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5 Must Know Tips When Investing In Chicago Real Estate! (w/video)

We have worked with Chicago’s top real estate investors, realtors, and wholesalers in the last few years. We have seen people come and go as you could expect in such a unstable market. Fortunately, we have seen what has made other successful and other investors fail. Whether you are a wholesaler or investor looking to get into the Chicago market, there are rules that will help you get started in the right direction which we will share exclusively with you. Below we have complied five tips that can help you tame the beast that is Chicago real estate investing!

Chicago Real Estate Investing: The South Side

So you’re looking to invest in Chicago’s South and/or South West Side, eh? As a wholesaler, the south side is a typical place to start looking for deals, as many investors are currently buying out the foreclosures. Now before we continue let’s set up some parameters for when I say, “South Side”. I am specifically speaking of neighborhoods south of 55th, east of the Dan Ryan and Highway 57, west of the Skyway, and stopping before Calumet City

The Two Types of Motivated Sellers All Wholesalers Should Find

When wholesaling real estate, you must know who you’re targeting. While it is obvious that you must always be targeting sellers and buyers, what most guru’s do not stress is what type of buyers or specific sellers. If you think that you can put up a few advertisements alongside the road and in the grocery store and get a 20K deal, you’re wasting your time. Having a schedule for sending mail pieces and posting advertisements is critical to your success. You should have a laser-like focus on finding motivated sellers. The following are just two specific groups of sellers you should market too; in fact, these are the only ones you should market to for great deals.

Five Things to Know When Putting Together a Wholesale Deal

Five Things to Know When Putting Together a Wholesale Deal

When you start your wholesaling business, or whatever real estate niche you are in, having buyers wll be your blood line. In theory, wholesaling is quick, easy, and full of dancing care bears in the clouds, but in reality, if you are working solo and just got a course, there are a few things you need to know. Wholesaling is fun and rewarding, but take time to do your homework and sharpen your sales skills. If you have not experienced a seller or buyer walking away from a deal, or having attorneys belittle you, just wait because it will happen eventually. The following are just some small tips you should print out and put in a binder with your course.

Five Tips to Know When Presenting a Contract for a Wholesale Deal

Wholesaling Real Estate: Five tips on putting a wholesale deal under contract.

* Be aware of who will be looking at the contract. In general there should be 2 parties, the seller and the attorney. If they want to involve another party such as a realtor who is a friend, make sure you get their contact information before hand so you can establish rapport and answer any questions they may have directly. If the attorney is not familiar with real estate transactions, or wholesaling, just explain that it is all standard and that you will close quickly. Also note that if the contract will be seen by a realtor, having a $10 dollar deposit might not be enough and they will try to kill the deal (and get the business for themselves), which is why you want to speak with them before they see anything. As a wholesaler, it is very important that all parties who influence the seller are on the same page.

How to find Wholesale Deals in Any Market – Especially Chicago

If you’re looking to get started in real estate investing, it is obvious that wholesaling will be the quickest, fastest way to learn and make money. Many people do not know where to begin in order to find property to wholesale, which is perfectly fine. Wherever you live, it does not matter where, you will always have properties you can wholesale. The trick is having the right marketing in place to help you while you get started.

South Side Chicago Wholesale Deal:PRICE REDUCED TO 42.9K HUGE PROFIT POTENTIAL! 4 Bed 2 Bath!

South Side Chicago Wholesale Deal: INVESTOR DREAM, Brick 2 Flat, 4 Bed 2 Bath! Est. Profit: 100K

**************NOT AN REO!*****************

[src:’http://www.youtube.com/v/dKeCQMqdTOE’,width:’425′,height:’350′]

Wow, what an incredible deal! This is a true Wholesale Property that is guaranteed to CASH FLOW! Each unit will rent for $800

The building repairs are estimated at 15K, which is mostly cosmetic.

The Breakdown:

Asking: 42.9K

Repairs: 13-16K

ARV: 175K+

Rent: $1,600

Potential Yearly Income: 19K+