All Forum Posts by: Erin M.

Hi all,

I joined BP in 2019 when I purchased my first 2 unit building, which I owner occupy. Now I'm looking for a mixed-use commercial building or strictly commercial building. I've been searching on Loopnet, Crexi, and various brokerage sites without much luck. I'm looking to get connected with brokers and/or sellers and potentially find some off market deals if possible.

Does anyone have references for broker, lending and/or seller connections to this property type? The location of where I'm looking will focus on the Northside neighborhoods of Chicago (bucktown and wicker park as well) and nearby suburbs.

Thank you all!

Erin

Hi all, 

I joined BP in 2019 when I purchased my first 2 unit building, which I owner occupy.   Now I'm looking for a mixed-use commercial building.  I'm also open to strictly commercial as well.   I've been searching on Loopnet, Crexi, and various brokerage sites without much luck.   I'm looking to get connected with brokers and/or sellers and potentially find some off market deals if possible.

Does anyone have references for broker, lending and/or seller connections to this property type?   The location of where I'm looking will focus on the Northside neighborhoods of Chicago (bucktown and wicker park as well) and nearby suburbs.  

Thank you all! 

Erin

Thank you everyone for your advice!  It's helpful to see what's realistic for areas of Chicago I'm most interested in.

@Brie Schmidt - thanks for those specific numbers, they are very helpful to put those those programs in context for the Chicago market.  

@Jonathan Klemm - I'd like to in stay in Humboldt Park, but I'm not limiting the search and I'm open to a good opportunity in other areas. I'll get in touch to get some info on 10% down lenders, thanks!

@John Warren  - I think we also nick named it Home Impossible back in 2019, it's a very tempting program but you're right, close to impossible in Chicago

Does anyone know if the Home Possible loan program is coming back as an option?    Or can anyone share good experiences with other low down payment programs or lenders? 

I acquired a 2 unit in 2019 in the East Humboldt Park area. When looking for this property, I wanted to utilize the Home Possible Program but wasn’t able to.  Now That I’m looking for my 2nd property, I’m hoping the Home Possible program or another low down payment program is available. 

Thanks!!

@Shawn M Hannan - I used Fixer to move the existing stackable washer / dryer from level 2 to level 1 of my building.   They did a good job.  I unfortunately can not give you any good advice on moving them to another property. 

@Ryan Cotter thank you for your Fixer recommendation!

 I have not heard of that oh, but I just look into it.  I submitted a request, hopefully it is something that they can handle. Thank you very much for the tip! I will be useful in the future. 

Have you used to Fixer before? Are the service people reliable? 

I'm located in Chicago and I'm looking for a local recommendation -- I need to hire someone to move a stackable washer and gas dryer from a 2nd floor unit to a 1st floor unit.  

I've been calling around and have had a hard time finding someone to agree to move a washer and dryer and re-install it. I found one person that quoted me $250, then changed it to $300+ and their number keeps getting higher.  I feel like this person's quote is very high.  

If anyone has any trusted recommendations, please let me know.  Thank you!

@Stephen DiNanno  I'm also interested in Vinyl Plank Flooring for a Chicago rental. 

I'm considering Lifeproof brand (rigid core vinyl plank) from Home Depot, but still need to do more research on other brands.  

@Ann Folan, is there a brand that you have had a good experience with?

I'm looking to save on the installation costs -- has anyone installed these floors DIY?  I have no experience with flooring and I'm going into the project as a complete novice.   I've been watching Youtube videos, and it seems like a task I can could handle.  

Does anyone have advice on DIY installation of vinyl plank flooring?  Is it something a novice can complete?  I'd likely save around $2000 if I install myself.  Plus, I'd like to develop the skill for future projects.   

** If anyone in Chicago has an upcoming project of this nature and would like additional help for the job, I'd be interested to gain experience ** 

@Taylor Chiu  I like your advice about making contacts with wholesellers.  Can you please get me pointed in the direction on how to do this?  It looks like your from Salt Lake City, so I realize that you may not have Chicago-related contacts.  Many thanks! 

@Carmela Hunt,  congrats on your purchase!  I am looking to purchase a 2-4 unit building in/around the Logan Square area in the coming months.   Can I ask you more about your experience?  I saw you said you were turned down over other offers with conventional loans -- how many times did this happen?  After your offer was accepted, how long did it take to close?  Did you have a good experience with your lender?  Thanks!