Looking for Capital Partner to Fund Chicago-Area Flip (I Manage Renovation)
Member since 2026 · 4 posts · 5 votes
Looking for Capital Partner to Fund Chicago-Area Flip (I Manage Renovation)
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Member since 2026 · 26 posts · 2 votes
6moQuote from @Jonathan Klemm:
This is great stuff @Luis Salazar! Love the detail.
Finding properties wth only $35k-$55k in rehab will be a challenge in my opinion, because everyone is look for the simple cosmetic flip. At those higher price points in the SW Chicago Burbs you'll likely have to do a bit larger renovations.
I'm always open to deals, however, I am less and less inclined to pull the trigger as I've gotten a bit older. Either way, happy to hop on a call to talk game plan and strategy.
I dont know if this is interesting to you but I have a few projects in SFL that would give the opportunity for reasonable returns -- double digits-- as a JV partner. The strategy is simple: I buy discounted properties, rehab/build with experienced team (GC, PM, etc.), and sell or do co-living. Would you be against something like that? If so, i'd love to chat.
8 Replies
- Contractor · Chicago, IL · Member since 2016 · 4k+ posts · 2k+ votes8mo
Hey There @Luis Salazar - Love that you are putting out into the ether what you looking to do.
Do you have some specifics of what type of property you are looking for? Where in Chicago? How much money would you need and what the return will be?
I've found the more detail and focus I have on what I am looking the easier it is to find it!
Also, I highly encourage you to come check out some local in-person investor meetups. Here is list of the ones on BP: https://www.biggerpockets.com/forums/521-real-estate-events-...
Quality Builders4.968 Reviews- Member since 2026 · 4 posts · 5 votes8mo
Quote from @Jonathan Klemm:
Hey There @Luis Salazar - Love that you are putting out into the ether what you looking to do.
Do you have some specifics of what type of property you are looking for? Where in Chicago? How much money would you need and what the return will be?
I've found the more detail and focus I have on what I am looking the easier it is to find it!
Also, I highly encourage you to come check out some local in-person investor meetups. Here is list of the ones on BP: https://www.biggerpockets.com/forums/521-real-estate-events-...
Hey, I really appreciate the response and the advice completely agree that clarity helps attract the right deals and partners.
I’m primarily looking for value-add single-family homes or small multifamily properties in strong suburban markets like Clarendon Hills, Downers Grove, Hinsdale, Naperville, and similar areas with solid resale demand.
I’m targeting properties that need cosmetic to moderate renovation where we can force appreciation through updates like kitchens, bathrooms, flooring, and interior/exterior improvements.
Typical deal range I’m analyzing is roughly $250k–$500k purchase price, with renovation budgets around $35k–$55k depending on the property.
My goal is to structure deals conservatively where the investor funds the project and we split profits after sale. I focus on managing the renovation, contractors, and timeline to protect the investment and maximize resale value.
If you're open to reviewing deals like that, I’d love to stay connected and share opportunities as I find them.
- Contractor · Chicago, IL · Member since 2016 · 4k+ posts · 2k+ votes8mo
This is great stuff @Luis Salazar! Love the detail.
Finding properties wth only $35k-$55k in rehab will be a challenge in my opinion, because everyone is look for the simple cosmetic flip. At those higher price points in the SW Chicago Burbs you'll likely have to do a bit larger renovations.
I'm always open to deals, however, I am less and less inclined to pull the trigger as I've gotten a bit older. Either way, happy to hop on a call to talk game plan and strategy.
Quality Builders4.968 Reviews- Member since 2026 · 26 posts · 2 votes6mo
Quote from @Jonathan Klemm:
This is great stuff @Luis Salazar! Love the detail.
Finding properties wth only $35k-$55k in rehab will be a challenge in my opinion, because everyone is look for the simple cosmetic flip. At those higher price points in the SW Chicago Burbs you'll likely have to do a bit larger renovations.
I'm always open to deals, however, I am less and less inclined to pull the trigger as I've gotten a bit older. Either way, happy to hop on a call to talk game plan and strategy.
I dont know if this is interesting to you but I have a few projects in SFL that would give the opportunity for reasonable returns -- double digits-- as a JV partner. The strategy is simple: I buy discounted properties, rehab/build with experienced team (GC, PM, etc.), and sell or do co-living. Would you be against something like that? If so, i'd love to chat.
- Lender · Chicago IL · Member since 2020 · 358 posts · 230 votes8mo
Hey @Luis Salazar- Interesting approach, and I appreciate the clarity.
One thing I’d encourage you to think through is alignment and risk perception from the capital partner’s side. Asking someone to fund 100% of purchase, renovation, and holding costs with no personal financial obligation or capital contribution from the operator is a big ask, especially in a value-add project where execution risk is real. Even very strong operators usually bring some form of skin in the game, contingency reserves, or a clearly documented track record with detailed budgets, timelines, and exit sensitivity.
If you haven't already, it may help to present a very tight scope, comps, conservative ARV, and a contingency plan if the renovation or timeline goes sideways. That alone will make you significantly more compelling to serious capital partners who are underwriting you as much as the deal.
As well - if you don't have a deal lined up yet (which it sounds like you don't) - at a minimum, share your past / current relevant experience in forum posts to help you gain some traction and prelimiary credibility.
Best of luck with this!
-Jennie
- Member since 2026 · 26 posts · 2 votes6mo
Quote from @Jennie Berger:
Hey @Luis Salazar- Interesting approach, and I appreciate the clarity.
One thing I’d encourage you to think through is alignment and risk perception from the capital partner’s side. Asking someone to fund 100% of purchase, renovation, and holding costs with no personal financial obligation or capital contribution from the operator is a big ask, especially in a value-add project where execution risk is real. Even very strong operators usually bring some form of skin in the game, contingency reserves, or a clearly documented track record with detailed budgets, timelines, and exit sensitivity.
If you haven't already, it may help to present a very tight scope, comps, conservative ARV, and a contingency plan if the renovation or timeline goes sideways. That alone will make you significantly more compelling to serious capital partners who are underwriting you as much as the deal.
As well - if you don't have a deal lined up yet (which it sounds like you don't) - at a minimum, share your past / current relevant experience in forum posts to help you gain some traction and prelimiary credibility.
Best of luck with this!
-Jennie
Hey Jennie. Dont mean to intrude but.. you want to get something going? i have some really nice projects in SFL. I'm talking luxury developments, quick rehabs, etc. all giving double digit returns. how can we connect and get something going? I even have architects, GC, Project Manager, Private Lender etc. all lined up. Just need the equity partner to get at least 5 projects going in the next few months.
- 8moMayo GilfurtPro MemberReal Estate Consultant · Connecticut Ct · Member since 2026 · 145 posts · 33 votes
Thanks for sharing — I work with equity investors actively seeking value-add residential opportunities. Happy to connect offline if you’re open to a quick conversation.
- Member since 2026 · 26 posts · 2 votes6mo
Quote from @Mayo Gilfurt:
Thanks for sharing — I work with equity investors actively seeking value-add residential opportunities. Happy to connect offline if you’re open to a quick conversation.
Yeah. Let's get something going. I mean, i have some really nice projects in SFL. I'm talking luxury developments, quick rehabs, etc. all giving double digit returns. how can we connect and get something going? I even have architects, GC, Project Manager, Private Lender, etc. all lined up. Just need the equity partner to get at least 5 projects going in the next few months.
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