While the news likes to focus on the negatives, we see the opportunity. There is so much opportunity that USA Today had to write a report on it. Its no surprise though, if you were going to seinars and events back in 2008, 2009, you heard everyone saying this would happen, and guess what, IT IS!
Six Unit Condo Building in South Shore needs a full gut rehab! Fortunately, each unit is 3 bed 2 baths and already individually pinned. The property has good bones and can be a pet project for investors. Cash buyers only, serious inquiries only. What other wholesale you know goes IN and does all this work for YOU?! nobody!
We have had some rough experiences with many wholesalers in the last few months. Too many are missing the mark when it comes to pricing and actual KNOWLEDGE of our city. We receive emails everyday, or almost, about new deals throughout the city. Many of the properties we see are NOT wholesale deals!! The frustration from both our team and our cash buyers have led us to make this quick blog about what wholesalers need to know regarding this business, in this market.
The price drop on properties along with the foreclosure inventory are making this the perfect storm for real estate investors new and old. If the rumors are true and there are another few hundred thousand homes YET to be released as REO’s by the banks, then there is still time to get in the game while its near rock bottom! It is going to take investors for this thing to move forward and those who do will earn great wealth.
Wholesale Investment Property – Chicago – Burnside Chicago SFR 1000 Square Feet Taxes: $2,800 Section 8 Rent: (3 bed) $1,000 Est. Cash Flow: $600 9200 S. Woodlawn Asking: $17,000
Huge Brick 2 Flat in Chicago’s South Shore, right off South Lake Shore Drive. This 3700 square foot property sits on the corner, steps for Rainbow Beach Park on Lake Michigan. We estimated repairs at 85K, mostly water damage from leaks in the roof. ARV looks to be in the mid to low 200s. This is a very unique property, you WONT find it anywhere else but at ChicagoCashFlowProperties.com!
Chicago Investment Property – Single family Home – 60619
Chicago Investment Property – West Garfield Brick 4 Unit
Chicago Wholesale Property – Calument Heights – Single Family Home
Tips on Investing in Chicago Real Estate
Are you looking for wholesale deals in Chicago? With so many neighbhorhoods and areas to choose from, I know it can get quite tricky. For any investor looking to purchase real estate in Chicago, the first thing they should know is Chicagos vast layout. There is a little bit of something for everyone here in Chicago. I have made general summaries for each side the city has. Each side has its own neighbhorhoods. The south side for example consists of areas like Hyde Park, Chattam, Burnside, South Chicago, Chicago heights, etc.. Hopefully these short descriptions will give you an idea for what to look for and where to start. For investors looking to stay in the north side of chicago, I have broken it down for you.
