Refinancing is complicated as well and you need to be dealing with brokers who can get you pre-construction assessments and guaranteed ARV on your renos. 

Ok this is my fist post, giving it a shot.I have been listening to the podcast and assessing how I can get started.

@Stephanie Irto I don't have a CMA for the current value but the assessed value is $35k.

Hey Gurus,want to know what you guys think about looking at property assessed value as the basis for making an offer (rental property investing) ?

Depending on the amount of the HOA fees it could be a nonstarter, so make sure to understand what they are at present as well as whether they are expected to escalate or if there are any special assessments coming in the future.

You have to be consistent, in this game to make progress. 

More specifically, code section 16-18-070 seems to indicate that it may be possible to get this fee waived if the area meets the goals in the City Space Plan.There are many, many pages of reading material online about the plan, but we are trying to figure out how to tell if the goals for our area are being met.Property is pretty squarely between the actual parks of Wicker Park and Humboldt Park and close to the 606, so this may not be one of the areas of the city requiring additional green space.Basically, if there is a viable way (by meeting current criteria of the City Space Plan) we’d like to not pay the fee if we can supply the correct information.It is very challenging to decipher this and we get one shot at getting the fee waived.If it matters, we are taking an existing 2 flat and turning it into a 3 flat – allowed by area zoning and there are no changes to the footprint of the existing building.We still have more research to do but we couldn’t even find specific information on the progress of the plan’s goals and what areas meet the Open Space Requirements now.16-18-070 Individualized Assessment Of Impact.

Challenge yourself to spend 30 min. a day on BP EVERYDAY for a week, 2 weeks, a month, whatever it takes for you to get started.Best of luck to you, please keep us updated on your progress!

I am receiving all my property tax assessments and they are going up a lot! 

Would you agree with that assessment?