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Updated over 6 years ago, 09/16/2018

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20
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1
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Nathaniel M Cooper
  • Chicago, IL
1
Votes |
20
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What kind of property is this?

Nathaniel M Cooper
  • Chicago, IL
Posted

Newbie wholesaler in Chicago taking action here and so far hitting my stride. So as I search for distressed properties to wholesale, I keep running into these properties that are 2 unit, 2 Story, Georgian style homes that look like Condos. The thing is these don't have HOA's and each unit has an owner and its own parcel number. I'm not sure how to approach these as a wholesaler. If I were to acquire a contract from the owner, how would I market it? What would be my ideal end buyer, and what would I comp it against? Any one with experience in South Side Chicago wholesaling would be helpful.

For information sake these properties/units are vacant and extremely distressed. 

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23,418
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13,508
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
13,508
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23,418
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
Replied

Common in most places, side by side with a common wall, each owns the land underneath......referred to as townhouses, 1/2 duplexes, row houses, etc. depending on location.  I’m guessing Chicago has their own name for them.

User Stats

20
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1
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Nathaniel M Cooper
  • Chicago, IL
1
Votes |
20
Posts
Nathaniel M Cooper
  • Chicago, IL
Replied
Originally posted by @Wayne Brooks:

Common in most places, side by side with a common wall, each owns the land underneath......referred to as townhouses, 1/2 duplexes, row houses, etc. depending on location.  I’m guessing Chicago has their own name for them.

 That sounds about right. Is there a way I can put pictures on here for example? Maybe links? Not sure if thats ok.

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Account Closed
  • Chicago, IL
29
Votes |
88
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Account Closed
  • Chicago, IL
Replied

Hey Nathaniel,

Congratulations for starting in real estate. 

What areas on the south side are you targeting ?
I am a local investor from Chicago and looking for small multi unit buildings on South east side. 

(60608, 60623, 60632, 60609, 60629)


I don't have the answer to your question but I can connect you with some other active wholesalers on south side who can help you. Let's connect !