Buy and Hold Investors in DuPage and Kane County, IL

[Josh Halagiere]

Hello! I'm a fairly new wholesaler and just recently got my first deal completed and under my belt in August! Woohoo!  I've been sending direct mail (yellow postcards) to absentee owners in DuPage and Kane County, over the last 5-6 months and I've been averaging a 1.2% - 1.5% response rate, which I understand to be pretty decent.  

However, the majority of the responses are for properties that are owned as rentals and in most cases occupied with a lease still remaining. Initially, I thought this was the perfect scenario for a buy and hold investor - acquire a property that is already rented and cashflowing, no brainer, but this hasn't been the case. So now I'm trying to determine what is the criteria for buy and hold investors in this area? I feel that I am adequately competent at analyzing properties for a wholesale deal that results in a rehab flip but much less competent at understanding how to properly analyze deals that are more suited for the buy and hold investor. I understand how to calculate, NOI, CAP rate, CoC, etc., but I'm honestly not sure what those figures and calculations should be, for buy and hold investors who are looking to invest in the Chicago suburbs, specifically DuPage and Kane counties, but I'd love to know!

I have leads on several properties that I think buy and hold investors would be interested in but I'm reluctant to make an offer without knowing whether it's a good deal and something this type of investor would be interested in.

So what is it, exactly, that these types of investors in this area are looking for??

I appreciate any feedback and I'd love the opportunity to meet or talk with any local investors on this topic.

Thanks,

Josh