I’ve had to widen my search radius to smaller suburbs or target properties needing light cosmetic work to make the numbers work.Value-add opportunities: Adding amenities tenants love, like finished basements or upgraded kitchens, seems to justify rent premiums in this market.Navigating the competition:Be creative with financing: Seller financing or partnering with other investors has been helpful to secure deals when conventional offers didn’t cut it.Work with local agents and wholesalers: They often have their finger on the pulse of off-market opportunities, which is critical in a hot market.For those new to suburban Chicago investing, I’d say the key is finding the “sweet spot” neighborhoods—ones on the rise but not yet maxed out in price.

Most sellers that are open to selling you a deal off-market are just like I was with my rentals: the way to motivate them to sell is to give them a price HIGHER than they think they can get on the market.  

Cause my biggest issue with finding BRRRR deals is like I mentioned above, if I put in inspection contingencies, my offer is not strong enough and the seller picks any of the other 5 buyers that have no inspection contingency. 

Sale Price$171,000 - $55,000 (Rehab) - $13,680 (8% fees) - $40,000 (profit) = $62,320 MAOFrom talking to other investors and doing research, typically a Novation allow more money to the seller, correct? 

When looking at discounting properties to find a deal, I tend to lean into what the seller is looking for when I know I'm holding. 

It’s a motel/RV park located in a rural market with seller financing on the table.

There was quite a bit of unused land and the zoning gave me some flexibility if I wanted to expand various aspects of the property.Also the self storage units were all below market rent and the seller was willing to finance at a decent rate with a 5 year balloon.

Looking to learn more about seller financing, the art of the deal as well as connecting with like minded investors in Chicago and beyond!

The owner is open to seller finance for us.

I'd be cautious of a seller that refuses to allow buyers to inspect the property.