I don't know what the market is like in Chicago, but out here it is slowing down.

...If this were a short sale, then the letter might have some bearing in getting the bank to agree to the discount.But for REO properties, the banks really only want to see offers; your explanations and justifications for low offers on REO will fall on deaf ears at the bank.

Only a few rehab projs in I stumbled across a REO 3 flat on a prestigious steet in an very upscale Chicago suburb.

(Please bear with me if I don't use the right term.)

I've been looking at some fairly cheap smaller commercial properties (6 - 12 units) which have been recently rehabbed (less than 3 months ago) and are now currently fully occupied in the Chicago area.

It always bears repeating.

Hey Tom,Good way to supplement your leads is to put out bandit signs (I see your from the Chicago area so I'm sure you see them around all the time) Worked VERY well for me when I needed a surplus of pre-foreclosure leads.Other than that...I've found networking provides higher quality leads than direct mail.

I live in Chicago and have owned up to 11 properties out-of-state.

Especially if you can search PRO's in your area.Then you could give an incentive to people who bring on PRO accounts in say, Chicago. =)I think the point I'm making is to encourage more action and true relationship building than perusing.

Hi guys, newbie from Chicago here.