Hey everyone, I'm looking to purchase a multi-unit building (2-4 units) in Chicago (Logan Square / Bridgeport).

Just because the statistical data says a home is worth $212M, doesn't mean the house hasn't been gutted or that the 2,000 square foot add on wasn't done with a permit or that there isn't a crackhead living in the place right now using the furniture as firewood. 

In 15 minutes, I can be in Times Square.  

My house meet their square footage requirement.  

Those rust the fastest because it's corrosion "squared".

A little high per foot maybe, but my local guy has a $350 minimum so that seems reasonable. 

In the interview the wholesaler said that once he gets a motivated seller to call him via direct mail marketing, he allows the seller to make him an offer price for the home and if it's a reasonable offer, the wholesaler sends out the contract for the seller to sign before he (the wholesaler) even steps foot on the property.

Oh and I usually get my list of targeted prospect free, It takes more time because its alot of foot work and chasing down I don't buy absentees AT ALL...

People are getting top dollar for such small square footage and as soon as properties are listed they are literally rented a day or two after.Thanks!

If you're just adding square footage, this falls under the standard fix and fix and flip program (1-yr, no prepay, 12.5%, 2.5pts).