Beautiful corner studio in the heart of Chicago

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Beautiful corner studio in the heart of Chicago

Na Le
Realtor · chicago, IL · Member since 2022 · 13 posts · 8 votes

Investment Info:

Condo buy & hold investment.

Purchase price: $155,000
Cash invested: $49,000

Gorgeous corner unit in the heart of Chicago.

What made you interested in investing in this type of deal?

I invested in my home

How did you find this deal and how did you negotiate it?

I found the unit myself and did my own negotiating.

How did you finance this deal?

Mortgage

Lessons learned? Challenges?

Living in my own property and working on the little day to days. Not get overwhelmed.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Lender and attorney

2Reply
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  • Eudith VacioPro Member
    Real Estate Agent · Chicago & NWI · Member since 2015 · 860 posts · 521 votes
    3y

    Congratulations, @Na Le - sound like you found a great deal for yourself. Are you planning on renting it out or living there? How many bedrooms were there?

    0Reply
  • Na Le
    OP
    Realtor · chicago, IL · Member since 2022 · 13 posts · 8 votes
    3y

    I am currently living in the unit. When I purchase my next investment property I may move on from here and rent it out because it is in a highly desired area.

    0Reply
  • Moe Khan
    Rental Property Investor · Fremont, CA · Member since 2018 · 38 posts · 8 votes
    3y
    Quote from @Na Le:

    Investment Info:

    Condo buy & hold investment.

    Purchase price: $155,000
    Cash invested: $49,000

    Gorgeous corner unit in the heart of Chicago.

    What made you interested in investing in this type of deal?

    I invested in my home

    How did you find this deal and how did you negotiate it?

    I found the unit myself and did my own negotiating.

    How did you finance this deal?

    Mortgage

    Lessons learned? Challenges?

    Living in my own property and working on the little day to days. Not get overwhelmed.

    Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

    Lender and attorney


     Congratulation on your purchase. Good decision.

    Do pay monthly HOA? I saw most of condos in Chicago charge a lot of HOA.

    0Reply
  • Na Le
    OP
    Realtor · chicago, IL · Member since 2022 · 13 posts · 8 votes
    3y
    Quote from @Moe Khan:
    Quote from @Na Le:

    Investment Info:

    Condo buy & hold investment.

    Purchase price: $155,000
    Cash invested: $49,000

    Gorgeous corner unit in the heart of Chicago.

    What made you interested in investing in this type of deal?

    I invested in my home

    How did you find this deal and how did you negotiate it?

    I found the unit myself and did my own negotiating.

    How did you finance this deal?

    Mortgage

    Lessons learned? Challenges?

    Living in my own property and working on the little day to days. Not get overwhelmed.

    Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

    Lender and attorney


     Congratulation on your purchase. Good decision.

    Do pay monthly HOA? I saw most of condos in Chicago charge a lot of HOA.


    I do pay HOA for this unit, condos in Chicago do have HOAS to take care of common spaces, maintenance and shared utilities. Even with the HOA and we are currently paying a special my cash flow is still stable.

    1Reply
  • Jonathan KlemmBusiness Member
    Moderator
    Contractor · Chicago, IL · Member since 2016 · 4k+ posts · 2k+ votes
    3y

    Hey @Na Le - Congrats on what sounds like an awesome investment property!  Being in the heart of Chicago is priceless, which neighborhood are you in?

    [email protected]
    Quality Builders4.966 Reviews
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    0Reply
  • Na Le
    OP
    Realtor · chicago, IL · Member since 2022 · 13 posts · 8 votes
    3y
    Quote from @Jonathan Klemm:

    Hey @Na Le - Congrats on what sounds like an awesome investment property!  Being in the heart of Chicago is priceless, which neighborhood are you in?


     Hey Jonathan,

    I am in East Lakeview, Addison and Lakeshore Dr. :)

    2Reply
  • Mark AinleyBusiness Member
    Property Manager · Roselle, IL (Chicago Suburb) · Member since 2013 · 2k+ posts · 1k+ votes
    3y

    @Na Le thanks for sharing!  Look forward to hear about the plan and timeline for #2!

    [email protected]630-781-6744Podcast Guest on Show #72
    GC Realty & Development LLC4.61066 Reviews
    WebsiteView Page
    0Reply
  • Na Le
    OP
    Realtor · chicago, IL · Member since 2022 · 13 posts · 8 votes
    3y
    Quote from @Mark Ainley:

    @Na Le thanks for sharing!  Look forward to hear about the plan and timeline for #2!


     Thanks Mark!

    This is actually #2, #1 is in Garfield Park.  I'll keep you updated on #3

    0Reply
  • Jonathan KlemmBusiness Member
    Moderator
    Contractor · Chicago, IL · Member since 2016 · 4k+ posts · 2k+ votes
    3y

    @Na Le - Lakeview is an awesome Chicago neighborhood.  Great choice!  Numbers 3, 4, & 5 will be a breeze now!

    What specific areas are you looking in?

    [email protected]
    Quality Builders4.966 Reviews
    WebsiteView Page
    0Reply
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