Once you move to Chicago, look for similar groups—Chicago has a vibrant real estate community.Building a Team: Since you’re new, connecting with a knowledgeable real estate agent, lender, and property manager in your target area is critical.

One thing that is really challenging about this market is the huge number of agents and groups that are here.Thanks again!

Connect with a lender/agent locally to get a feel for the area/what you can qualify.

The seller and their agent hopefully did a good job communicating with that tenant to set expectations.

Aligning yourself with a buyers agent who understands the STR market is absolutely critical. 

I want to save a little $ by not having to pay an agent over 25K in commission for a project like this.

From google: “The Fair Housing Act (FHA) does not apply to certain types of rentals, including: Owner-occupied buildings: If the building has four or fewer units and is owned by the person who lives there Single-family homes: If the owner rents or sells the home without using a real estate agent, and they own no more than three homes Religious organizations: If the property is only available to members of the organization's religion Private clubs: If the property is only available to members of the club Senior housing: If the property is designated for people who are at least 55 years old Even if a property is exempt from the FHA, it must still comply with the law's ban on discriminatory statements, notices, or advertising.

Recently, our real estate agent did a market analysis and estimates we can sell for between $575K-$585K, resulting in a net gain after all of our fees of about $100K.

Good evening BP world,I am looking to make some contacts, specifically RE agents and hands-on investors in the phoenix area, in order to start acquiring some value add SFH investment properties.

That’s the magic of real estate compounding over time, and it’s stories like yours that really highlight this.. from what i read in the street journal, that slow build often outperforms shorter-term stategies.From an investor-friendly agent’s perspective, being willing to dig into the neighborhoods (driving for dollars) and having a robust network.. from probate attorneys to local contractors.. can pay off big.