Investment Info:

Single-family residence buy & hold investment.

Purchase price: $241,500

Cash invested: $8,452

This was my family's starter home, which we kept and now rent out.

What ma...

I had 2 rental properties in Chicago.

I am sure the answer is "it depends" hence the term "creative financing" but was hoping people might offer a few examples to help me think more about how i might approach deals where the seller is motivated and the property as been listed for a long time. 

While the lack of income tax is a huge draw for many, I agree that property taxes can quickly eat into profits, especially for investors renting out properties.

Every time my wife and I purchased a property the numbers never looked attractive on day 1. 

I would offer 90% of the market value. if he sells it you with no agents he is saving 6%~ on real estate agent commission and the other 4% is a convenience fee in that he dos not have to endure showings etc. and you will get better pricing on a non-owner occupied property if you put down 25% is compared to 20%.  

Going to use equity from home to purchase next property. 

Making contacts including HML, contractors, RAs and Property Managers.

I would like to own 4-6 properties in the next three years.

I purchased my first rental property and it needed a complete renovation.