All Forum Posts by: Eudith Vacio

Hey @Irene Low

It is definitely getting much more difficult to make deals work but you have to keep running the numbers. Have you considered purchasing a property that needs a little bit of add value so you can get it below market value? My first property was a condo - and it turned out to be a terrific investment. I think someone also mentioned a triplex, and that might work as well so you can get economies of scale there to supplement the income. 

I hope it all works out for you!

So I've been encountering so much more investors wanting to invest in Northwest Indiana that are investing in Chicago and there a quite a few differences to keep in mind if you want to purchase in the area that are to your benefit 🤓 

1) There are NO attorneys involved in the transaction when purchasing a property in Indiana; we, the realtors do all of the work 😃 it doesn't mean you can't negotiate, it just means that all of the paperwork is done by realtors; and the title company arranges the closing

2) Indiana is landlord-friendly, meaning that if you ever have to evict someone, it will only take 2-4 weeks and you DO NOT need an attorney to process the eviction, you take care of everything yourself, its just a small fee to initiate the eviction with the county

3) Tenants pay water! its even in a standard lease in Indiana; if its a duplex; I usually split the water in half; and water is pretty cheap out there anyway, so it doesn't make a huge dent in the tenants expense

this is one of several conversations I have with my clients when they are interested in investing in NWI 🏠

IF THERE IS ANYTHING ELSE I MISSED, FEEL FREE TO ADD!

Hey Simon, thats super cool to hear - young, energetic, and ambitious! all that is needed to get started and I'm sure once you start networking, you will find your way and figure out what your next steps are. I started networking 5 years ago when I was working in the corporate world as an analyst, and here I am now working as a real estate agent and steadily growing my RE portfolio, happy to talk if you need to pick a brain! 😃

Hey @Michelle Backer - yes! Chicago or Indiana are great markets for cashflow + appreciation 😃

Wowowow! was this your first investment?

I am a huge fan of FHA 203k loans!

Hey @Danielle Craig - that's amazing! Welcome to BiggerPockets and you can definitely meet like-minded individuals here in Chicago on here. 

Are you a new realtor, too? Would love to connect when you have some time and offer you some tips! 😃

Hey @Frank Ugboh 👋🏽

If the building only has 2 legal units, then you have to look at other comparable that are legal 2 units with non-conforming units. These are definitely add-value apartments that you can use to get more income and while you should be diligent in who you rent those units out to, I have seen many of my clients have success with those types of units. Where in the city are you looking to purchase? 🤓

Hey @Jouardo Martinez - I am not too familar with NYC investing but I have helped a few investors that live in NY invest in Chicago / Indiana if you're ever interested, feel free to reach out - would love to connect!

Sounds like this is going to be a game-changing event! MUST ATTEND!

Hey @Jenniffer Nosenko 👋🏽

I'm so happy to hear about another women coming into the real estate space! You can definitely find some great information on this website and I would be happy to meet up with you and chit chat about real estate. I invest in Chicago and guess what? I'm also a realtor 😃 anyway, here to help if you are open to it!