All Forum Posts by: Karen Elizabeth Virgilio

 Thanks for the tip, John! I will be sure to look at each serious property through that site. I have been utilizing cookcountytreasurer.com to verify all the tax information so far, including exemptions and if it's been paid for the year or not. But the more resources the better. 

Thanks all for the responses and excellent feedback! 

@Mark Ainley I'll definitely check out the podcast. I've been listening to a few of them recently, so thanks for sharing that one. 

@Joe Martella great feedback, I will take that as something to consider when offering on properties, but not something that will make or break the deal. Sound like it's just to risky to rely on a reduction in taxes. 

Edit: I'm doing this on the mobile site and can't figure out how to actually tag someone. Sorry if this didn't tag correctly!

Hi all!

My wife and I are just starting out with our real estate investment venture, looking to purchase our first 2-3 unit in Chicago. We have found several properties over the past few months that fit our criteria pretty well initially, and then are sunken with very high taxes. In the 8-10k range.

We are not looking for the highest cash flow we can get, especially to start, but these places that would work otherwise are then passed on due to the high taxes. So, moving forward, I am curious of the likely hood that we would be able to appeal the property taxes if we were to purchase one of these. Is this a strategy we could use to go after listings with high property taxes that most people will avoid? Or is that too much of a risk to take not knowing what we could do about the taxes?

Again, we are currently looking at properties in Chicago, mainly North / Northwest side where taxes aren't generally that high.

Thanks for any input!