In Illinois and parts of Indiana, there are currently 425 ACTIVE listed homes on the Multiple Listing Service for $30,000.00 and under!  (There are 1196 in the $30K to $70K range) These all have 3+ bedrooms and are ideal for first-time or seasoned investors seeking to develop their single-family-home rental portfolio, because they are so affordable!

Of the 425 listings, 199 of them have 1 & 1/2 + baths.  (Of the available 1196 homes in the 30 to 70K price range, 611 of these 3 bedroom homes have 1 & 1/2 baths.) Certainly some of them need entire rehabs, however, there are many that just need light-weight cosmetic work!  The locations of these houses are in varying neighborhoods from the North Side of Chicago to the South Suburban communities as well as Northwest Indiana.  These would make excellent rental homes, for the demand NOW is huge!  It's an investors flea market!!

Financing for these types of homes (including rehab loans) are available from different lending institutions, which we highly recommend doing research about prior to agreeing to a specific loan.  If you have cash, which is more favorable, your negotiation power is higher, for many of these houses were foreclosed and are owned by banks which are prepared to settle to get them transferred to new owners.

A licensed Property Management company and a reputable building and construction company can become your best partners with this investment venture.  A Property Management company that specializes in managing rental homes can oversee every aspect of your property, like screening, rent collections, maintenance, annual inspections, and all other tenant matters, freeing up your time to tend to new prospective enterprises!  A construction company can get your house in habitable condition. 

For help with your transaction from beginning to end, it is recommended to choose a company that can walk you through every aspect from selecting a profitable rental property, successfully bargaining the purchase of it, overseeing the managing of it, and assisting with it's re-sale if your interest level changes in the future! 

It's an INVESTORS FLEA MARKET in Illinois & Indiana - Get Ready to Rack Up! 

"Where the RIGHT Price is the RICE Price!"

Rice Property Management & Realty, located in South Holland, Illinois, has agents that work with first time and experienced investors desirous of obtaining single family homes as rental property.

(handshake graphic courtesy of Bing)