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Updated about 8 years ago,

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Jonathan Klemm
Contractors
Pro Member
  • Contractor
  • Chicago, IL
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Chicago area flip, cash or finance?

Jonathan Klemm
Contractors
Pro Member
  • Contractor
  • Chicago, IL
ModeratorPosted

Hey BP,

My names Jonathan I am new to the bigger pockets community.  I am nearing what should be my first successful flip (in Louisville, KY) and am looking for advice on how to move forward.  I believe I have the perfect contractor/project manger and have the right contacts to pursue real estate investing in the Chicago land area.  I should have ~$200k cash to use on my next investment.  My question is whether it makes more sense to find a smaller unit (maybe SF foreclosure) and pay cash or do a few conventional loans to get 2 or 3 properties?  Does it make any sense to try to finance and flip a multi-family instead of 2 or 3 SF? Also any suggestions on which Chicago suburbs have more potential than others?  Thank you for the help!

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