All Forum Posts by: Tony Hardy

sometimes your license can be a burden in investing.  For instance you need the listing agent in competing situations to be you ally.  two offers same price or close to the same price. Let's say one is a buyer that he's been working with for quite some time and the other is you wanting to buy the deal and take 50% of the commission. Let's say you get that deal. As an investor you want to close that deal and be the first person in the world that agent calls when he or someone in his office lists a similar deal. Hard to get a Birddog to hunt in that situation. He'll be reluctant to tell you about hot deals where he/she isn't the listing agent will call you after he's been rejected by buyers that aren't after a paycheck when he is the agent. Besides as an investor you make 100 to and agents pennies.  Access to the mls is a positive. Access to off market deals is better. You can get that agent to set you up to get automatic alerts as new listings come available in your strike zone now without a license

nY and souther Cal are two of the toughest markets to purchase for cash flow. It's a ton of competition. We recently sold a 4 unit in neighboring Orange County for 2.4MM. I'd consider investing perhaps in another product type maybe in another market for cash flow. For instance you could by a retail center or single tenant deal like a autozone, or dollar tree in another market make a decent cash flow with very little if any landlord responsibility.

Not a bad looking condo and in a decent location. Have you attended the meetup said at Dinos pizza? You may be able to pitch the deal at the shark tank there other meet ups listed in BP have them also. Have you consider reducing the price? The main reason for lack of activity is often a high price. What are other condos in that building in the market for. What were the last 5 sales in your building. Where those Inestor prices or owner occupied prices? I think you're at 99K saying 90K is a 7 cap. You looking for an investor must be priced with some meat on the bone... Can you reduce it any

I'd recommend taking a look at going to the Chicago Investor Summit this weekend. You may find a lender or a partner.

RSVP

Property is occupied but in need of rehab.  Add value opportunity.

Annualized Operating Data

Income Current

Gross Potential Rent $84,540

Gross Potential Income $84,540

Less: Vacancy/Deductions (GPR) 10.0% / $8,454 10.0%

Effective Gross Income $76,086

Less: Expenses $41,423

Net Operating Income $34,663 $39,813

Net Cash Flow Before Debt Service $34,663

Debt Service $20,010

Debt Coverage Ratio 1.73

Net Cash Flow After Debt Service 14.7% / $14,653

Principal Reduction $6,646 $6,646

Total Return 21.3% / $21,299

4838 South King Drive

Chicago, IL 60615

Price $400,000

Down Payment 25% / $100,000

Number of Units 12

Price/Unit $33,333

Gross Square Feet 8,985

Price/SF $44.52

CAP Rate - Current 8.67%

CAP Rate- Pro Forma 9.95%

GRM - Current 4.73

GRM- Pro Forma 4.33

Year Built 1908

Lot Size 4,860 Square Feet

Type of Ownership Fee Simple

Location

Financing

Expenses

Real Estate Taxes $5,430

Insurance $6,990

Gas $6,091

Water $4,661

Electric $684

Scavenger $1,663

Janitor $3,600

Management Fee $3,804

Repairs & Maintenance $1,800

Cleaning & Decorating $1,800

Supplies $1,200

Miscellenaous & Reserves $3,000

Landscaping & Pest Control $700

Total Expenses $41,423 $

Expenses/unit $3,452

Expenses/SF $4.61 $4.82

% of EGI 54.44% 52.12%

Scheduled Income

Loan information is time sensitive and subject to

change. Contact your local Marcus & Millichap

Capital Corporation representative.

6

PRICING AND FINANCIAL ANALYSIS

4838 South King Drive

CHICAGO, IL

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to

the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any

inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services of Chicago, Inc. © 2015 Marcus &

Millichap. All rights reserved.

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Need a loan? Need off market deals? Need a Joint Venture Partner? Got deals? Present it at our Shark Tank!!

Come network with 150 investors, deal makers, private money lenders and real estate industry leaders... Our expert panel will give advice on buy and hold and fix and flip strategies and opportunities featuring:

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Discussion of Topics and handouts that effect property owners and landlords include: Business, personal and investor funding options. Lines of credit for business and personal and investor funding options for real estate purchases. Learn how to properly analyze deals to add value. Find out the major items to look for during your initial walkthrough. Get our insight on the next ''hot'' areas that you should be investing in right now & the top red hot areas to find single family and 2 - 4 unit Opportunities! , Residential Landlord and Tenant Ordinance (RLTO)

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Nathan Waters unfortunately I haven't done any deals in Park Forrest.

Victor Olowu I specialize in multi family investments on the south side of Chicago. you're going to move in as owner occupant the most walkable location would probably be Hyde park and north east WOODLAWN. Also occupancy levels are high and you get the highest year over year rent growth. Other areas to consider would be North Kenwood and the Gap. There are parts of other areas that are okay however, as you know investing on the south side can be tricky as cap rates and other investments indicators can change in a block by block basis.

Hi thanks for all of you that signed up for the Chicago Multi family Summit. There are no more $5 tickets left however, there are some $10 tickets available.