All Forum Posts by: Richard Quijano

I have 5 properties with 4 of them paid for in Chicago, Illinois.  I owe 185K on the fifth one with a recent appraisal of 680K.  I am thinking it might be a good time to 1039 into something bigger.  Go from 8 total units to 12+.  

Thoughts?

Investment Info:

Single-family residence buy & hold investment in Chicago.

Purchase price: $12,000
Cash invested: $26,000

SFR in Little Village

Investment Info:

Single-family residence buy & hold investment in Chicago.

Purchase price: $52,500
Cash invested: $75,000

SFR In Chicago

Investment Info:

Single-family residence other investment in Chicago.

Purchase price: $52,500
Cash invested: $75,000

SFR In Chicago

How did you find this deal and how did you negotiate it?

auction.com live auction April 2009 in Chicago

How did you finance this deal?

online

How did you add value to the deal?

didnt

What was the outcome?

won the auction and became a real estate investor and cash buyer.

Lessons learned? Challenges?

Cash is King

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

No

Investment Info:

Single-family residence buy & hold investment in Chicago.

Purchase price: $52,500
Cash invested: $75,000

SFR In Chicago

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Chicago.

Purchase price: $14,500
Cash invested: $40,000

2 Flat Frame 2B/1Bth units

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Chicago.

Purchase price: $20,000
Cash invested: $60,000

2 Flat brick building 2bd, 1bth units.

What made you interested in investing in this type of deal?

Bigger Pockets

How did you find this deal and how did you negotiate it?

MLS

How did you finance this deal?

Cash

How did you add value to the deal?

gut rehab

What was the outcome?

two unit rental property added to the portfolio

Lessons learned? Challenges?

Strike while the kettle is hot

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes but he is now moved on to work for HUD.

Anyone have a reliable appliance repair person in the City of Chicago they can recommend?

@Tom Shallcross Thanks I went with Mr. Porch and things went fairly we'll and, better yet, inspection passed.

Chicago is tenant friendly.  Prior to CoVid, I would tell you to know the law and the process so you can deal with tenant situations as quickly as possible.  Having a good lawyer helps.  With CoVid, it is nearly impossible to evict someone.