All Forum Posts by: Eudith Vacio

Hey 👋🏼 @Ahmed Eid - I think most investors I know are looking for medium term rentals in these areas to try and get traveling nurses, and with that you can most likely have high levels of cash flow. What are you looking to do? :)

Hey 👋🏼 @Imran Mohammed, based on your criteria, would you be open to a FHA 203k loan? I have used this loan product in the past, and have helped clients acquire rehabs using this strategy and it sounds like it might fit your situation if you want to live & rehab.

Hey @Ghazi Shehayber wherein the Chicagoland area are you located?

and what specifically are you looking to get into? I trust that you will be able to find someone to meet with you depending on what your specific goals are!

Wow, @Alex Fenske - you provided some fantastic data here that surely will help some investors become more informed in their decision making!

It's definitely getting more difficult to find deals due to low inventory but if the deal can cashflow and you can make it work by adding some value to the property like @Jonathan Klemm mentioned using an FHA 203k loan. I am a huge fan of that loan product and I wish more people knew about it. I think that mortgage interest rates rising might make it more beneficial for investors as more people get discouraged or get priced out of purchasing real estate.

hey @Matthew Bernal 👋🏼

woooowww, super impressive! 
was this your first flip deal? which contractors did you use? that’s so freaking amazing 🤩 

Congratulations on purchasing a 3-unit property, I agree with everyone else. I definitely would recommend an umbrella insurance policy especially if you reside in the building. maybe once you move out and have it fully rented would I consider transferring it to an LLC :)

Hey Antonio, where is the deal located? You can post here in BiggerPockets or have a RE agent help you post in the MLS to get it sold quickly.

haha wouldn't that be an amazing way to get some of the benefits? @Boston Caruthers

I think you might have to be a full-time professional to get the benefits, too. But I do like @Chris McCormack recommendation LOL marry one of us :) 

Hey @Declan McManus - wow, I like how you have fully committed yourself to growth by aggressively saving your money. Similar to @Paul De Luca, I am a realtor and investor that has house hacked and rehabbed a few properties. I work with loan officers that can qualify you for the right deal when the time is right for you. I always advise speaking to a few lenders to get a better understanding of the different options they have for you, but at the end of the day, it will be who you trust. 

Chicago is an incredible market to get started in if you want cashflow, appreciation, and future equity. I would definitely be careful with vetting your tenants because its a tenant friendly state BUT even then, always prepare for the worst case scenario and connect yourself with attorneys that can help you if you ever go through an eviction. 

Chicago is 30% down in inventory from last year AND we were already down in the number of new listings since the pandemic. It's tough because the number of new listings is down which is keeping prices up right now. I don't think we will ever go down to the 3% level but definitely should stabilize sometime in the next 6 months hopefully. 

I hope this information if helpful to you :)

Hey @Mark Nguyen, our listings are kind of tight, we're down 30% in the Chicago market and that price point might prove to be difficult if you're buyer is looking for a turnkey property unless they like the south side of chicago :) I'm a fan of the south side but definitely would be interested in hearing more about your buyers criteria.