All Forum Posts by: Josh Mitchell

Welcome to BP @Wendy Andrade I am in Naperville! 

@Anhtuan Pham are you looking at the assessed value for property taxes? That will not give you the value of the property. That is just showing you how they are assessing your fair market value for tax purposes. You need to find the recently sold 2-4 units within a mile of that property and within the last 6 months (if none, expanded your search further out and longer time)

@Anhtuan Pham comps for 2-4 are pretty easily found based on past sales. These properties are considered to be residential properties, and not commercial. You can simply ask a realtor to gather past sales over the last x amount of months to view what has sold in your immediate area. Hope that helps!

@Dale E. I am an investor (and realtor) in Naperville! Welcome to BP! This area is tough to find a cash flowing property currently, especially with interest rates the way they are (higher sales prices)

Appreciation is the play in Naperville, but depending on your budget a live in flip wouldn't be a bad idea in some areas. If you move west, you will find more "affordable" options (Aurora, yorkville, plano, oswego, etc.) Aurora does have some specific landlord rules to follow!

Feel free to DM me with any questions! I am happy to help answer any questions, or help you with the purchase of a new place!

Cheers!

@Joe Mannino 

Welcome to BP! I am around if you have any questions in regards to real estate in the area. I have been investing here for the past 7+ years.

I am 31 at 10 and counting.... Buy and hold only to this point, but would love to fit in 1-2 flips per year to use profits to accelerate buy and holds!

@Qadre Lewis having tenants in the property already can be a good "instant" profit if it cash flows, HOWEVER. In negotiations, I would request to screen tenants with your own process. Make sure they are tenants YOU would put into your property. If so, great, if not, doesn't mean you don't buy, but could give notice to vacate then. Make sure you get copies of the leases and know what that time frame was in their original lease with owner.

@David Mo sending PM to you now.

@Endi Legend Sent you a PM with recommendation! 

@Account Closed I started by house hacking my first condo in Naperville and grew from there!