All Forum Posts by: Tony Freeman

As a new investor, especially in the world of multi-units, I'm sure you have come across a ton of buildings that are being sold "as-is" and are required to write that into the offer that you send over. Although it seems pretty straight forward that when you agree to an as-is sale, you are taking it in whatever condition you get it in and won't get any credits or repairs, but its not always that black and white. In fact, a lot of the as-is deals that I've been apart of on the buy side, we were able to get some form of credit still. 

Now, this doesn't mean that after your inspection, you send out a long laundry list of things to the sell side and expect them to accommodate everything because that 10 times out of 10 just won't happen. In fact, you have to be fully prepared to potentially not walk away with any repair or credit no matter how extensive it is but every seller is different. However, the things you can usually ask credits for while under an as-is sale, are typically things that can be potentially hazardous that you wouldn't have seen or known about until you got through the inspection. 

The most common credits I see people ask for are when it is as-is has to do with the roof, the foundation, or a deck(if the property has one.) Even when an issue with those things come up during the inspection, you still have to be mindful that you are under an as-is sale. Any kind of credit you can receive would be good step but I never recommend going in and asking for the full price of the repair or replacement or at least if you do, don't keep your hopes too high that they will give the full credit. 

Lastly, please do not be bullied into feeling like because you signed the as-is that you have no leg to stand on when asking for a credit or repair. A lot of sellers and listing agents will try to make it feel that way but as long as you have a great attorney and agent that can explain things to the opposing side and they can paint the picture to them, you have a higher chance of walking away with something. 

We are excited to announce another in-person networking meetup at A and N Mortgage.


Everyone has a Most Important Next Step (MINS) in their real estate investing journey. The goal of our meetup is to connect you with the person who can help you take that step.


This will be a pure networking event no pitching or promoting.
If nothing else come for the good vibes, pool, darts, golf simulator, drinks, and breakfast snacks.

@Jonathan Klemm I would say from my experience working with new investors, the typical budget is anywhere from $450-650K for a multi-unit and they are looking for a property that is either turnkey or just needs some light rehabbing. Most first time investors don't want to purchase something that requires an extensive rehab as their first building and if you do find things in those areas within that price range, you're looking at either a gut rehab or maybe even a tear down. So I'd say if a first time investor wants to be in that area and has a more limited budget, I'd say go the condo route. 

As far as the Lincoln Yards goes, I do not believe they have a tentative date set for that community to open but I do know that the developers were set to break ground on the first building there back in July. My guess is it will maybe be 2023 before the full community is built and open. 

So since it seems like investing along the blue line has become the goal and hasn't shown any signs of slowing down, one thing that I have been preaching about to clients a lot lately is investing along the 606 trail which subsequently aligns with the neighborhoods that the blue line runs through.

The biggest reason I've been urging clients to find something that is near the 606 trail is because of a really big development called the Lincoln Yards. While don't know all of the details of what all will be apart of the Lincoln Yards, one of the crucial parts of the development is they are suppose to be expanding the 606 trail into Lincoln Park which is HUGE! My thought is, everything along the 606 trail and the blue line in that area is going to blow up even more once this development is finished. 

Hey @Adam Bandola it's amazing that you are looking to get started on your real estate journey early on, something I wish I would have done myself when I first graduated. To answer your question about it being worth it to purchase a 2 unit or 3/4 unit and to be honest it all really depends on what your goal is as an investor. As I'm sure you know, you're going to get different returns based on whether you have a 2, 3, or 4 unit building but you also have to take into consideration, how much you want to spend/can afford to spend. Location is a big one as well too which is something I saw you briefly touch on as well. Some of your main focuses as an investors in Chicago should be investments along the Green Line, Blue Line, Pink Line, and Brown Line. These are the most booming areas in Chicago right now.

Hi Adedotun! I actually mention Bronzeville a lot to not only newer investors but even experienced investors as well because Bronzeville has become a very marketable and investor friendly area. Getting an investment that sits along the Green Line has definitely become a higher priority lately for investors. Would love to connect and tell you more about it!

@Jonathan Klemm I do think those are great areas to invest in especially Bronzeville because of its proximity to the green line and the fact they are currently in the works to adding an additional green line stop. If an investor is looking for great areas in the south to invest in, I'd say Bronzeville and Woodlawn. Once you start moving a little more North and Northwest, anything that sits along the Blue Line(Logan Square, Avondale, Irving Park), Pink Line(Pilsen, Mckinley Park), and Brown Line(Albany Park), are properties that are worth a deeper look into. 

I have the pleasure of working with all investors at different levels but first time investors and out of state investors have seemed to pop up more and more. That being said, one tip I can give new investors and out of state investors is to have at least some sort of grasp on the neighborhoods to invest in before just diving into making offers and such.

With Chicago being such a large city filled with a ton of vibrant neighborhoods, I don't believe that it should be up to you as a first time investor or out of state investor to learn about these neighborhoods through your own research. As much as you probably want to do a ton of research, with the amount of neighborhoods that would be good for investment opportunities, there's only so much research you can do before your brain just hits a wall. So first things first, you want to work with someone that really knows what's going on in the booming neighborhoods and they should be able to paint a clear enough picture for you as to why that area is good to invest in. Having an agent that specializes in one area is great if you are really set on being in that area and nowhere else but if you are open to multiple areas, you definitely want someone that can explain to you what goes on in those areas, what the rents are like, what kind of entertainment there is out there, what's the public transportation like, etc. Every neighborhood is different no matter how close together they may be.

Spiraling off of knowing the neighborhoods, you should understand that Chicago is very big on public transportation. So much so that a good amount of people that move out here will get rid of their car. So finding investments that are near public transportation, especially near specific train lines(i.e. Blue Line, Pink Line, Brown Line), are the investments that you would really want to go after when they pop up. 

Hey Terrance! My client @Jonathan Klemm is an amazing contractor and investor himself, so maybe you two can connect. We also are hosting a meetup event next Thursday for investors, contractors, developers, etc. Feel free to come check it out! The event is called "Chicago RE Investor Meetup **In-Person**"

Hi All!

I currently am working with a client that is looking to purchase a 2-4 unit or even 5+ unit in the following areas: Clarendon Hills, Oak Brook, Hinsdale, Darien, Lombard, Naperville, Downers Grove, Elmhurst, Western Springs, Deerfield, Northbrook, Northfield, Glenview. He's not looking to exceed more than $800K and if it is fully rented already, that would be a big plus for him. He's pretty particular in the areas he wants it to be in, so if it is not in one of the areas I named but instead nearby it, he more than likely will not go for it. I know pickings are slim especially for multi-units in these areas but if you have any off market or potential off market deals, feel free to message me about them! Thanks.