New Investor in North West Suburbs-seeking knowledge on fix/flip

New Investor in North West Suburbs-seeking knowledge on fix/flip

Roselle, IL · Member since 2016 · 131 posts · 31 votes

Hello to all,

I am new to this forum, but have been watching the youtube videos and following REIA for quite some time now, just never pulled the trigger...which brings me here. I am very eager to get into REIA investing. I chose to pursue a fix and flip because adding a lump sum of money for me right now would relieve my financial worries for a good 2-3 years. As little as a 15K profit would give me "financial freedom" for quite some time. I consider myself to be a humble person and would really appreciate anyone who is willing to give me their time and share their knowledge.

I am finally (temporarily) in a financial situation where I have enough for a pretty good down payment on a home up to 250K. I would like to do my first fix and flip and am looking for an agent/investor who can help me find my first property.

Also, if anyone knows of a good GC in the Northwest Suburbs, please let me know. I am compiling a list to see who I want to work with.

DETAILS:

I'm looking in the territory from: NORTH to Vernon Hills/ Mundelein, WEST to Crystal Lake, SOUTH to Bloomingdale/Naperville, EAST to DesPlain.

CRITERIA: Single family home, condo, duplex (exception), townhome

Min Purchase: 80k Max Purchase, 250K

Max Repair: 40K

Min Profit: 20K

Thanks to all!

-Steve B.

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  • Woodstock , IL · Member since 2013 · 22 posts · 8 votes
    9y

    Welcome to BP, Steve! I too am an investor and full time real estate managing broker in Woodstock. I have coached several new investors through the beginning stages and would be happy to speak with you about your goals! I have 2 projects in the works and a 3rd under contract. If interested, we could visit them together as examples of what to expect. Thoughts? 

  • Roselle, IL · Member since 2016 · 131 posts · 31 votes
    9y

    Hi Phillip, I just saw you posted this after I sent you a message.  I'd love to gain any knowledge you are willing to share.  Please let me know when you would be available.  My schedule is pretty packed right now searching homes w/ my agent, but if we happen to have availability on the same day, i'd love the opportunity.  I work m-f 8-5

    Thanks!

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