All Forum Posts by: Lakshmi Nikitha Duggirala

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Chicago.

Purchase price: $600,000
Cash invested: $27,000

HOUSE-HACK / OWNER-OCCUPIED!

This is a multi-unit building with two 2 bed, 1 bath units (1st floor and basement) and one 4 bed, 2 bath duplex (2nd floor and attic). I am currently renting out the duplex and the 2 bed, 1 bath on the first floor. The building was recently rennovated (finished a few months ago). Every floor has new appliances, granite countertops, new cabinets and in-unit laundry. There is an extra-wide lot in the back in which 3 - 4 cars can be parked.

Hi, I am looking for a tax planner that can take a look at my legal entity structure and help me strike a balance between reducing my tax liability without knocking down my my leverage.

Hi, I own 3 multi-unit buildings in Chicago and looking to convert a couple units as short-term rentals. 
1. Irving/Albany Park: 2 bed, 1 bath unit

2. Avondale: 4 bed, 2 bath duplex unit

3. Brighton Park: 2 bed, 1 bath unit

The first two are close to Ohare and have potential as short-term rentals. The third is close to Midway and is better suited for mid-term for traveling nurses or corporate housing.

If you are interested in arranging a rental arbitrage agreement or partnership, please reach out to me. 
  

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $50,000
Cash invested: $154,000
Sale price: $239,700

Partner deal, 50/50 split of profit. First flip I purchased, used a hard money loan to finance 100% of rennovation cost and 80% of down-payment. SFR in the Southside of Chicago, gut rehabbed into a 5 bed, 2 bath and sold within a 7-month timeframe. The first offer came in above listing price but the buyer did not get lender approval. The second offer dropped out a week after inspection (even though there were no issues). 3rd offer ultimately closed with a $7k seller credit.

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $50,000
Cash invested: $154,000
Sale price: $239,700

Partner deal, 50/50 split of profit. First flip I purchased, used a hard money loan to finance 100% of rennovation cost and 80% of down-payment. SFR in the Southside of Chicago, gut rehabbed into a 5 bed, 2 bath and sold within a 7-month timeframe. The first offer came in above our listing price, however, the buyer did not get lender approval. The second offer was around listing price but they dropped out a week after inspection (even though there were no issues). 3rd offer ultimately closed with a $7k seller credit.

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $50,000
Cash invested: $154,000
Sale price: $239,700

SFR in the Southside of Chicago, gut rehabbed into a 5 bed, 2 bath and sold within a 7-month timeframe

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $50,000
Cash invested: $154,000
Sale price: $239,700

SFR in the Southside of Chicago, gut rehabbed into a 5 bed, 2 bath and sold within a 7-month timeframe. Used hard money.

@Art Perkitny Thank you for that data! The property I was interested in was rented out to participants of the Chicago Housing Authority (CHA) program. That means the government is paying for a majority of their rent, so it is guaranteed cash flow coming in monthly. There is also a huge waitlist to get into the CHA program so I'd assume participants wouldn't jeopardize getting kicked out of the program by destroying the property either. 

Are there any Chicago investors that have invested in that area or considered it and passed? 

Hi everyone, I wanted to ask investors what they think of East Garfield in terms of safety, appreciation, tenant quality and overall outlook as a neighborhood to invest in. 

I found a property that cashflows $1,500+ in East Garfield but the safety of the neighborhood concerned me. But this is an EXECLLENT DEAL that I regret passing on, so I wanted to get people's thoughts on what they think of investing there. 

Has anyone invested here for 2-4 unit multi-family buildings? 

@Andrew Postell I see, thank you for that clarification.