I have time, How Can I Help???
Hey guys, I'm "momming" for the next few days so I have stepped away from my work and will have the freedom to give a few people who are ready to make moves some personal attention in moving forward with a deal. My goal this weekend is to help at least ONE...no THREE people get an accepted offer on a deal that will work for them.
Please help me achieve my short term goal to help YOU!
I invite any of my other BP'ers who have some time to jump in and also offer help. Can we get three newbies an accepted deal before Monday morning????? Challenge accepted!!!!
@Meghan McCallum Very helpful. Thanks again. I executed on your advice and I have a meeting scheduled with a local bank that appears (?) to be a great fit. It's called Professional Bank (www.professionalbankfl.com) and what I know thus far is motivating. It's consistently fascinated me as to how difficult it can be for people like me, with a great track record, credit, and net worth (albeit illiquid and tied up in equity), to secure funding.
All I need is one financial partner that "gets me" and the sky is the limit. So far, I've funded everything myself or with traditional banks-- that has run its course and it's too cumbersome and a waste of time in paperwork when I could be doing more deals..
Again, thank you so much for your insight and willingness to help. I do the same in my field of leadership development and it's a treat to be the one of the other side of the mentorship! (I have a place in Chicago, BTW, right off mag mile-- I see you're in IL). There is a bank in Chicago (Gold Coast Bank- John Drivas) that is awesome and flexible if that intel helps anyone.
j.
@Jill Haselman am I too late for the pro bono advice? My question is fairly simple: how do I find great deals anywhere in the U.S.? Seems like Zillow and the other online listings are out of date, or do not show really great deals. I am looking for primarily cash flow units. I own two in Atlanta netting $1100/month. I have $40k cash to play with. I hear Cleveland, Chicago, and Detroit are were the really good deals are. Is this true? Should I start calling realtors in certain cities? I've read 10 articles that list the top 10 cities to invest and each article lists different cities. Not reliable at all. Any advice?
@Remus Phillips my friend, Chicago MAY have some suburban deals for you. But, as you read Chicago is hot...thats because the dumb money had trickled in. :( You missed us in 2014 when no one was looking. Everyone was trying to "buy hot" in the coastal states. Now, its foreign investors and crazy people buying **** for a 4 CAP or in the ghetto. Are there deals...sure ! But you will never see them. Not from a distance. Remus, I know Bowie...I actually lived in MD for a bit...long enough to pick up a steal in College Park...
Why don't you look up north of Bmore? Or in Va?
You can cash flow in the midwest...but that normally means you are doing an extensive rehab on an old building. Doing that from a distance is hard. If you can tell me what (more specifically) you are looking for...I may be able to direct you to smaller markets where a couple 4 plexes would net you some good $.
@Jill Haselman well, when are meeting for drinks in Chi? Is your place for you to use or an investment. I have three units there still and picked up A SFH in Evanston just north of the city.
Reach out to me whenever you think I can help. In fact, send me an email. We should keep in touch. Mine is on my profile.
@Meghan McCallum College Park is BLOWING up like the 4th of July! Man, I wish I got in earlier.
So no Chicago. Cleveland? I'm simply looking for anything under $150k that I can rent for $1500+. I'm going to start looking in some areas in MD that someone just told me about. I'm a little cautious with Bmore city just because of their strict laws on lead paint. Squatters sue all owners claiming lead poisoning when the owner didn't even know the squatter was there. Owners have to get the lead removed as soon as they take ownership or risk being sued.