All Forum Posts by: Frank Mirza

I read an article today which stated that Fannie & Freddie try to fix up their houses and even do renovate them to sell it for close to market value!

Is this true ? I was thinking it was the other way around...

[b]When is the right time to pursue a property ?

When the Notice of Default is filed ? In a short sale or just wait until the bank takes and start buying foreclosures ?

This has been the main issue I have been trying to figure out for the past year...it seems most people who have NODs are upside down on their houses and short sales are very hard to negotiate!

Than after the house goes into foreclosure now you are bidding against several investors who might be full cash buyers and they scoop up all the great deals! Very frustrated...

If this is the case than what would you all say is the average cap rate ?

I have properties right now from 12-16%

[b] Looking for wholesaler in Chicago...interested in 3-4 unit buildings as well as apartment building of 20 units+

How do I find the right wholesalers ? NO Pretenders

Hahaha that is what I was thinking as well...but with that high of a cash flow who cares about bullet holes!

[b]I have spoke to a few real estate investors around the area who have stated they own buildings and properties with cap rates of 25-30% Plus. I find that hard to believe...is this possible ?

Funny but I am in the exact same situation you were in 4 months ago..I also reside in Chicago..I would love to get some advice from you..please email me [email protected]