Investing In The Windy City- Chicago
Hello all, My partners and I are looking to do some investing in the Chicago area. Condo conversions, new construction,land that sort of thing. We would like to meet some other investors in the Chicago area to network with. We have done right around 2000 homes in Indiana in the past 10 years and are looking at switching focus to Chicago and would like to get some guidance inthat market.
Please let me know if this is not the right area to post this in.
Thanks
Joe
Its gonna be hard to get some cashflow in the city unless you go out west but you can probaly bank on the appr. in a few years.
Are you still interested in Chicago investments?
yes it is hard to find who would sell cash flow properties right now,everybody looking for those right now.But i do have discounted properties on the lake shore drive,which are condos and very nice ones.
If you interested.
We are based in Chicago. If you are paying retail, then yes, it is very difficult to cash flow. We do not pay anywhere near retail-we short everything. We woulod be happy to talk with you about this great city.
Sweet home Chicago. I invested in 2 flats on the south side of Chicago. A couple of the bldgs had section 8 tenants. There are deals to be made and bargains to be found on the south side if you are prepared to take on a little risk. The north side of the city is way overpriced and you may not find much cashflowing. Finding property near the Eisenhower Expressway in the area of 800W to about 4000W would really be ideal. The buildings are architechturally pleasing and you can find lots of condo conversations in that area. That was my next area of concentration but I moved. Hope that helps.
I have unsecured lines up to 1 million. If your looking for capital. Give me a private e-mail to discuss.
How much money do you need and what will be the future value. Do you have good credit so that the refi will go smoothly? Call me: 408-782-2380, I am a hard money lender and might be able to help. Jane
Call Chad Ackerson
He will be more than happy to assist you
He is very educated and creative, if anyone can help it would be him
Constantin Georgiou
Geo Alpine Inc.
Chad Ackerson
(760) 329-4789
(760)808-4116 cell
I think bird dogging is a good place to start.
another is deal analysis w/ funny money, e.g. do actuall buy the project just analyze. Turns out you might be able to bird dog it.
yes this is the biggest issue i have too.
I seemed few times that the deal will go and in the end the buyer cant prove up.
And people talk the talk like they are the best in this business, definitely know how to talk. But once the mandate and the buyer or buyers mandate get on the phone its 180 turn around. They dont want to show anything, which wasnt the problem before we got on the phone.
So starting tuesday, i dont need any LOI or POF at all, what i need is NCND and the reo order form thats all.And i am putting on the phone my source. they will do the work.
i guess its much easier for all of us.
there are realtors that specialize in NNN properties.
If you are looking for defaulted properties, I would look at lenders specialing in financing NNN deals, or commercial pools (CMBS).
It sounds like a good deal - good tenant and lease, newer building, good location... But what made it a good deal financially? What is lowest return you would accept on a NNN property?