All Forum Posts by: Josh Mitchell

Hey @Account Closed - Fellow Naperville investor here! Welcome to BP!

@Charniece Polk Welcome to BP from a fellow Naperville buy and hold investor! Maybe I'll see ya around in the near future! Good luck!!

I would chime in and say Cinci so there is one less buyer to compete with in Naperville! ;)

@Kevin Olson there is a lot more than just a down payment that goes into underwriting, but to answer your question, being that it is your first property, I would imagine a bank would require a higher down payment than normal. Typically, 20-25% can be done, but again, with it being your first property you may need to build that "relationship" so don't be surprised if they ask for 30%+ down on the property.

Welcome @Einat Menashe Plenty of Chicago investors on here that should be able to help with your specific questions!

@Nick Dillaha as @Anthony Gayden said, that could be an option. Or use the $27k to purchase a rental that cash flows enough to cover that $212. I think that throwing that lump sum of money could be better used elsewhere.

@Vivek Desai agree with alot of the comments already posted. I started out with 2 condo's in Naperville, albeit 6 years ago when prices were lower. There are still plenty of deals on condo/townhomes in the Naperville area, but prices do seem to be trending upward so it will get harder and harder to find. I would def get with a realtor and set up some alerts if you are serious about pulling the trigger quickly, as this is normally what it takes to buy a property that makes sense in Naperville.

@Blake Edwards absolutely! Can’t wait to see what happens next!

Pretty awesome day when a realtor "thinks of you" when a potential rental comes on the market. Yesterday, our realtor had a different realtor reach out, and ask if my wife and I would be interested in this property before they open it up to the public! Pretty awesome knowing that the networking, and consistent action is starting to pay off!!! Hopefully the deals come by the boat load now!! Keep crushing it BP'ers!

@Mitchell Riggs we are also buy/hold investors in Naperville, and the numbers work well for us, although the barrier of entry is higher in this specific area. Once you crack it however, you can absolutely make things work here despite high taxes.