All Forum Posts by: Florina Villarde

Hi there,

We are selling a property in one of the Chi suburbs, where the village requires an inspection. The inspection failed due to electric panels needing to  be updated. 

Does anyone know if we would be able to move forward and offer closing credit, or if we would need the village inspection to pass, in order to move forward with the closing.

Thanks! 

@Samuel Sedore, thank you for your input. We will also be asking the bank for their best price, hopefully we hear back from then. 

@Sarah Ziehr: thank you for your input, we will be making our best offer along with our calculations and will see what happens.

@Gino Barbaro, we were off by about 30k. Thank you for your suggestion. We are monitoring it and plan to make an offer again in the near future. At that time we can present the calculations to the bank.

@Crystal Smith, thank you much for your input. That's correct, it is for investment purposes and not to live in it.

We started doing the same: Monitoring while still looking at other properties. We're not in a rush; so hopefully we will be able to place another offer.

Thank you all for responding:

@George P.: you are correct, "like" was the right word to be used. The property has many plusses from an investor standpoint.  

@Wayne Brooks: thank you. Your response makes sense and it's what we also thought we should do. We will offer our best number and walk if no response.

Hello,

I wanted to ask for everyone's input in this situation: we made an offer on a bank-owned property and it was rejected. The offer wasn't super low and the property has been on the market for a while. Our thought was that if the bank believes the offer is low, they will counter-offer. The rejection was totally unexpected. We really like this property, but unsure how to proceed in this case. Should we submit another offer with our final number? should we walk? If anyone would offer their expertise in this case, it would be greatly appreciated.

Thank you kindly.

Florina

@Al Canaveral, Thank you so much! We have been looking in the west suburbs area (Addison). However, there seem to be good opportunities in the South suburbs as well (researching the area): Summit, Oak Lawn, Chicago Ridge etc.

Hi,

My fiancé and I are starting out and want to invest in a second property. The first property was my condo, which was rented and bringing a positive cash flow.

We decided to purchase an additional property and have been looking mainly at multi-family, 2 or 3 flat units. However, we have found a townhome that sparked our interest and after running the numbers, this also appears to be positive.

Do any of you have any advice about investing in town homes as opposed to a single family or condo? I believe that because we had our minds so set on the multi-family; going for the town home doesn't appear to be as appealing.

Thank you.

Florina

Thank you!!