All Forum Posts by: Alex Bok

Would love to hear thoughts on this. I have only worked in my local area Chicago and have not bought investment properties outside of my state but would like to.

I have provided turn key rentals for out of state investors but it is because they like many others like the passive investing style. I've been trying to reach out to other folks in smaller more upcoming areas

Best bet would be to start reaching out to local investors or family friends offering them equity of the deal once sold. Ive found in my exp that some HML don't lend to projects if they do not do purchase + rehab.

It sounds like you have a great property i am sure others will see the value in it to once you present it to them as such!

@David Dachtera that is amazing to hear. Would love to connect with you to hear what you have going on in the pipeline!

@Michael Pelant I would start with 'house hacking' as they like to call it. FHA with low percent down to live in for a year and then make your next move. Ideally a 2 unit or something of that nature would be great just to get the secondary income.

There is also an FHA 203k loan which you could use to do renovations but you may need to look for slightly less desirable properties in the hot areas ones that have been sitting for quite sometime. With an FHA the loan cost will be higher along with mortgage insurance premium which can eat into your monthly cash flow is but I believe putting as little money down as possible to get in on a deal would be the most beneficial to you!. Best of luck!

PS. I wish I had gotten start investing at 22! You are headed in the right direction my friend

Prefer to pull just an easy permit most of the times no full permit. city can cause a lot of headaches!

@Adam Soyak my personal opinion always list whenever it is ready! if you have a solid product people will purchase!

@David Kors would love to connect to see if you are interested in JV in any of these properties that you find or as a buyer of your wholesale properties!

I would be interested as well

I would check the judicial foreclosres website they usually have a list up

I find that landlord laws in Illinois are pretty good and friendly to investors. Of course I have not really looked into investor laws outside of the state. Although taxes seem to be going up but that may be the case everywhere!