All Forum Posts by: Demetrius Davis

@Rob M. and @Daniel Benoit thanks for the advice and perspectives.

Daniel, what would you say are the key benefits to using an attorney rather than going at it alone?  Also, in the case where most of the sales in a town are all foreclosures, yet tax assessments are still at levels reflecting pre-recession values, is there any hope for winning appeals?

@Kaz Motlagh is your Riverdale property investment property? If so, has your experience with the area been positive?  I've consider a few deals there.

I would assume the tax break is only for disabled vets' primary residence.  And not to be judgmental, but I wouldn't be comfortable using a disabled vet that way.

Ed, 

Have you successfully appealed taxes in Dolton or Calumet City?  If so, would you mind sharing an example of what you were able to reduce the effective rate to?

I have wavered a lot over the past year as I've considered investment property for both flip and buy and hold in Chicago suburbs such as Park Forest, Dolton, and Calumet City. Mainly, I've been gun shy because of the high property taxes. In some cases the annual taxes are 25% of the sale price on REO's.

In these areas almost all the comps are REO's. Therefore, I believe one could be successful appealing the tax assessment, but I'm shy about taking the risk.

Has anyone been successful appealing taxes in any of these south suburban cook county towns?  Especially Park Forest.

I spent the morning in Joliet. Very interested in learning how to best invest there in light of the new warehouse developments and job surge. I would love to connect with this group.

I appreciate this post! I have been very perplexed lately trying to determine my strategy for Chicago and whether I should just sit out for now, as I invest tons of time chasing deals that often get overbid.

@Scott Steffek, I agree $25k and under is the price point to target for Gary. I don't have a team lined up for the area, but would love some referrals.

@Scott Steffek what type of cap rates are you able to get for your clients on Indiana properties?

@Elbert D., I am looking at Lake County, Indiana, as it's only 35 minutes from downtown Chicago. There are better deals there than Chicago, however competition is heavier than I expected. I was attempting to buy a SFH in Gary, IN a few weeks ago, and it was snatched up during the owner occupant exclusive period with HUD. I'm also interested in Milwaukee County, WI

I haven't considered Minnesota.  For now, I'm interested in properties that are within a 2 hour drive of Chicago.