MobileAuto10…, Home Buyer in Chicago, IL

I am in Chicago area,,, and very interested in purchasing a "tenant occupied property". Can you give me some guidance?

Asked by MobileAuto1010, Chicago, IL Sun Oct 14, 2012

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You didnt mention if you need financing. I would be happy to help with a pre-qualification letter showing that you can afford the property. Most realtors will need to know if you are qualified for the mortgage before taking you out to look at properties. Joanna 773-327-3580
0 votes Thank Flag Link Mon Oct 29, 2012
Get yourself preapproved and work with a Realtor - plenty tenant occupied homes/buildings exist.
0 votes Thank Flag Link Fri Oct 19, 2012
As a buyer's agent here in Chicago, that does a lot of work with multi-unit buildings that are often tenant occupied, I have to ask, "Are you crazy?"

Before anyone considers buying a tenant occupied property it's imperative they figure what the current tenant situation is. If you are buying a distressed property, you may have tenants that aren't going to want to pay rent, or at least not your higher expectation of rent, and in a tenant's right dominated city like Chicago, you'll find yourself with several months of headaches that no amount of Tylenol will soften.

Always use caution and really, a lot of common sense before buying tenant occupied properties.
0 votes Thank Flag Link Sun Oct 14, 2012
There are plenty of good investments out there in the area you're targeting, and certain buildings that work well for rental cash flow. I'm happy to assist and give you advice.

Cindy Wilson
Koenig & Strey
0 votes Thank Flag Link Sun Oct 14, 2012

There are many properties available and many different styles of buildings, homes, apartments. Specifically, what is it that you are looking for?

Sohail A. Salahuddin | Group Founder

Innovative Property Consultants Group | Sales and Leasing

Jameson Sotheby’s International Realty

425 W. North Ave. | Chicago, IL 60610 

O: 312.335.3230 | C: 312.437.7799 | F: 847.805.6030

"Locally Known, Globally Recognized"
0 votes Thank Flag Link Sun Oct 14, 2012
you are asking id someone can help you buy a item that currently has over 5000 prices on the MLS.. what do you want?
0 votes Thank Flag Link Sun Oct 14, 2012
Depends on what kind of return you are looking for and the risk you're willing to take. Condo, multifamily, or stress free commercial triple net properties.

Feel free to contact me.

Jose Hernandez
Coldwell Banker
0 votes Thank Flag Link Sun Oct 14, 2012
I would be more than happy to help you acheive your objectives. Call or email me.
0 votes Thank Flag Link Sun Oct 14, 2012
I can set up a property search for you that only shows you properties that are currently leased. If you are a conservative investor, the focus would be on properties that have long-term leases. I advise landlords and tenants as both an attorney and a real estate broker and would be happy to help you in either capacity.
0 votes Thank Flag Link Sun Oct 14, 2012
We do this as part of our day to day business. Give me a call or email me, we have a process for evaluating risk and opportunities that fit you and your financial picture, and have had great success with both large and small investors.
You can see more about me in my profile and my number is 773-732-9123, call or text any time.
0 votes Thank Flag Link Sun Oct 14, 2012
There are a lot of rental properties out there that fit the bill. Just have someone help you search for them.
0 votes Thank Flag Link Sun Oct 14, 2012
you can search for property on truklia/zillow and others and/or find an agent to help you. If this is your first purchase you might want to consider a condo vs a house or 2-4 flat depending on your experience level. Let me know if you might like some help.
0 votes Thank Flag Link Sun Oct 14, 2012
I am an Investor and have some available. Need to know what your looking for single family, multi-family, section 8 etc..... You can call, text or e-mail me for more information.

Tony Guisto
Solid Solutions Real Estate and Investments, Inc.
0 votes Thank Flag Link Sun Oct 14, 2012
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