All Forum Posts by: John Weidner

depends if its owner occupied, investor, cash, FHA. conventional etc. When you submit the offer online (Through IL Licensed RE Agent) it will say minimum requirements.

@Lee Badragan 

Welcome.  I'm just north of you in Edison Park 

@Matt Gehrls says on your profile you are a "Leasing Agent" in West Town

If so why are you on here asking this question?

What is the acquisition price? 

Lipstick are my preference but they hardly exist anymore in the areas I farm  to turn the profit I require. Many homes in this category are being sold to owner occupied that renovate themselves.  

Might exist in S and W Suburbs as the housing stock is newer

where in Chicago? specific neighborhood?  flat or shingles?

MLS and FSBO's Ive had no luck with wholesalers in the areas I target

 plenty of opportunity on the S and SW sides.  Start getting to know your farm and hook up with a mortgage broker to see what you qualify for.  

$20k as in all-in $20K or $20K down payment?

You can make money flipping condos actually they can be easier to identify due to easier to comp.    

@Mark McQuiston 

Owner occupied?  

Maybe go in less down and refi later.  

@Brie Schmidt 

Is right on reserves.  They also may make you reserve taxes as well 6-12mos in advance