How to Successfully Start Wholesaling in Chicago!!

TL;DR

Chicago wholesaling is thriving with abundant opportunities in distressed areas due to high violence rates.

Transcript

so chicago how were you able to wholesale there i i i know the answer but a lot of people get told automatically that wholesaling is illegal in chicago right so how are you able to do it in there yeah great question so i am a licensed agent out in illinois so you wouldn't need to either be a licensed agent in illinois or be linked up with an agent ... Read More

Key Insights

• 💦 Chicago wholesaling requires proper licensing or working with a licensed agent for transactions.
• ☠️ High violence rates in distressed areas contribute to a favorable market for wholesalers in Chicago.
• 🤝 Target properties valued at $300,000 or less in Cook County for better deals.
• 🥺 Utilize services like Prop Stream and List Shack Pro for data and leads.
• 👂 Focus on unique lists like tax delinquent and zombie properties for profitable wholesale opportunities.
• ☢️ Active follow-up and communication with property owners are crucial for wholesale success.
• 😑 Consider pulling lists like pre-probate properties and tired landlords for potential leads.

Questions & Answers

Q: How can one wholesale in Chicago?

To wholesale in Chicago, one must be a licensed agent in Illinois or work with one, as title companies require proper licensing for transactions.

Q: Is the Chicago wholesaling market still good?

Yes, the Chicago market is thriving, especially in distressed areas with high violence rates, resulting in high acceptance rates for wholesale deals.

Q: What type of properties do you target in Chicago?

Properties valued at $300,000 or less in Cook County are targeted, with a focus on vacant absentee owners lists with high equity for better deals.

Q: What are the top lists to pull for Chicago wholesaling?

Besides vacant absentee owners lists, tax delinquent lists have historically performed well, and utilizing services like Prop Stream and List Shack Pro can provide valuable leads.

Summary & Key Takeaways

• Chicago wholesaling requires being a licensed agent or working with one due to strict regulations.

• Market in Chicago is favorable with high acceptance rates, especially in distressed areas.

• Target properties valued at $300,000 or less in Cook County, focusing on vacant absentee owners with high equity.