Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Illinois > Chicago Suburbs
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 04-03-2008, 07:31 AM
 
Location: Hoosierville
17,377 posts, read 14,622,936 times
Reputation: 11591

Advertisements

To get a property to cashflow in this area, you're going to be needing to put down at least 20%.

In fact, with the tighter lending standards, I think you'd be hard pressed to find any institution willing to lend to you for an investment property for less than 20% down.

Just an FYI.
Reply With Quote Quick reply to this message

 
Old 04-03-2008, 09:42 AM
 
624 posts, read 1,071,652 times
Reputation: 203
Quote:
Originally Posted by irish setter girl View Post
...They just keep circulating people in and out of their homes and they actually make some good money doing it. You might consider doing something like this (on a much smaller scale) where you own homes and allow people to use them as a spring board after foreclosure.
Is this a chicagoland based company? I'd like to know more if that's OK.

Also, how can I find full time rehabbers in my area?
Reply With Quote Quick reply to this message
 
Old 04-04-2008, 06:50 AM
 
409 posts, read 1,517,484 times
Reputation: 49
I am not sure if it is within 20 miles, but West Evanston has a lot of plans for it and there are a lot of rehabbers rehabing homes there. They could be purchased for around $200,000 to $250,000 and flipped for close to $400,000. Skokie is also a good rehab market because new places are always above $900,000 and most cannot afford that. You can buy for around $240,000 and flip for close to $400,000 or $425,000. Lincolnwood is very nice, but it would be hard to find a flip for under $450,000 to begin with.
Reply With Quote Quick reply to this message
 
Old 04-04-2008, 07:57 AM
 
Location: Hoosierville
17,377 posts, read 14,622,936 times
Reputation: 11591
Quote:
Originally Posted by BigV View Post

Also, how can I find full time rehabbers in my area?
Join a real estate investment club in your area. You'll have the opportunity to network and learn from the pros.
Reply With Quote Quick reply to this message
 
Old 10-01-2008, 08:12 AM
 
2 posts, read 3,609 times
Reputation: 11
Default re

Quote:
Originally Posted by irish setter girl View Post
About 10 years ago we did condo conversions and rehabs in the city and in Cicero. I would NEVER do another project in Cicero and if you go into the city make sure you have a security fence and guard. We were in a decent neighborhood (condos in the 300-450k range) and still had issues. I can't tell you how many new appliances were stolen& vintage mantels pulled from the plaster in the middle of the night. Our security guards never slept on the job, they were actually kept pretty busy

How do I get into rehabbing houses
Reply With Quote Quick reply to this message
 
Old 10-01-2008, 09:28 AM
 
1,156 posts, read 3,749,542 times
Reputation: 488
When I was driving around Brookfield recently I got the impression there was a chunk of rehabbing going on. Really good schools too.
Reply With Quote Quick reply to this message
 
Old 10-04-2008, 10:37 AM
 
2 posts, read 3,609 times
Reputation: 11
How do i get into rehabbing houses
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Illinois > Chicago Suburbs
Similar Threads

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top