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FAQs


IS INVESTING IN CHICAGO REAL ESTATE RIGHT FOR ME?

Right now more than ever, there are people investing in real estate opportunities in Chicago. From foreclosures, to bank REOs (real estate owned) to auctions, there is literally a sea of properties that is flooding the market. These record numbers of foreclosures and REOs mean investing in real estate opportunities are literally everywhere. However this won’t last forever as the Chicago market is improving and prices are gradually increasing as the market stabilizes.

The opportunity to create personal wealth through the ownership of property in Chicago has never been better for real estate investors. Investors can get a lot more for their money in Chicago. For the price of a one-bedroom property in other countries, investors can buy a foreclosed three-bedroom property in Illinois.

Chicago Property Company only works with licensed agents and property managers in Chicago, Illinois. Also, there is no Stamp Duty or Land Tax, which makes buying and selling houses in Chicago a more cost-effective option.

WHAT IS FORECLOSURE/REO AND HOW CAN I BENEFIT?

“Foreclosure” is simply the legal term for the process a lender takes when a mortgage loan goes into default. Foreclosure can be a lengthy process, sometimes lasting months from the time the borrower is notified that they are in default.

If the property is not purchased prior to being foreclosed, the next step would be for the property to go to foreclosure auction and sold to the highest bidder. If no bids are received and this does not result in a sale, then the property reverts to the lender, which is then called “real estate owned” or REO.

Contrary to what you may think, banks and other lenders DO NOT want to end up owning these properties because of the substantial losses they will incur. This is where Chicago Property Company comes in. We take these REO properties and then offer them to you, our clients, at prices below current market values and then  hold them to generate an exceptional monthly income stream for you.

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IS PURCHASING PROPERTY IN CHICAGO A SAFE INVESTMENT?

YES, most definitely.

Funds can be paid directly to a Title Company or Lawyers trust/Escrow Account so that you can be sure that your money is protected at all times.

Real estate is tightly regulated in America. Only properties with clean and clear titles will be recommended to our clients.

The Title company ensures all titles are clean and debt free prior to settlement. Title Insurance gives the added security in the event of something coming to light at a later date. Chicago Property Company only works with licensed American real estate professionals, ensuring the process and outcome is safe for all investors.

BUY TO RENT?

Our new and existing clients are taking advantage of the above average yields available, making extra money by building a property portfolio that you could retire on, supplement a pension and help you gain financial independence.

Talk to us and together let’s make the decision that is correct for you.

HOW CAN WE PROMISE SUCH HIGH RENTAL YIELDS?

Simply put, because the properties are being purchased at prices substantially below market vale (BMV).

For example, if the real current market value of a property is $100,000.

Actual current rent is $16,800. Yield is 16.8% gross.

However, if we can purchase this same property for $60,000, actual current rent of $16,800 remains the same and Yield is now 28% gross.

WHAT IS SECTION 8?

Chicago Housing Authority – Section 8. The demand for good quality, yet affordable housing is high in Chicago. Chicago has the second largest public housing program in the U.S. with the administration of over 36,000 Housing Choice Vouchers that allow low-income families to rent in the private market. HUD’s Section 8 housing voucher program encourages the disadvantaged to seek safe, decent, affordable housing in the general community where they are from.

The advantage to landlords with Section 8 tenants is that the rent subsidies are paid directly to the landlord, not to the tenant, so there is virtually no risk of non-payment of rent. There are certain unique HUD standards that properties must meet to qualify under Section 8. Some of Chicago Property Company’s properties have been leased to Section 8 tenants, and we can specifically seek such tenants upon request. Chicago Property Company always ensures homes sold with or for HUD tenants have passed or will pass all HUD requirements.

As part of the Section 8 program, THERE IS A COMPULSORY ANNUAL INSPECTION BY THE CHICAGO HOUSING AUTHORITY TO ENSURE BUILDINGS ARE MAINTAINED TO A HIGH STANDARD. This gives extra peace of mind to investors re the ongoing maintenance of their properties.

WHY USE CHICAGO PROPERTY COMPANY?

It’s very simple. Chicago Property Company is in a position to offer its clients the opportunity to acquire real estate in Chicago at circa 30% – 40% discount from current market values. We source these properties from our banking and wholesaler contacts which we continue to nurture and develop. This then allows for chance to flip and for high rental yields. This is the niche market in which we operate.

Great opportunities will continue to be available and Chicago Property Company will be in pole position to take advantage of these.

Due to the non-recourse nature of American lending practice there will always be foreclosures to invest in.

HOW DOES THE PURCHASE PROCESS WORK?

Chicago Property Company has a proven system in place to provide investors with the appropriate structures to safely purchase real estate. Before we source a property for an investor, if you require it we can help register a company structure known as a Limited Liability Company (LLC) and provide you with an Employer Identification Number (EIN) that will allow you to open an American business bank account, purchase property and pay US taxes.

You can select this method to purchase properties or you can purchase directly in your own name.

We work with a team of professional service providers who will support you throughout your investment journey from start to finish.

DO I NEED TO HAVE A LLC?

There is no law stating that foreigners have to own property in a LLC.

Some investors like to have an LLC in order hold their business assets (properties) separate from their individual assets. However many investors have also stated that it does delay the process and they continue to purchase in their own name.

HOW DO I SELL MY PROPERTY IN THE USA?

Our team of licensed US real estate agents is on hand to make the sales process seamless.

We will market your property to local end users, individual investors and institutional investors.

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