Hey everyoneNew investor hereCan you guys classified what’s considered A, B, C, D locations in northwest & west Chicago suburbs,I’ve been looking like crazy to find an apartment buildings to purchase but getting outbid by a lot, all multi units properties getting almost full price offers & close deals (where full price numbers doesn’t make sense!!!)

As an engineer, you are likely to be classified as an exempt employee, which means you get to work overtime without being entitled to additional pay.

Curious, what areas in San Diego would you classify below a C area? 

@Corey Frank if you plan on staying at 4 and under then you should just get a 30 year fixed conventional loan for them. 5 and over classifies as commercial property.

For newly constructed, purchased or renovated properties and also retroactive generally over the last 10 years, building components are properly classified into individual units of property and accurate recovery periods for computing depreciation deductions.

Craigslist, Houzz.com, REIN events, newspaper classified ads, local real estate groups, job sites that are in process, driving around local businesses in the area)Partnering - find someone who already has the contacts in place and offer up some type of partnership to leverage those contacts.Purchase the contacts - find someone who already has the contacts and is willing to share those contacts with you for something in return.I always prefer the research route, because I complete due diligence on folks that I use and target having 3-5 folks for everything I need.  

How would you classify the area Im considering?

Call the county to determine if the property is classified as homestead or non homestead as this will determine the length of the redemption period (6 months vs. two years).6.

Here  Send mailers to out-of-state landlords of multifamily housesSend mailers to absentee owners of single family housesSend mailers to vacant land owners (only in specific areas in the path of growth)Place “We Buy houses” flyers/business cards at unemployment offices….a lot of people there could be having trouble with their homes and may need a solutionOne-page Flyers posted on bulletin boards at large storesPost ads on craigslist stating, “We Buy houses”Send emails to craigslist ads with properties for rent (the emails will go to landlords who may be looking to sell, or buying more properties)Mailers to specific zip codes, asking if they want to sell or know someone who doesMailers to divorce attorneys who can refer clientsMailers/emails to FSBOsBuy a “leads list” of landlords from AgentPro247 or RealQuestPost ads on Backpage stating “We Want To Buy Your Property”Send mailers to properties purchased between 3k-20k within last five years (the owner might be a novice flipper who never did anything with the property)Send mailers to Estate/Probate Attorneys (if you have an attorney, consider having them send the letter, because attorneys tend to open mail from other attorneys)Bandit signs: “We Buy Houses”Send mailers to owners who have owned for 15 years or more (these properties tend to be owned free and clear, which means they could be much more flexible with their sales price)Send mailers to people facing foreclosureTarget people who own vacant homes – these are almost always ripe for purchasing at a discountTarget people who are dealing with financial chaos of any sortSend ads/mailers/business cards to Credit Repair Agencies & Credit CounselorsTarget HUD/VA ForeclosuresPurchase leads lists of folks who inherited homesSend mailers to people arrested for violent crimes (going to prison for a long time)Send Mailers/ads/business cards to RealtorsSend mailers to employees who have been laid off (ie “corporate downsizing” in the news)Networking with other investorsLocate list of section 8 approved properties—send mailers to the ownersPost Newspaper classified ads: We Buys housesSend mailers to Properties with liens: Mechanics Liens, HOA Liens, Tax LiensContact sales people at new home subdivisions (their clients will want to sell their OLD houses) or place a sign near a new home subdivisions that say “Sell Your House Fast” with your phone number.

I did something I will not classify as a mistake, but I will never do it again.