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All Forum Posts by: Mike B.

Mike B. has started 8 posts and replied 377 times.

Post: Newbie from Prospect Hts IL (Suburb of Chicago)

Mike B.Posted
  • Developer
  • Chicago, IL
  • Posts 428
  • Votes 349
Originally posted by @Rory Compton:

Hey Paul, I went to BG high school right down the street from you.  I do not invest or live the area anymore though.  The podcasts are great, but I prefer the books.  They have a more direct, concise, and high yield information.

BG huh? I went to Stevenson, but only crossed over to the cook county side to go to Taco Bell.

Post: 9 days on the market and no showings!

Mike B.Posted
  • Developer
  • Chicago, IL
  • Posts 428
  • Votes 349

I comped your property (Clyborne to Lasalle, North to Division). From there you have to follow the units that sold or are available on the tracks. 

1543 N Hudson Unit 2 is ACTV @ $452k

1546 N Orleans Unit 504 CLSD @ $494,700

1446 N North Park Unit 4R is ACTV @ $499k

As you can see, none of them have broke the $500k mark so I'd definitely keep an eye on that.

With that being said, you're still early in you're listing so I wouldn't panic just yet. I think you have a better product than your competition next door @ 1529 N Cleveland #3S and the CLSD unit @ 1527 N Cleveland Unit 2N for $555k makes me optimistic that you're not too far off from a contract. Give it a dozen showings and drop it $10k...If your sellers prefer to get out of it quicker then drop it to $499k.

Good luck! 

Post: Recommendes local banks/union in Chicago

Mike B.Posted
  • Developer
  • Chicago, IL
  • Posts 428
  • Votes 349

@Adam Frank First Eagle on Madison

Post: Analyzing Neighborhoods in Chicago

Mike B.Posted
  • Developer
  • Chicago, IL
  • Posts 428
  • Votes 349

This site is a good resource. What do you want to know?

Post: I'm Looking for Investor Friendly attorney in the Chicago area

Mike B.Posted
  • Developer
  • Chicago, IL
  • Posts 428
  • Votes 349

just sent you a pm with a referral.

Post: Seeking Professional Opinion

Mike B.Posted
  • Developer
  • Chicago, IL
  • Posts 428
  • Votes 349

@Linda Tsacalides Hey neighbor! I live in Albany Park, I'd be happy to walk through the property with fresh eyes. I can also give you some referrals to leasing agents that may be able to help. A rental listing may not be a priority to a buyer agent as they're used to bigger commissions. Good luck!

Post: New to Bigger Pockets

Mike B.Posted
  • Developer
  • Chicago, IL
  • Posts 428
  • Votes 349

Welcome! I lived in BG for a few years and went to Stevenson HS. You'll find a lot of great information on this site! 

Post: Invest around Chicago

Mike B.Posted
  • Developer
  • Chicago, IL
  • Posts 428
  • Votes 349

Hi Benoit, I like Round Lake for cashflow investments. You can pick up sfh's pretty cheap. Don't expect a dollar of appreciation though. Grayslake has some good pockets for cashflow as well. Zion, N Chicago and Waukegan can offer solid cashflow investments, but those areas are a little rougher so I'd be very cautious if you're a first time investor. Feel free to pm me if you have any questions. 

Post: More than one real estate agent?

Mike B.Posted
  • Developer
  • Chicago, IL
  • Posts 428
  • Votes 349

@Chris Pauli No, one shouldn't have anything to do with the other. The agent selling your home is incentivized by commission and is obligated to give you proper representation by law. While I don't know John Warren personally, he comes highly recommended by a lot of people that I respect. You'll be in good hands. Good luck in your search!

Post: More than one real estate agent?

Mike B.Posted
  • Developer
  • Chicago, IL
  • Posts 428
  • Votes 349

As long as you're transparent with them it shouldn't be a problem. Personally, I'd get rid of the non performer and give someone else a shot if you're not happy. Plugging info in the mls to auto send screams bare minimum laziness to me.