Chicago FHA Loan Limits for Multi-Family Residential Buildings
Tuesday, April 15
Some of you may already know, but the FHA (Federal Housing Administration) allows home buyers to purchase multi-family property using a mortgage for as little as 3.5% of the purchase price. Recently, the FHA reduced the loan limits in Illinois which will affect the purchasing power of future b...
Live for Free With a Two Flat in Chicago
Friday, March 14
In Chicago, a large amount of lots in the city are filled with multi-unit buildings including two-unit buildings called two-flats. The standard two flat is made of a wood-frame, brick or greystone and will be two stories high with a basement and a 25 foot wide x 125 foot deep lot. These two...
10 Free Websites For Your Investment Property Search
Thursday, January 16
1. Property Searches – www.chicagoREinvestment.com - Use this website to search all types of residential properties. 2. Chicago Crime Map - http://gis.chicagopolice.org/ - Use this website to search for crime incidents in your neighborhood or others. This information is provided directly...
What Makes a Basement Apartment Legal in Chicago?
Tuesday, November 19
When you’re searching for your next in Chicago, it’s very likely you’ll come across some illegal basement apartments in your search. This begs the question though, what makes a basement apartment legal? Well, I’ve done some digging to help you understand generally what will make your baseme...
Two Options for Renting to Tenants with Bad Credit
Monday, November 04
I recently had a positive experience with my two flat rental property in Logan Squarethat I
Top 5 Reasons to buy a Two Flat:
Tuesday, October 15
1. You want to earn passive income. You rent both units out and earn a cash flow. Sounds easy, but there is more to it and most of the heavy lifting is done before someone moves in and pays you rent. First, you must select a good property that will cash flow at market rents and in the fut...