing for some people to do is move to Indiana if they are closer towards the south side and to Wisconsin/Milwaukee if they are towards the west or north side. Sometimes after they move a lot of people STILL come back to Chicago on the weekends to do whatever it is they want to do because the distance between those cities isn't far. Another common thing people that reside in Chicago that want a change of scene is move to places like Houston, Dallas, Atlanta or some city in Florida which is ok as well. Sometimes a change of scenery is what some people need.

Moving on.....that doesn't mean you can't find quality rentals or flip deals in Chicago because they are out there and in decent neighborhoods. Just not as plentiful right now because the market is very tight right now. But that's mostly everywhere from the threads I have read on BP. Usually when an investor wants rentals from us we offer them a minimum of 11-12 cash on cash return(although it could be higher) and for flips a 20% ROI we have our own property managers? Two rehab crews, and a few realtors we work with so there's no worries for our investors no matter the location.

There's deals all over chicago and it's suburbs and things are going very very fast when they do appear. Speaking of Indiana we find deals for investors there as well. North west Indiana is concerned an extension of Chicago suburbs and the taxes are lower and Indiana is in general a more investor friendly state overall compared to Illinois.

So you might want to be open to those other states as well. But again that doesn't make Illinois / Chicago a bad place to invest because some very good deals do come up and I'm sure we could find you a very nice ROI in Illinois or Indiana. Let me know if you want any more details on what I have said. I don't want to make this post too long because it's some more things I could explain in much more details but send me a PM if you want more details about the information I gave.

@LeSean X Thomas do you know where you want to invest? The type of ROI you want? How soon are you trying to buy? What price is good for you after purchase price + rehab cost?

I come across properties in Indiana and Illinois. We have a complete program for international and out of state investors. We have property managers, a few realtors, and two rehab teams we work with. Typically we offer investors 11-12% cash on cash return for returns and atleast 20% ROI for flips. If you would like any help about investing PM me.