I had watched it drop $15k just in a 30 day period brining it back down to the price they had paid in 2023 before their rehab.

Chicago has no east west train line that it really needs, It’s already too expensive for anyone to invest, but not expensive enough to really build out.  

Preforeclosure owner finance wrap, paid off the default payments and taxes with cash and assumed the owners loan.

However they are saying they will get it paid off within 10 days and closing should proceed once that is done.

I bought it last year and thus far have: 1) Appealed assessed value to bring down taxes, 2) Got better (less expensive) insurance, 2) Rehabbed 3/4 units, and 3) increased rents $300-$400 per unit along the way.

They failed to rent a unit in a great location/condition and a hot market for 4 months, and the rehab expense reports don't line up with the estimates they provided.

Interest always paid on time, and principal was returned with bonus right on schedule.

We just paid $500 for a 2,600 sqft house that was fairly clean.

400k is so expensive for such a small home.

Preforeclosure owner finance wrap, paid off the default payments and taxes with cash and assumed the owners loan.