Buy and hold #5 - Chicago

[Angie Taggart]

Investment Info:

Single-family residence buy & hold investment in Chicago.

Purchase price: $73,000
Cash invested: $1

Purchase: $75,000 (plus $40,000 construction loan) using private money
Rehab: $24,500
Refi:$ $115,000 (rate and term)
ARV: $160,000
Rent: $1500 (expected)
Property management: $120
NOI: $1,163
Principal + Interest: $601.24
Cash-flow: $562

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

cash-flow

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

MLS

How did you finance this deal?

Front end: private money
Back end: rate and term conventional

How did you add value to the deal?

Cosmetic rehab

What was the outcome?

Still in the rehab process

[Angie Taggart]

@Bjorik Mutize- We have a few other properties in the area.  I hope to expand our portfolio with more properties in this location.

@Erica Raby- Be sure to check out Trulia's crime overlay.  Chicago is really a block by block city.  Good luck!

@Bob Floss II- We love Evanston! The Metra and the EL bring us right downtown!

@Account Closed- We have found the property taxes in Chicago to be WAY lower than the surrounding suburbs.  We have one in Bellwood with taxes three times the taxes on this property.  Before the appeal, taxes were $2350 and we got them down to $1700.