All Forum Posts by: Adam Smit

I am an investor in the south side and have spoke with some other MACK investors who are using ABC Turnkey Properties. They are located in the south suburbs (Hazel crest). I have two properties that are managed through them and have had good results. I highly recommend them. Contact the owner Alberto Fernandez (847)(910)(4143)or email him at alberto @chicagoturnkeyproperties.com. I wish you all the best!

As i was driving the streets the other day, I discovered an 8 unit multi-family for sale by owner. After calling the owner, I discovered the property is owned by an older couple who is looking to get out of the REI world (ready for retirement). They are asking $389,000. The property is in excellent condition, and it is in no need of any immediate repairs. I have a meeting set up later this week to begin negotiations on the property. I do not have the capital at this time to put 20% down on the property. How should I approach the seller with the idea of seller financing with 0% down? Any idea would be very helpful.

Regards,

Adam G. Smit 

I am looking for a buy and hold deal in our area. Preferably Braidwood, Wilmington, Coal City area. I have had luck with my first property (Purchased from the MLS). But, since, I have not been able to find any Multi-Families with positive cash flow. Any ideas? What do you guys think.

-Adam

Bob, I am willing to meet up next week.  Is this okay with you David?

David,

That would be great!  Sounds like we already have (4) people interested.  I also have a friend who works in shorewood (heartland bank) who would be interested in attending. when is a god time for you all?  I am free most week days after 4:30 PM and most weekends.  

I was thinking some sort of meet up to talk about local deals, the market, contacts, contractors, accountants, etc.

Looking for like minded real-estate investors from the Braidwood/Wilmington/Coal City area. I would like to setup some networking dinners to discuss our local market!   

Can you do a cash out Refi on an FHA? I also had an $8,000 first time home buyers grant with the purchase of my property.

I have recently bought a duplex for 70k. (3 bedroom 2 bath & 1 bedroom 1 bath).  I have done some updates and the property has now appraised for 120k.  Is it possible to refinance this property and use the difference as a down payment on another property?

Congrats! I read rich dad poor dad a few years back in college. I'm 23 now and plan on doing the same when I am 30!