All Forum Posts by: David Green

That's a great return. 

Congrats and thanks for sharing!

Welcome, looking forward to meeting you at one of the meetups.

I am planning on going to the meetup tomorrow night. Hope to see you guys there.

I am planning to go to the meetup that @Dale Stevens referenced above.  Hope to see you guys there!

I am looking to invest in Northwest Indiana (NWI) using the BRRRR (Buy, Rehab, Rent, ReFi, Repeat) strategy. I need to build out my team of agents, wholesalers, contractors, portfolio lenders, and property management. I would love to connect with other investors in the area.

@Dale StevensI would love to come to your next meetup.  I plan to invest in NWI (most likely Hammond) and need to build out my network.

@Brie Schmidt I just came across this post and I would also be very interested in our 2-4 unit analysis on the north side if you would be willing to share it.  I am stuck on deciding which Chicago sub-market to invest in.  

I have been researching the cash flow properties in the south suburbs, 2 flats on the south side, and even properties out near me (more of an appreciation play), maybe the Brookfield area. 

It can be difficult.  You best bet is to call local banks and ask.  They will likely have a seasoning requirement where you will have to have to show rent history for 6 months or 12 months.  

Paying cash means they will have to be 1st position lien which many banks are not fond of for a LOC. .

Hi BP Nation

I am a full time software engineer working in downtown Chicago.

I have been dabbling in real estate since 2004 and I am ready to up my game! I am very grateful for finding BP. There is so much good information on here and the members are so helpful!

I own three properties total and I am currently on my 2nd house hack.

Deal #1:

Desc: House Hack

Type: Condo

Year: 2004

Location: Uptown neighborhood of Chicago

Deal #2:

Desc: House Hack

Type: SFH (3 bed, 2, bath)

Year: 2012

Location: La Grange, IL

Deal #3

Desc: Short Sale, Cash

Type: Condo

Year: 2013

Location, La Grange Park, IL

My goal is to build a portfolio of properties that cashflow 100K/year. Going forward my primary startegy is buy-and-hold but I am open to fix-and-flip.

I am excited to be a part of this community!

Hi All

I picked up an investment condo a couple years ago in the western suburbs of Chicago and would like to tap some of my equity for reserves via a HELOC.

I have only found one option which is Wells Fargo. They offered me 60% LTV at a valuation that is below market IMO.

PenFed was the only other place that that I spoke to that would consider a LOC on an investment property but they are not willing to do first position liens on LOC.

Has anyone had any recent success with Chicago lender who offer a 1st position LOC secured by investment property?

Many Thanks

-David