3730 North Marshfield

[Matt Lorentsen]

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Chicago.

Purchase price: $850,000
Cash invested: $250,000

This is a three unit investment property in the Lakeview neighborhood.

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

Long term income, tax advantages, and hopefully appreciation

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

With my agent

How did you finance this deal?

Traditional 30 year loan

How did you add value to the deal?

Renovation of the existing vacant units

What was the outcome?

Higher rent and higher quality tenants

Lessons learned? Challenges?

Don't try to get new leases done in November or December in Chicago, very little activity

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

Yes I used an agent from Sothebys