Frequently Asked Questions
No. While past experience is always a plus, everyone has to start somewhere. We are happy to guide you through the process of closing deals, especially as a first-time investor.
No. Citypoint has a range of different industry professionals including attorneys, lenders, property managers, contractors and insurers. However Citypoint clients are free to use whoever they see as the best fit for their needs.
Citypoint does not offer “in-house” property management. However, Citypoint has great relationships with 3rd party property management service companies.
Typically no. While in rare cases there is an opportunity to get creative, almost all deals require at a very minimum 20% down payment. For the very smallest deals, this is roughly $50,000. However the number of deals available will be very small. We recommend having at a minimum, $100,000 in available funds before exploring investment opportunities.
Yes, many Citypoint clients are investing from outside of the local area. With our vast array of investor resources, investing in multifamily properties in other states has become an ideal investment vehicle for investors in sub-optimal, high priced markets.
In most cases, closing can be done remotely via power of attorney. Typically, the process does not require in-person presence and can be performed remotely.
Although Citypoint makes an effort to vet properties by reviewing the Seller supplied documents and viewing the property we do not and cannot guarantee any property information. We strongly recommend all clients perform their own due diligence on properties before investing.
For financed properties, closing typically takes between 45-60 days to close.
Citypoint currently has offices servicing Illinois, Southern Wisconsin, Northwestern Indiana, Arizona and Florida (coming soon). However, we have partnerships with agents all over the United States and can put you in touch with someone in your desired area.
Investing in real estate can be risky. You can make money and you can lose money as well. Forward-looking statements or estimations provided by Citypoint do not represent any final determination on investment performance. While the information provided to investors has been researched and is thought to be reasonable and accurate, any real estate investment is speculative in nature. Any areas concerning taxes or specific legal or technical questions should be referred to lawyers, accountants, consultants, brokers, or other professionals licensed, qualified or authorized to render such advice. Real estate investing may not be suitable for all investors. Read our Roles and Responsibilities guide here.
Citypoint does not hire or have a financial interest in any service providers. Investors can hire any provider of their choosing.
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