BRRRR Partner Needed – Kankakee, IL – Free & Clear Property

BRRRR Partner Needed – Kankakee, IL – Free & Clear Property

Chicago, IL · Member since 2017 · 2 posts · 0 votes

I’m reaching out for guidance and/or partnership on a single-family home I own outright in Kankakee, Illinois. Here’s the full context:

The Situation

  • I own a free and clear SFR in Kankakee—no mortgage, no liens.
  • It’s currently occupied by a family member who isn’t paying rent. This makes things emotionally complicated, but I need to move forward.
  • The house needs to rehab and possibly some light upgrades.
  • I want to use the BRRRR method to turn this into a cash-flowing asset—or use it as a stepping stone to acquire more doors.

Where I Need Help

  • Looking for a local partner in IL  ( I've relocated to Texas) 
  • What’s the best way to refinance and pull capital out once it’s rehabbed?

My Goals

  • Building a repeatable BRRRR AI system.
  • Use AI and automation tools (my core background) to streamline rental and acquisition workflows.
  • Get this first deal stabilized, rented, and refinanced so I can start scaling.

Open To

  • Profit split, equity share, or creative terms
  • Advice from those who’ve dealt with family evictions
  • Contractor or property manager referrals in Kankakee


If you’ve navigated something similar or want to build with a tech-savvy operator, I’d love to connect. I’m based in Austin, TX but familiar with the Midwest market and eager to build a long-term portfolio.

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  • Lender · Springfield, MO · Member since 2025 · 14 posts · 8 votes
    1y

    Hey @Tawone Autman! As far a refinancing, you can do a cash-out refinance which (in most cases) will allow you to access up to 75% of the value of the property. With it being free and clear you should be in good shape there. 

    Once you're ready to refinance, you really just need to find the right lender for your project and they can walk you through the process. We do a lot of refi's so I'd love to answer any additional questions you may have!

  • Amit PatelBusiness Member
    Property Manager · Bartlett, IL · Member since 2025 · 146 posts · 59 votes
    11mo

    Hey Tawone,

    Congrats on that free-and-clear Kankakee SFR—huge opportunity to kickstart your BRRRR plan! I've been flipping and renting in IL suburbs, specially Chicago suburbs for 30 years, so I know the ropes, especially with tricky family situations and remote management from places like your new Austin digs. Your AI/automation skills sound like a killer edge for scaling!

    Quick Tips:

    • Rehab: Start with light fixes (paint, flooring) to boost value—check Zillow for local ARV. Get quotes from Kankakee contractors like Honest Work LLC (779-301-2299).
    • Rent: Tap Section 8 via Kankakee CHA for steady cash. Screen for reliable tenants to lock in flow fast.
    • Refi: After renting 3-6 months, pull 75% LTV with a DSCR loan from local banks—could net $150k on a $200k ARV.
    • Family: Have a gentle talk, offer 30-60 days to move (IL Legal Aid has templates).

    For partners, I know folks in IL who vibe with tech-driven investors—happy to connect for a profit-split chat. What’s your rehab timeline? DM me to talk. 

    Cheers

    Casanomy Property Management563 Reviews
  • Andrew PostellPro Member
    Lender · Fort Worth, TX · Member since 2016 · 8k+ posts · 6k+ votes
    11mo

    @Tawone Autman thanks for the post and welcome to Texas!  Now, as a 15 year, out-of-state investor my recommendation is to ALWAYS use people who are referred to you. Keep in mind that you may never see your asset. That's an ENOURMOUS amount of trust/money to put into a stranger's hands.  One wrong move, one wrong contractor, one wrong vendor…will erase your profits. Your network is the most important piece for any potential returns when you invest out of state.

    So, how do you find a good reference?  This is a super important question and it doesn't just apply to partners. How do you know that a contractor is any good? An electrician? A title company? Anything? Even if they do have 20 years experience...how do you know really? And while nothing is foolproof the most consistent method of finding good vendors is relying on OTHER real estate investors that have worked with those vendors. This is why we network with other real estate investors - kind of like what you are doing here!

    So, let's try some local real estate meetup groups on facebook.  There are several Illinois and some have THOUSANDS of members.  The priority is consistent recommendations from active investors. Interview, get references, and trust no one!  Just kidding about that last one...but you know what I mean.  This is your money, so be diligent with it.  

    Thanks!

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