All Forum Posts by: Dhru Das

@Keisha F.I don't agree with the "something must be wrong" analogy. Sometimes it depends on seller's motivation and reason. May be he is looking to sell quickly for whatever reason and 100k cash looks appealing to him than waiting for 30-45 days for commercial loan to close with no guarantee. But yeah, do your due diligence like contingent on inspection, appraisal etc...refinancing is not a problem if the deal is good enough.

If the owner lives in the in-law unit and rents out the other 2 legal units, then nobody got anything to say I would think. Not sure if house hacking is an option for you...but yeah, duplexing down the 1st floor with basement is another option for getting more rent.

This one is tempting, I would love to tgo...I am also working on my first house hack and already got one under contract. Mondays are tough for me due to work. But please share your thoughts and experience after the meetup.

@Ryan McKanewelcome to BP!!

Being a broker you have market knowledge which would help...10k is enough to get started, some people get started with no money...you just have to be creative..partnership or seller financing would help...local meetups are way to go...

@Syed Lateef I buy rental properties. If I get one in really good area close to all amenities then I do AirBnb with it...as you know AirBnB is all about location...

@Syed Lateef my units are doing about same in Jeff park averaging 90% occupancy since starting in June. I got 2 units so far, looking to expand.

@Ankit B. depends on your goal. If you are looking for appreciation then Irving park, Avondale, Logan Sq etc are good. For cashflow you will need to look into south side of Chicago. Although there you will need good property managers and need to know the area as South side is block by block.

@Chad Pinchotwelcome to BP!

Read read read....gain as much knowledge as possible. But you have to start sometime!..how about house hacking via FHA loan?That is a great way to start. You can get FHA loan up to 4 unit building, live in one unit for minimum one year while you rent out the others. After one year you can move out of the property if you want. With only 3.5% down payment its always a great way to start out. Any question feel free to reach out!

@Ankit B.welcome to BP!.

You have come to the right place...here you will find all the resources to get you going towards your investment goal. yes, market is hot right now, so finding a deal via MLS in Chicago north side is hard...but you can still find deals if you act early and not look where everyone else is looking...or find properties which need work, get them rehabbed and then refinance out...House hacking via FHA loan may also be a good idea.

@Leslie Frieze along with hotpads also check https://www.rentlinx.com/