All Forum Posts by: Adrienne Wonzer

By strategy, I mean as a way to acquire properties to hold, just as some use finding off-market properties to purchase, rehab or wholesale. Thanks for your input, I will check the for further information.

Is anyone using Foreclosures.com as a part of their Buy and Hold Strategy, if so what are the Pros and Cons of the site.

Thanks for your replies.

Hi Calvin,

I grew up in South Shore and know the area well, I am a new wholesaler and am always looking for off market deals in on the South Side, they are so many neighborhood gems to choose from.

 Contact me if you have any questions or if you want to meet up when you come to the area. While going west can be a little iffy in the South Shore area, it will depend on how far south you are as well.

Thank you, have you assigned any property there as a wholesaler?

Chicagoland Wholesalers, has anyone wholesaled property in Harvey, Il. I have sold property there as a realtor and I know their inspections are ridiculous and time-consuming, does this apply to wholesaling as well, any help would be appreciated.

Hey Scott nice area, not certain on the price you paid without knowing more and the condition.

FHA loans are not just for low-income and as long as your partner is not on the loan your strategy will work, if your partner is on the loan or title they would not qualify for an FHA loan. Further you can finance up to 4 units using FHA, but you are only allowed one open FHA loan and must be an owner-occupant. You can change your strategy down the road by refinancing to conventional if that is an option in a year. You would need the down payment but if your currently buying under market value you should come out even if not ahead.

Thanks David, I will keep that in mind.

Thanks Brian, so that brings up two additional questions, although I am doing some advanced research on the property how do I ensure the quality of the title. As far as value goes, I am pretty good in the areas where I would purchase in knowing what to pass on. And finally, how would I find out if the back taxes are not paid prior to bidding, I am not sure I understand or actually trust the information on the assessors sight, have you found their information to be solid, if so I can search by address for this.

Thanks for the help, I have my toe in the water and want to dive in, but not blindly.

Does anyone have any experience they can share regarding purchasing properties at the Cook County Foreclosure sale, I drove quire a few properties and some of them still had tenants.

What has been your experience, what pitfalls should I consider as I move into to area of investing?