Sunday, March 3, 2013

Purchasing a distressed home in Chicago as a first ... - Zillow Real ...

Could be a good idea..could be a disaster
If you invest/spend less money then you will need to invest/spend more time...That's just a fact, a dose of reality

You'll be living the Time is money cliche, proving it is true in your case if spent wisely.
Time learning your Market, looking, paying attention to development plans, meetings, knowing the neighborhoods, schools, budget outlooks, properties selling, not selling, prices dropping, rising, learning as much as possible about the buying process/options...
Then there is fixing up..What can ya do, how much time ya got to do it...will ya do it, costs, inspections (What problems? Roof, sewer, plumbing, foundation, paint, dry-rot, mold?), permits and more

It's possible, it can be done, has been done..just need to be honest with yourself about..Time/Commitment

I wish you the best of luck and success if you move forward

Source: http://www.zillow.com/advice-thread/Purchasing-a-distressed-home-in-Chicago-as-a-first-time-home-a-good-idea/481054/

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