All Forum Posts by: Derek Walvoord

 What do you use the virtual assistants for?  Phone screening, etc.?  It seems like that might be a really good way to stretch time and get more done.  I would love to hear a little more.

Another 2 cents.  Lincoln Square is really great, if you can afford a 2-3 unit there, you will probably do really well.

Looks nice!  I have been there.  Not fun, but you did learn a lot!

I have had some good luck finding hires with Roosevelt's MBA or MSRE (Masters of Science in Real Estate) programs, or maybe with DePaul.  DePaul has an undergrad and a graduate program in Real Estate.  They both would probably be happy to send out an email to their student list serves.  I also had one good person get in touch with me from an add I put in the Marketplace.  I was looking for a property inspector, and I bet you would have even better luck with property management.

 Totally Agree!!!  I wish I could do it over again and buy a 3-flat!

Hi, it really depends. There are some neighborhoods that are really cheap.  You could ask the wholesalers for a reference, or you could use Redfin/Trulia/Zillow to see how their prices stack up to the market.  There are some really good deals though.

Mostly, you want to make sure that the wholesaler can actually close.

I am still seeing deals out there on the MLS. The really good ones on the south side are going really fast right now. I am mostly looking in South Shore, but I think the markets are pretty similar all over right now. Some of our clients at work are actually starting to do the 2 unit to single family conversion in order to make the numbers work on the northside.

@Brian Jacobson

I think that even if it was a three flat, you can still take up to 250K for yourself, or 500K if you are married if it was your primary residence for 2 of the last 5 years.  So, you could theoretically take a pretty big chunk of cash out without penalty.  I have done that with some single family houses over the years.

I think if you go into your court date/meeting, just tell them your story.  Probably you will be OK.  You might have to pay a fee for the right permit, but it should not be too bad.  I would try the full mea culpa, and see if they will let it stand as a two unit

I went to their three day event.  It was interesting, and I took a lot of nuggets away.  Just don't pay them. . . .

We have some of their clients borrow from my day job. 

But, just remember, you can buy a house for 30K. . . 

Just my 2 cents.