All Forum Posts by: Dhru Das

I am very specific about south side and only interested on Chatham, some blocks in south shore, few blocks in Woodlawn area...No east Chatham. Small multi family to larger ones are fine..if you have any of these let me know.

@Leo Guerrero welcome to BP!.

As @Crystal Smith said, first make sure how much you can get preapproved for VA loan. Then 2-4 unit multifamily house hack would be a good option. Chicago NW side are safe areas with good cash flow like Belmont cragin, Dunning, Portage park etc.

@Sezuo Daudu check this Chicago area heat map that was provided here in the forums...This might help you. 

@Walmsley Gedeon I am also working on a 203k loan for a duplex in Chicago. Its been 3 months already and loan is still not closed. Hopefully we will close this week as it's finally approved by the lender. Then rehab will start, will see how long it takes...203k loans are good for rehabs since they need low down payment. Even at private/hard money minimum 10-15% DP are needed. Another low payment option would be to work with the seller to see if he can assist with DP or provide seller financing for the whole purchase price.

@Chris T. Thanks for the information!

@Tasha Beal welcome to BP!

As you probably know, Dallas is hands down the best place to invest right now..since you live in Dallas that's even better. Chicago area is great for cashflow, market has not appreciated yet as high as Dallas, Denver, Nashville etc..so still a good time to buy...for me I look at local areas first before going out of state. Since you are starting new I think it will be better to search in local areas but networking with local investors...You can try house hacking which is a great option for new investors.

@Van Blackman which areas in Chicago you have those 4 properties?

Thanks

@Cody Parker as far as I know, FHA loan has to be signed by primary homeowner only and not LLC or partnerships....but may be a lender can confirm this...You will have to live there for one year and yes, moving out after one year is fine.

@Harjeet Bhatti I thought investors properties are always 25% down for anything over a SFR...I would definitely be interested on 15% down investor properties..

@Meera Lakhavani as @Stefanie K. suggested if you are just starting investing then moving in to the property will be great as you can purchase via different options like FHA/FHA203K/homestyle/5% down 1st time buyer etc...all with very low down payment..