Using various sources of online marketing attracted many interested prospects. 

Out curiosity, where are my fellow Chicagoland investors sourcing deals? 

Hey Dave, lots of investors build their buyers list by tracking activity from local public records especially recent cash purchases, LLC transfers, and repeat buyers in the county.It helps you identify who’s actually buying right now instead of collecting random emails.If you ever want to talk through ways to source or organize that data efficiently, happy to share what I’ve seen work well for others.

The property serves the energy workforce market in the area.Property overview• 18 furnished units + manager residence• Built in 2017• Located in Pecos, TX• Workforce housing model (weekly/monthly rentals)• Stabilized operationsFinancials• Purchase price: $800,000• Recent third-party appraisal: $1,200,000• Trailing normalized NOI: ~$100,000• Annual revenue: ~$268,000So from a leverage standpoint, the deal is actually fairly conservative if viewed against value.Loan requestWe’ve been seeking:• Senior bridge loan: ~$520,000• 65% LTV of purchase price• Interest-only• 12–24 month term• Exit: refinance into long-term DSCR loan once stabilized furtherSeller structureSeller is flexible and willing to carry the remainder.Proposed structure:• Senior loan: $520K• Seller carry: $280K fully subordinatedSeller note terms could be:• principal-only monthly payment ($1,200–$1,500)• balloon at refinanceSo the deal itself works operationally.Where things get difficultWhat I’ve encountered talking to lenders:1️⃣ Most bridge lenders want borrower cash in the dealEven with seller carry, they want "skin in the game."2️⃣ Many lenders underwrite strictly off purchase price, not appraised value.3️⃣ Origination fees are extremely highTypical quotes I've received:• 12–14% interest• 5–6 points origination• 12-month term4️⃣ Some lenders require reserves ($100K+), which defeats the purpose of the structure.5️⃣ DSCR lenders generally say:“Come back after seasoning or after you own the asset.”The real gapThe deal works if the capital stack is:Senior loan: $520KSeller carry: $280KBut lenders are effectively asking for an additional $50K–$100K borrower cash injection, which is the piece I’m trying to solve.So my question to experienced investors:Where do people typically source that “gap” capital in deals like this?

Right now I’m actively: Sourcing off-market dealsBuilding strong cash-buyer relationshipsLearning from people who are actually closing deals, not just talking about it  My goal this year is simple: lock in consistent deals and build long-term wealth through real estate. 

Referrals from other STR operators in your area are the best source, hands down.

@Andrew Sarre Quick question.When you're setting up or turning over rental units in Philly, where do you usually source mattresses?

A Google search of the Zillow Screening process shows similar experiences reported by others.So if you are planning on relying solely on Zillow Screening, realize that there are some serious gaps / limitations in doing so. 

Because of that, I’m specifically trying to avoid full retail MLS pricing and learn how people in this market are sourcing off-market or true wholesale deals.A bit about what I’m looking for:Property type: 2–4 units, or SFH w/ ADU potentialStrategy: Owner-occupied house hackCondition: Open to light value-add (cosmetic, operational)Deal preference: Off-market, pocket listings, direct-to-seller, or wholesaler relationshipsTimeline: Buying in the next few months (relocating end of April)I’ve noticed that many MLS listings in Miami are priced for retail buyers, not investors, and I’m trying to understand:Where are people actually finding good duplex–quad deals here?

If the property is held in a revocable trust where you and your husband are the sole trustees, most conventional lenders are comfortable with that structure, especially since your husband’s W2 income makes qualifying straightforward and allows you to secure strong rates.Using a conventional cash-out refinance in your situation is actually a very common approach when borrowers can qualify easily.