Home Buying in Chicago>Question Details

Jovim, Home Buyer in Chicago, IL

Looking for Buyer's Agent for Wicker/Bucktown/East Village/River West/Ukranian Village

Asked by Jovim, Chicago, IL Wed Sep 5, 2012

First timer here. Been renting in Wicker for the past 3 yrs. Own a business in River West. Looking to find a dedicated agent. I know this is a long shot with my price range - but I need someone to work some magic. I want to allocate some of my money into real estate. So I need a long term mentor. Let's make some $$ together. Looking for a good team - agent, lawyer, lender, etc. Need someone that knows numbers and is patient to answer a TON of questions. I get easier to work with :)

PLAN:
Find a decently priced condo, loft or single family home in these neighborhoods. Live there with my GF for 2-3 yrs and most likely rent it out later.

Range: $250K
Rooms: 2 or 3 (ideal!)
Bath: 2
Update: Slight cosmetic updates - I'm for it.

Some info:
- Our apt lease in Wicker Park is up: Aug 1, 2013 (so I want a head start)
- Need to find a good lender (I have A credit)
- I want to rent it out 2-3 years later, not sure if I would put 20% down. Should I do 4%

Email: jovim.ventura@inoprints.com

Help the community by answering this question:

Answers

15
Jovim, I work on the best team in the city and we'd love to help you!

http://www.innovativepropertyconsultants.com/sarahz

I wouldn't wait until next year. Now is the time to borrow money! You say you have great credit, so take advantage of those rates and first time buyer programs now. If you are a first time buyer there is no reason to put 20% down, you can buy something for as little as 0-2% total down. I started my career in finance so am a numbers girl at heart and have worked in leasing the past two years. Give me a call anytime to discuss!

Sarah @ Jameson Sotheby's International Realty
sarahz@jamesonsir.com
312-339-4460
0 votes Thank Flag Link Thu Sep 6, 2012
Hey Jovim. As a dedicated buyer's agent, I just wanted to pass on some advice:

Go West! If you are looking for a property that only needs slight cosmetic updates, and 250k is your budget, start looking in the eastern sections of Humboldt, particularly between North and Armitage, from Western to Kedzie. There are also certain pockets of Logan that might work in your budget.

Additionally, think strongly about multi-units, anything from a 2 flat to a 4 flat. You'll qualify to borrow more money, you'll have a mortgage payment less than a single family, and you can actually choose your neighbors unlike a condo where you are playing Russian Ukrainian roulette with your sanity.

Good luck.
0 votes Thank Flag Link Thu Sep 6, 2012
Jovim -- I think you're making a great move to consider purchasing, and planning ahead is never a bad thing.

I'm not an expert on all of the areas you recommend but I whole heartedly would recommend you consider working with my associate Brady Miller. Brady has helped clients with similar requirements and his patience exceeds any agent I have ever met. We're lucky to have him in our firm and he truly puts his clients needs first.

Brady Miller
REALTOR® with Chicago Real Estate Artists LLC
bmiller@chicagorea.com
P 773.977.8553
F 773.681.7363

As for lenders, the best lender in the business I feel is Neena Vlamis, president of A&N Mortgage. I believe she is also the highest rated lender here on Trulia.

Neena Vlamis (president)
A & N Mortgage Services, Inc.
Tel: 773-305-LOAN (5626) ext. 104
Fax: 773-751-5041
neenav@anmtg.com

For attorneys I would suggest you work with whomever your agent has the most experience with. That relationship is critical to a successful contract and sale and I hesitate to suggest at this time.

Good luck with your decisions!

Michael
0 votes Thank Flag Link Wed Sep 5, 2012
Hey Jovim-

I live and office in River West. I am a licensed realtor (CDPE - Certified Distressed Property Expert), licensed general contractor, and my company manages over 150 units in the city.

Price point will be challenging, but you will see good opportunities in the next 18 months. To accomplish your goals I would concentrate on two flats. Much better return on your exit strategy of renting and a great way to build wealth. In many cases, condo associations are taking the rental option out of owners hands in order to protect the value of the other units in the building (over 50% owner occupied makes traditional financing for potential buyers diificult).

You will also be able to make your money work harder having some rental income.

Let me know if you want to talk more, good luck otherwise.

Erik Sachs, CDPE
RpV Realty and Development
Cell 773/368-5515
Email esachs@rpvinc.com
0 votes Thank Flag Link Wed Sep 5, 2012
As you can see you are popular. My web site gives some information on what I do, particularly the Rebate. It also has lender and inspection and attorney references.......everything you need.
0 votes Thank Flag Link Wed Sep 5, 2012
im ready to interview for the job!

thanks,

Steve Wright
stevew@risingrealty.com
3125661076
0 votes Thank Flag Link Wed Sep 5, 2012
You will be very popular on here.

I would interview two or three agents and go with the one you mesh best with. See who fits the bill that your looking for.

Only suggestion, is looking a year out may be a tad too early. The problem is, the type of property you are looking for in your price range doesnt come up often. When it does, it will sell quick. I would look into seeing you can give your condo 60days notice to break a lease if the right place came along.
0 votes Thank Flag Link Wed Sep 5, 2012
I would be happy to help you in any way that i can; as a buyer's agent specialist or an attorney. Please feel free to request additional references other than those on trulia or go to linkedin page
0 votes Thank Flag Link Wed Sep 5, 2012
Don't wait ... Rates are expected to increase in the next few years!

Sublease your place and get a good deal!


Call me if you are looking for the best negotiator available.!!
20+ years experience!

708 652-8888
Realtypro@msn.com
0 votes Thank Flag Link Wed Sep 5, 2012
Take a look at my reviews/recommendtions here on trulia. Plenty of additional references/buyers I have worked for available upon request. Give me a call!

Hasta pronto!

Laura Rivera - Broker Associate/Realtor

http://www.laurariverarealtor.com
Si, yo hablo español!
First Class Service Because it Matters to Me
Betancourt Realty
2041 W. Division Street
Chicago, IL 60622
Cell: 773-750-4311
0 votes Thank Flag Link Wed Sep 5, 2012
Plenty of time to get your affairs in order.

If your goal is to purchase by mid to end of July 2013, then your serious searching should begin by April/May 2013. Prior to that you need to have your financing in place. If you have any credit issues, use this period now to improve them. Also use this period to build up your savings for the down payment.

I'd be glad to assist you with your future purchase.
0 votes Thank Flag Link Wed Sep 5, 2012
I live and work in the area and have been doing business there for the last six years. I would be more than happy to answer any questions you have. If you decide from there you are comfortable moving forward and working with me we can. Danielle
0 votes Thank Flag Link Wed Sep 5, 2012
Hi Jovim,

Let's talk and get your plan into action... I look forward to speaking with you.

Michael Baber
Urban Domain Real Estate
773-491-7553 (text friendly)
0 votes Thank Flag Link Wed Sep 5, 2012
Jovim

Contact Bob Craig at Urban Domain (773-474-1410). He specializes in the areas you are looking and can get you set up on MLS. Feel free to call me to get pre-approved.

Greg Moore
773-358-7895
gmoore@wintrustmortgage.com
0 votes Thank Flag Link Wed Sep 5, 2012
1 year ahead..very impressive..I can meet you at my office at Clark and Armitage and help you.. i have owned 8 units in west town, I rehabbed over a million dollars of real estate and I was a loan officer..not to mention the 16 years of living here..
0 votes Thank Flag Link Wed Sep 5, 2012
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