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Chicago Real Estate Investors Association - Downtown Message Board › Chicago REIA's 1st Ever LIVE Auction

Chicago REIA's 1st Ever LIVE Auction

Andrew H.
Oak Brook, IL

Chicago REIA'S First Ever LIVE Auction

Meeting Will Start 6:30 Sharp
How to Buy Auction Properties
LIVE AUCTION - Properties

Agenda: Buying Deals At Auction

REIA Member - Matthew Geevarghese
Matthew will share good deals & goofs at auction. This will be great coming from some one who started playing with auction just this year.

Breakdown Of Sheriffs Sale & Online Auction Sites - Andrew Holmes

Buying at auction can be one of the MOST COVETED strategies of advanced investors. The truth is that anyone can buy at auction but most investors don't know how it's really done.

  • The due diligence on auction properties
  • Step by step process on how to bid on auction properties
  • When do you need cash for deals
  • When can you bid and then get a loan or partner on deals
  • You will lean the process of bidding that most investors are never exposed to


So we have a few vendors that are coming and you will be able to get great goodies from these vendors at really great prices & the best FREE STUFF. Lots of great FREE STUFF.

#1 Property At Auction: Wholesale Deal
REIA MEMBER - 110 48th Ave, Bellwood, IL 60104

3Br/1.5 Bths More Pics On The MLS
This is an MLS deal - $ 55K Starting Bid
Needs $ 20,000 work
After Repair Value $ 135,000 - $140,000
Rental Comps $ 1350 - 1400

#2 Property At Auction: Wholesale Deal
60 Della Street, Crystal Lake, IL 60104

Sheriffs Sale Property - $ 58K Starting Bid
Needs $ 20,000 work
After Repair Value $ 120,000 - $125,000
Rental Comps $ 1300 - 1350

#3 Romeoville At Auction - Wholesale Deal (MLS)
705 Haller Ave, Romeoville, IL 60446

4 Bedroom 1 Bath
Price: $ 72,000
Rehab: $ 25,000
After Rehab Value: $ 140,000 -150,000
Rental: $ 1500/Month
Cash Flow: 10% Down  Net Cash Flow: $ 540
Andrew's Ratio: 63%
Debt Coverage Ratio: 1.89
Cash On Cash Return: 56.14%

(Check-In Starts at 6:00pm)
Waterford Banquets and Conference Center
(933 S. Riverside Drive, Elmhurst, IL 60126)

There will be something for everyone, and were even raffling off TWO REIA MEMBERSHIP (if you are currently a REIA Member 2nd year would be FREE)

We are extremely excited to put on this event, and cannot wait to see you there.
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