All Forum Posts by: Alphonso Dormun

Hello Kristen,

Did you ever move forward with a transaction using these guys?  I have a property in the Chicago south suburbs that they've reached out to me about selling.  Their offer price was way below the value but I negotiated to a fair price.  I'm just doing a little digging on them regarding their transactions being legit. 

I’m really loving this thread and the ideas that are being shared.  Just recently, I received a request from a tenant to lower the rent due to financial hardships caused by the recent outbreak.  Being that she’s a fantastic tenant who pays on time every month and is easy to business with, I plan on discounting the rent for the next 3 months to assist her through these uncertain times.  The discounted rents will be deducted from her security deposit.  I was a little on the fence on tapping into the security deposit but when I weighed the option of possibly losing a great tenant and turn over costs, the decision was a no-brainer.  

If this COVID-19 situation gets worse and the general public’s income takes an even greater hit, I plan on contacting the mortgage companies to see if there is anything they can do to help situation.  I do have reserves set aside, but before breaking the piggy bank, I plan on exploring every possible option.

@Vincent Incopero Yes, please send me a list of names.  Thanks Vincent!!

Hi Dan!  The current value is $60,000. I purchased it September 25th, 2019.

I purchased a 2 br house in Park Forest, IL just south of Chicago for cash under $50K and would like to know if anyone knows of a lender who is willing to do a cash out refi or HELOC without a seasoning requirement?

Hello BP Family!  I’m in need of a quality contractor in or around the Evergreen Park area for an upcoming rehab.  All suggestions are welcomed :-)

Great information!!  I know I’m a bit late on the discussion but does anyone know of a good contractor in the Evergreen Park area?  I have a 3br / 1.5ba under contract and would be great to have local quality contractor on the job.

@Trevor Densmore The rehab went well.  I ended up a little over budget and overlooked a few line items that left out in the scope of work but I'll make sure to include them moving forward.  I just received a signed lease and a tenant should be moved in next month.  This property is located in Matteson.  What areas are you interested in?

Great post Alex!!  Flexibility is a great attribute of success and it definitely paid off in this deal.  Keep up the momentum!

Thanks for the info JP. I’ll definitely give you a call!