All Forum Posts by: James Enright

Nice job!!

What kind of ad did you put under craigslist? What does the ad say?

Already signed with realtor....nope. But can still work with realtor to buy property and the commissioned will be owed to the realtor from the seller.

Nice story....Keep going forward!

Only after you buy the property and start eviction on the tenant for non-payment. Anything else would be problematic.

If you are looking for contracts.... just simply go to BP website... under Resources at the far right hand corner and click there and peruse there. You will find all kinds of contracts there.

Now get busy pronto!

Walk away from this FAST. Bank is playing with you and you will be a FOOL not to!

You can also set up a "land trust" instead of LLC. In Illinois LLC is very costly to set up.

You should be asking what kind of house is it? Is it a ranch, 1 1/2 story, 2 story or what?Are there any bedrooms on the first floor or all of them on 2nd floor? If all on 2nd floor, then no full bath on 1st floor, just 1/2 bath will do. Also need to look at the layout, if it is possible to do so w/o making it look silly. And yes, look at the cost of construction vs value of surrounding house in comparable square footage.

My suggestion in any partnership regardless whether it is a friend, just do 1 project with this individual and also be certain the contract is spelled out what each of you are supposed to do. Do this with a qualified attorney to write it up. If it works out with both parties, great you found a trustworthy party ( friend) to work with.