Hey everyone. I am a licensed general contractor here in Chicago and I'm starting to move into buying and flipping properties myself instead just being on the rehab side. I already have a solid crew and subs I trust. Im building on the financial side now and want to meet private lenders not instead of scrambling for one if I land a deal.

My acquisition side includes developed relationships with wholesalers, investor friendly realtors, d4d myself, and using an affiliate company that I also own to that lets people approach us to sell their properties off market.

Im mainly looking at failed flips, stale listings and light to medium rehabs around the Chicagoland area. Most of what I am targeting is max 400k with anywhere between 25k to 100k in rehab costs. The rehab costs I calculate myself and my target MAO is 65 to 75 percent ARV to leave plenty of breathing room for healthy profit margins although I would be open to going up to 75 to 80 percent ARV if the rehab is relatively light.

And being entirely honest here, I would be new as the actual principal buyer. I'm talking to lenders for the main acquisition and rehab financing already. What I would really like to find here are private lenders I can build relationships with for other parts of the capital stack like gap money, EMD, rehab float, etc.

Although I would like to work with just one individual to fund the acquisition and rehab, I know that is a little out of reach because of status being a newer principal buyer. Regardless, I'm open to a 15 percent prorated fee and 1-2 points if anyone would like to give me a chance on the whole purchase. Whether it be the full flip purchase or a novation.

Im also open to JV deals but ideally would like to find people I can work with repeatedly as volume picks up.

Thanks a lot

Michael Melegrito

GC/Owner
Chicago Rehab Logistics, LLC

Windy City Property Holdings, LLC

License # TGC146289