Do I think Chicago Illinois is appreciating like you said?

I'm meeting with a couple agents i was referred to through my network and am wondering what critical questions I should be asking them to understand if they are the right partners for me in this market, especially considering I will be managing this investment from the other side of the country, and what info I should be prepared to provide to them.

Based on how I am reading your summary it sounds like there is solid equity in the 2-family in order for a bank to cross-collaterize assets. 

I gave him notice, he huffed and puffed, but then he packed up and moved out.How? 

Read your mortgage paperwork for the due on sale clause. 

Now, moving forward he offered for us to take it over completely.

For payments, tools like Stripe, PayPal, or booking software like OwnerRez work well.Happy to connect if you’d like to chat more or need additional tips!

If comps for a 3 unit property are in the 950k range, then that is what it will come in at.The revenue from the STR will have no bearing on the value of the property itself.People argue about it from time to time, but I spoke with 10 different lenders, banks, credit unions, private lenders, etc etc and they all said the same thing.

What does your competition have?

Hey Jeff without knowing any details everything is what you are able negotiate. but you have to take in account the years interest rate and purchase price and what kind of cash flow.I will say get a mentor if you’re inexperienced these kind of deals can go left if you really have little knowledge when it comes to structure .